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Mitcham Industries, Inc. (Form: 8-K)  

 

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):   June 26, 2006

Mitcham Industries, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Texas 000-25142 76-0210849
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
8141 SH 75 South, P.O. Box 1175, Huntsville, Texas   77342
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   936-291-2277

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:

[  ]  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))

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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On June 26, 2006, Michael A. Pugh announced his resignation as Executive Vice President - Finance and Chief Financial Officer of Mitcham Industries, Inc. Robert P. Capps, currently serving as a member of Mitcham's board of directors, will assume the additional responsibilities and title of Executive Vice President - Finance and Chief Financial Officer, effective immediately. Mr. Capps resigned his position on the audit committee upon the assumption of his new responsibilities. Peter H. Blum, Chairman of the Board, will fill the vacancy created upon the resignation of Mr. Capps from the audit committee.

Mr. Capps, a certified public accountant, has served since July 1999 as Executive Vice President and Chief Financial Officer of TeraForce Technology Corporation, a publicly held provider of defense electronics products. Prior to that position, Mr. Capps was Executive Vice President and Chief Financial Officer for Dynamex, Inc., a NASDAQ-listed supplier of transportation services. From 1990 to 1995, Mr. Capps served as Chief Financial Officer for Hadson Corporation, a NYSE-listed energy company. Mr. Capps received his Bachelor of Accountancy from the University of Oklahoma in 1976 and began his career as an audit manager with Arthur Young & Company.





Item 9.01 Financial Statements and Exhibits.

(c) Exhibits
The following exhibits are filed as part of this report:

99.1 Press release issued by Mitcham Industries, Inc. on June 27, 2006





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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.

         
    Mitcham Industries, Inc.
          
June 28, 2006   By:   Billy F. Mitcham, Jr.
       
        Name: Billy F. Mitcham, Jr.
        Title: President and Chief Executive Officer

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Press release issued by Mitcham Industries, Inc. on June 27, 2006
EX-99.1

Mitcham Industries, Inc.
PRESS RELEASE

NASDAQ: MIND

FOR IMMEDIATE RELEASE            CONTACT: Christine Reel
713.629.1316

MITCHAM INDUSTRIES ANNOUNCES MANAGEMENT CHANGE

HUNTSVILLE, Texas – June 26, 2006 – Mitcham Industries, Inc. (NASDAQ:MIND) today announced the departure of Michael A. Pugh who had served as Chief Financial Officer of Mitcham Industries since December 2004. The Company said that Mr. Robert P. Capps, currently serving as a member of its board of directors, will assume the additional positions of Executive Vice President — Finance and Chief Financial Officer effective immediately. The Company said that upon the assumption of these responsibilities Mr. Capps will resign his position on the audit committee, which will be filled by Mr. Peter H. Blum, Chairman of the Board.

Mr. Capps, a certified public accountant, has served as Executive Vice President and Chief Financial Officer of TeraForce Technology Corporation, a publicly held provider of defense electronics products. Prior to that position, Mr. Capps was Executive Vice President and Chief Financial Officer for Dynamex, Inc., a NASDAQ-listed supplier of transportation services. From 1990 to 1995, Mr. Capps served as Chief Financial Officer for Hadson Corporation, a NYSE-listed energy company. Mr. Capps received his Bachelor of Accountancy from the University of Oklahoma in 1976 and began his career as an audit manager with Arthur Young & Company.

“We are pleased to have someone with Robert Capps’ capabilities and knowledge of the Company to fill the vacancy left by Mike’s departure,” said Billy F. Mitcham, Jr., Mitcham Industries’ President and CEO. “We are also grateful for Mike’s efforts on our behalf and wish him well in his future endeavors.”

Mitcham Industries, Inc., a geophysical equipment supplier, offers for lease or sale, new and “experienced” seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. Headquartered in Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; and the United Kingdom and with associates throughout Europe, South America and Asia, Mitcham conducts operations on a global scale and is the largest independent exploration equipment lessor in the industry.

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