SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. __)(1)
EURO TECH HOLDINGS COMPANY LIMITED
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
G32030101
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(CUSIP Number)
T.C. Leung, Chairman
Euro Tech Holdings Company Limited
18/F Gee Chang Hong Centre
65 Wong Chuk Hong Road
Hong Kong
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 25, 1999
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box |_|.
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of __ Pages)
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(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
CUSIP No. G32030101 SCHEDULE 13D Page 2 of 9 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
T.C. Leung No Tax ID No. - Not U.S. Citizen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong
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7 SOLE VOTING POWER
1,144,440
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,144,440
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,544,440
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 80.3%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. G32030101 SCHEDULE 13D Page 3 of 9 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Pearl Venture LTD No Tax ID No. - Non U.S. Entity
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable - See Item 3
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
372,400
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,027,600
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 372,400
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,027,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,400,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 67.6%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. G32030101 SCHEDULE 13D Page 4 of 9 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Regent Earning Ltd. No Tax ID No. - Non U.S. Entity
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable - See Item 3
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,027,600
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,027,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,027,600
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 50%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer
The class of securities to which this Schedule 13D relates is the common
stock, par value $.01 per share (the "Common Stock"), of EURO TECH HOLDINGS
COMPANY LIMITED, a British Virgin Islands corporation (the "Issuer"). The
principal executive offices of the Issuer are located at 18/F Gee Chang Hong
Centre, 65 Wong Chuk Hong Road, Hong Kong.
Item 2. Identity and Background
This statement is being filed by a group consisting of T.C. Leung, Pearl
Venture Ltd. ("Pearl") and Regent Earning Ltd. ("Regent") (the "Reporting
Group"). Mr. Leung is an executive officer and director of the Issuer. Pearl is
a British Virgin Islands corporation which is a trust for the benefit of Mr.
Leung. Regent is a Hong Kong corporation of which Pearl is the majority
shareholder.
The respective business address of the members of the Reporting Group are
as follows:
Name Address
---- -------
T.C Leung c/o Euro Tech Holdings Company Limited
18/F Gee Change Hong Centre
65 Wong Chuk Hang Road
Hong Kong
Pearl Venture Ltd. Columbus Centre Building
Wickhams Cay
Road Town, Tortola,
British Virgin Islands
Regent Earning Ltd. Wo Hing Commercial Building
11 Wing Wo Street, Room 101
Central Hong Kong
Mr. Leung is Chairman of the Board and Chief Executive Officer of the
Issuer.
During the past five years, no member of the Reporting Group (including
the officers and directors of Pearl and Regent) has been (a) convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors), or
(b) a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result thereof was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Page 5 of 9 Pages
<PAGE>
Mr. Leung is a citizen of Hong Kong. Pearl is a British Virgin Islands
corporation. Regent is a Hong Kong corporation.
Item 3. Source and Amount of Funds or Other Consideration
Upon the closing of Issuer's initial public offering in March 1997, Issuer
issued 1,400,000 shares of its Common Stock for 1,000,000 shares of the Common
Stock of Euro Tech (Far East) Ltd. ("Far East"), which constituted all of the
capital stock of Far East. The business operations of Far East then and now
constitute the principal operations of the Issuer. Pearl and Regent owned
266,000 and 734,000 shares of Far East's capital stock, respectively, and
received, of record, proportionate numbers of shares of the Issuer's Common
Stock (1.4 shares of the Issuer's Common Stock for each share of Far East).
Following the Issuer's initial public offering, Mr. Leung received options to
purchase 1,100,000 shares of the Issuer's Common Stock, exercisable at $4.00
(350,000) and $5.50 (750,000) per share. Those options are now exercisable.
In July 1999 and through August 25, 1999, Mr. Leung has made open market
purchases of the Issuer's Common Stock at prices ranging from $1.03 to $1.50 per
share and has purchased an aggregate of 44,440 shares. Mr. Leung used personal
funds to make these purchases.
Item 4. Purpose of Transactions
Investment purposes.
Item 5. Interest in Securities of the Issuer
At August 25, 1999, the aggregate number of shares held of record by
members of the Reporting Group was 1,444,440 or approximately 69.8% of the
Issuer's issued and outstanding shares of Common Stock. Giving effect to options
owned by Mr. Leung to purchase 1,100,000 shares of the Issuer's Common Stock,
the foregoing numbers of shares and percentage increases to 2,544,440 and 80.3%,
respectively.
Mr. Leung posses sole voting and dispositive power as to the 44,440 shares
of the Issuer's Common Stock purchased in the open market by him and possesses
sole dispositive power as to the options to purchase 1,100,000 shares of the
Issuer's Common Stock.
Regent and Pearl shared voting and dispositive power as to the shares of
Common Stock owned of record by Regent (1,027,600 shares or 50% of the Issuer's
Common Stock) and Pearl possesses sole voting and dispositive power of the
372,400 shares of Common Stock owned of record by it. When Pearl's record
ownership is aggregated with its beneficial ownership in the shares held in the
name of Regent, Pearl beneficially owns 1,400,000 shares or 67.7% of Issuer's
Common Stock.
Page 6 of 9 Pages
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
None.
Item 7. Material to be Filed as Exhibits
Agreement among the Reporting Group to file a single Statement on Schedule
13D on behalf of each of them.
Page 7 of 9 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
accurate.
Dated: August 26, 1999 /s/ T.C. Leung
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T.C. Leung
PEARL VENTURE LTD.
Dated: August 26, 1999 By: /s/ K.T. Yeung
--------------------------------------
K.T. Yeung
Title: Director
REGENT EARNING LTD.
Dated: August 26, 1999 By: /s/ Eddy Wong Shing Yue
--------------------------------------
Eddy Wong Shing Yue
Title: Director
Page 8 of 9 Pages
<PAGE>
EXHIBIT
The undersigned hereby agree as follows:
WHEREAS, the undersigned may be obligated to file Statements on Schedule
13D with the United States Securities and Exchange Commission (the "SEC") to
report their beneficial ownership of the Common Stock of Euro Tech Holdings
Company Limited;
NOW, THEREFORE, the undersigned hereby agree that a single Statement on
Schedule 13D is to be filed with the SEC on behalf of each of them.
Dated: August 26, 1999 /s/ T.C. Leung
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T.C. Leung
PEARL VENTURE LTD.
Dated: August 26, 1999 By: /s/ K.T. Yeung
--------------------------------------
K.T. Yeung
Title: Director
REGENT EARNING LTD.
Dated: August 26, 1999 By: /s/ Eddy Wong Shing Yue
--------------------------------------
Eddy Wong Shing Yue
Title: Director
