8-K/A, 2001-01-19
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                                   FORM 8-K/A

                        Date of Report: January 19, 2001

                               Trimol Group, Inc.
                              (Name of Registrant)

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

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

                                 (212) 554-4394

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 73.1% 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.

     On December 16, 2000, Magnum assigned (the "Assignment") all of its rights,
obligations   and  liabilities   created  under  the  Loan  to  Starbeam,   Ltd.
("Starbeam"), a corporation effectively owned and controlled by Mr. Birshtein.

     In response  to  risk-based  capital  adequacy  regulations,  issued by the
National Bank of Moldova,  reguiring all banks  operating  with a "B" license to
maintain a minimum  capital  amount,  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 to
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 Starbeam in exchange for the  US$1,216,000  capital infusion and in
further satisfaction of the Loan 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 Garnier"),  a corporation
organized under the laws of Ireland and wholly owned by Trimol for consolidation
purposes.  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 the  Exim-Asint's  previous owners are wholly owned,  either directly or
indirectly, by Trimol.


                                            TRIMOL GROUP, INC.

January 19, 2001

                                            By: /s/ Alex Gordin

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