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): September 14, 1998
TURBODYNE TECHNOLOGIES INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21391 95-4699061
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
21700 Oxnard Street, Suite 1550
Woodland Hills, CA 91367
(Address of Principal Executive Offices)
(818) 593-2282
(Registrant's Telephone Number)
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ITEM 5. OTHER EVENTS
Reference is made to Registrant's press release issued on September 14,
1998, which contains information meeting the requirements of this Item 5, and
which is incorporated herein by this reference. A copy of the press release is
attached to this Form 8-K as Exhibit 99.1.
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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.
September 16, 1998 TURBODYNE TECHNOLOGIES INC.
By: /S/ KHAL A. KADER
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Khal A. Kader
Chief Financial Officer
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EXHIBIT INDEX
EXHIBITS PAGE NUMBER
99.1 Press Release dated September 14, 1998.
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EXHIBIT 99.1
WOODLAND HILLS, Calif., Sept. 14-- Turbodyne Technologies Inc. (Nasdaq:
TRBD; Easdaq), ("the Company"), reported today that both directors up for
re-election, and the Company's 1998 Stock Incentive Plan, were approved by
shareholders at the Company's annual meeting on Friday, September 11, 1998.
Re-elected to Turbodyne's board of directors were Walter F. Ware, 55,
Turbodyne's President & CEO and Robert Taylor, 58, former director and president
of Shell Canada Products. Mr. Taylor retired from Shell in 1996. Both Mr. Ware
and Mr. Taylor were re-elected to serve a three-year term.
During the meeting, Turbodyne's chief litigation counsel announced, "The
board of directors has instructed us to proceed vigorously with legal action
against Asensio & Company and other parties that have disseminated and published
false and misleading information about Turbodyne. Legal action will be filed in
the United States under the provisions of applicable laws, as well as in Germany
through Turbodyne's counsel in Frankfurt, on behalf of the corporation and
stockholders as applicable." Further details about these actions will be
announced, as they become available.
Turbodyne Systems, the Engine Technology Division of Turbodyne, develops,
manufactures, designs, and markets patented pollution-reduction, fuel economy
and performance enhancing products for internal combustion engines in the
automotive, transportation, construction, marine, agriculture, mining, military
and power generation industries. Turbodyne's Light Metals Division is a
manufacturer of machined aluminum castings and a leading supplier to the
automotive industry.
Offices and plants are located in Carpinteria, La Mirada, Encinitas and
Woodland Hills, CA; Ensenada and Mexico City, Mexico; Vancouver, Canada;
Northants, England; Paris, France and Frankfurt, Germany.
Please visit Turbodyne's website. The world wide web address is:
HTTP://WWW.TURBODYNE.COM.
Except for the historical information contained in this news release, the
matters discussed herein include forward-looking statements that involve risks
and uncertainties. Among the important factors that could cause actual results
to differ from those indicated in the forward-looking statements are the ability
of the company to contain expenses, conditions within the global automotive
market, general economic conditions, and political changes both domestically and
overseas.
SOURCE: TURBODYNE TECHNOLOGIES INC.
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