SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): February 16, 1999
FIRST SOUTH AFRICA CORP., LTD
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(Exact Name of Registrant as Specified in Charter)
Bermuda 0-27494 Not Applicable
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File No.) Identification No.)
Clarendon House, Church Street, Hamilton HM CX, Bermuda
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (441) 295-1422
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The following transactions relating to issued and outstanding
shares of Class A and Class B Common Stock of First South Africa Corp., Ltd.
(the "Company") have been effectuated:
312,384 shares of the Company's Class B Common Stock have been
converted by holders to 312,384 shares of Class A Common Stock.
563,527 shares of the Company's Class B Common Stock currently
held in escrow with American Stock Transfer & Trust Company ("AST") have been
converted by holders to 563,527 shares of the Company's Class A Common Stock and
Michael Levy has transferred his voting proxy on these shares to AST.
Michael Levy has transferred his voting proxy on 238,429
shares of Class A Common Stock to AST. The shares are currently held in escrow
with AST as escrow agent.
Subject to final confirmation from certain shareholders
confirming the repurchase of their shares in the Company by First South African
Holdings, a wholly-owned subsidiary of the Company, AST will retire an
additional 1,415,045 shares of Company Class A Common Stock.
Following completion of the foregoing events, the Company will
have 5,166,832 shares of Class A Common Stock and 946,589 shares of Class B
Common Stock issued and outstanding.
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SIGNATURE
Pursuant to the requirement 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.
Dated: February 18, 1999
FIRST SOUTH AFRICA CORP., LTD.
By: /s/ Clive Kabatznik
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Clive Kabatznik
Chief Executive Officer, President
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