<PAGE>
=================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
September 14, 1998
------------------------------------------------
Date of Report (Date of earliest event reported)
STARTEC GLOBAL COMMUNICATIONS CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Maryland 000-23087 52-1660985
- -----------------------------------------------------------------
(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification
Incorporation No.)
10411 Motor City Drive Bethesda, Maryland 20817
- -----------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
301-365-8959
---------------------------------------------------
Not applicable
- ---------------------------------------------------------
Former name or former address, if changed since last report)
=================================================================
<PAGE>
Item 5. Other Events.
The Company previously issued the accompanying press
releases announcing that (i) it had acquired all of the
outstanding stock of Trans Pacific Technology, Inc., a signatory
owner of the Sea-Me-We-3 undersea cable consortium, (ii) its
domestic network expansion into California and Texas, and (iii)
its purchase of a 45 megabit circuit (DS-3) on the Gemini
transatlantic cable between New York City and the United Kingdom.
Item 7. Financial Statements and Exhibits.
Exhibits
- --------
99.1 Press Release dated September 3, 1998.
99.2 Press Release dated August 20, 1998.
99.3 Press Release dated July 6, 1998.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this Report
to be signed on its behalf by the undersigned thereunto duly
authorized.
STARTEC GLOBAL COMMUNICATIONS CORPORATION
By: /s/ PRABHAV V. MANIYAR
-----------------------------------
Prabhav V. Maniyar
Senior Vice President and Chief
Financial Officer
Dated: September 14, 1998
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page
- ----------- ----------------------------------- -----
99.1 Press Release dated September 3, 1998
99.2 Press Release dated August 20, 1998
99.3 Press Release dated July 6, 1998
EXHIBIT 99.1
Company Press Release
STARTEC Global Expands Network Adding Undersea Cable Capacity
BETHESDA, MD September 3, 1998 - Startec Global Communications
Corporation (Nasdaq: STGC), announced today that it has acquired
all of the outstanding stock of Trans Pacific Technology, Inc., a
signatory owner of Sea-Me-We-3 (SMW-3) undersea cable consortium.
The SMW-3 cable connects 34 countries across Europe, the Middle
East, and Asia. The acquisition provides Startec Global with up
to eight E-1s and significantly expands its network into these
regions.
"The acquisition of this cable capacity is key to our strategy of
building facilities on select international routes. We have been
successful in attracting customers who call into these regions,
and now we will be able to transport our customers' calls into
these regions on our own network. As we have stated in the past,
we are committed to the expansion of our international network
facilities. This is another of a series of steps that will allow
us to climb the industry paradigm to becoming a full fledged
dual-sided facilities-based international long-distance company,"
noted Mr. Ram Mukunda, President and Chief Executive Officer of
Startec Global.
"Signatory ownership is expected to represent significant cost
savings as we grow and purchase additional cable capacity. As
deregulation permits, we will utilize this capacity to link our
international gateway switches over an ATM/IP backbone," added
Mr. Mukunda.
SMW-3 links key cities in Europe, the Middle East and Asia, and
the cable is expected to be on-line between year-end 1998 and the
early part of 1999.
Startec Global currently owns IRUs on the CANUS 1, CANTAT-3,
COLUMBUS II digital fiber optic undersea cables, and is a
signatory owner in the COLUMBUS III cable. Additionally, it owns
DS-3 capacity on the GEMINI cable.
Startec Global Communications Corporation is a facilities-based
international long distance carrier, which markets its services
to select ethnic U.S. residential communities. The Company
provides its services through a flexible network of owned and
leased transmission facilities, resale arrangements and a variety
of operating agreements and termination agreements, allowing the
Company to terminate traffic worldwide.
Except for the historical information contained herein, this
release contains forward-looking statements which are based on
current expectations and which may differ materially from actual
results. These forward-looking statements fall within the scope
of Section 27A of the Securities Act of 1933, as amended, and
Section 21 of the Securities Exchange Act of 1934, as amended,
and are subject to the safe harbors created thereby.
