TRIMOL GROUP INC
8-K, 2000-12-21
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                                    FORM 8-K

                        Date of Report: December 19, 2000

                               Trimol Group, Inc.
                              (Name of Registrant)

Delaware                             0-28144                          13-3859706
--------                        -----------------                     ----------
State of                        Commission File #                      IRS EIN
  Inc.

           1285 Avenue of the Americas, 35th Floor, New York, NY 10019
                                     Address

                                 (212) 554-4394
                                    Telephone

Item 2.  Acquisition or Disposition of Assets.

     On June  18,  2000,  Trimol  Group,  Inc.  ("Trimol")  entered  into a loan
arrangement with a controlling  stockholder,  Magnum Associates Ltd. ("Magnum"),
which is owned and  controlled  by Boris  Birshtein,  a Director and  beneficial
owner of 69.6% of Trimol.

     Magnum loaned  Trimol US $796,000 (the "Loan"),  which was needed by Trimol
to  fulfill  increased  statutory  capital   requirements   imposed  upon  Banca
Commerciala  pe Actiuni  "Export-Import"  (the "Bank") by the  National  Bank of
Moldova.  The  capital  stock of the Bank is owned  equally by  Maximilia,  Ltd.
("Maximilia") and Sturge, Ltd.  ("Sturge"),  which are wholly owned subsidiaries
of Trimol.  The Trimol Board of  Directors  (the  "Board")  accepted the Loan by
resolution  after several failed  attempts were made to obtain the money through
independent  third parties.  On June 28, 2000, the Board approved the payment of
US  $74,000  on the Loan,  thereby  reducing  the  principal  amount  owed to US
$722,000.

     In December 2000, the National Bank of Moldova  issued  risk-based  capital
adequacy  regulations  requiring  all  banks  operating  with a "B"  license  to
maintain a minimum capital amount.  Pursuant to these regulations,  the Bank was
forced to again increase its capital,  this time, in the amount of US $1,216,000
on or prior to December 31, 2000. The Board was  unsuccessful in its attempts to
secure  financing  through  independent  third  parties  to meet  these  capital
requirements.  Thus in order  raise  the US  $1,216,000  to meet  the  increased
capital  requirements  and for the Bank to maintain its "B" license,  the Board,
through  resolution,  approved  the  transfer  of 100% of the  capital  stock of
Maximilia  and 50% of the capital  stock of Sturge to Magnum in exchange  for US
$1,216,000  capital  infusion  to the Bank and in  further  satisfaction  of the
original debt in the principal amount of US $722,000.

     Prior to the transactions  outlined above, the Board, acting by resolution,
approved  the  transfer  of  all  of  the  capital  stock  of  Exim-Asint   S.A.
("Exim-Asint")  directly to Paul Garnier,  Ltd. ("Paul



<PAGE>

Garnier"), a corporation organized under the laws of Ireland and wholly owned by
Trimol.  Exim-Asint  is a  corporation  organized  under the laws of Moldova and
currently operates in the Moldovan insurance industry.  Prior to the transfer to
Paul Garnier, Exim-Asint's capital stock was owned by Maximilia in the amount of
55%,  the Bank in the amount of 30%,  and by Paul  Garnier in the amount of 15%.
Each of  Exim-Asint's  previous  owners are wholly  owned,  either  directly  or
indirectly, by Trimol.



SIGNATURES

                                            Trimol Group, Inc.

December 19, 2000                           By: /s/ Alex Gordin
                                               --------------------




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