Forward-looking statements include, but are not limited to, those
statements regarding management's plans, marketing strategy,
targets and strategy for future expansion, and future fiscal
performance. The Company's actual results could differ
materially from those anticipated by the forward-looking
statements as a result of certain factors such as changes in
market conditions, government regulation, technology, the
international telecommunications industry, and the global
economy; availability of transmission facilities; management of
rapid growth; entry into new and developing markets; competition;
customer concentration and attrition; and the expansion of the
global network. These risk factors are discussed in further
detail in the Company's SEC's filings, including the prospectus
relating to the Company's initial public offering (SEC File No.
333-32753), and its Annual Report on Form 10-K for the year ended
December 31, 1997.
Contact: Prabhav V. Maniyar
Chief Financial Officer
(301) 365-8959
EXHIBIT 99.2
Company Press Release
STARTEC Global Expands Domestic Network to Texas and California
BETHESDA, MD August 20, 1998 Startec Global Communications
Corporation (Nasdaq:STGC), an international long-distance
telecommunications company, announces the expansion of its
domestic network to bring Texas and California onto its own
network ("on net"). Through the expansion of its Point of
Presence (POP) sites in Dallas and Los Angeles, Startec Global
has now expanded its reach to 17 major metropolitan residential
marketing areas.
"We are moving ahead aggressively on our network expansion plans
to increase traffic on our own network. The network now includes
major cities in Texas such as Dallas and Houston and key cities
in California such as San Francisco, San Diego, and Los Angeles.
The POP site in Los Angeles has also made it possible for us to
bring customers in the nearby marketing areas of Seattle,
Phoenix, and Las Vegas on net. In addition to these cities, we
have also brought Philadelphia on net through our Washington D.C.
POP site," said Mr. Ram Mukunda, President and Chief Executive
Officer of Startec Global.
By bringing these major metropolitan areas on net, Startec Global
controls the origination of calls, which enables it to add value
on two fronts - customer service and cost reduction of call
origination. With respect to service, Startec Global can now
provide higher quality service to its customers residing in these
areas. Value-added customer service will include quicker and
more efficient responses to customer issues, the elimination of
cumbersome 800 numbers when placing a call, and service
initiation for new customers within a 24-hour period. On the
cost front, a direct local connection reduces the origination
portion of the cost of a call.
Commenting on the expansion, Mr. Mukunda noted, "The network
expansion represents an important development for us as it will
allow us to aggressively market in these important ethnically
populated cities. Now that we have these areas on our network,
we intend to expand our marketing efforts for broader penetration
into existing and new ethnic groups. Since our IPO in October of
1997, we have increased the number of ethnic customer segments
from 13 to 27 at the end of the second quarter of 1998. This
geographic and segment expansion is a cornerstone of our
strategy."
Startec Global Communications Corporation is a facilities-based
international long distance carrier, which markets its services
to select ethnic U.S. residential communities. The Company
provides its services through a flexible network of owned and
leased transmission facilities, resale arrangements and a variety
of operating agreements and termination agreements, allowing the
Company to terminate traffic worldwide.
Except for the historical information contained herein, this
release contains forward-looking statements which are based on
current expectations and which may differ materially from actual
results. These forward-looking statements fall within the scope
of Section 27A of the Securities Act of 1933, as amended, and
Section 21 of the Securities Exchange Act of 1934, as amended,
and are subject to the safe harbors created thereby.
Forward-looking statements include, but are not limited to, those
statements regarding management's plans, marketing strategy,
targets and strategy for future expansion, and future fiscal
performance. The Company's actual results could differ
materially from those anticipated by the forward-looking
statements as a result of certain factors such as changes in
market conditions, government regulation, technology, the
international telecommunications industry, and the global
economy; availability of transmission facilities; management of
rapid growth; entry into new and developing markets; competition;
customer concentration and attrition; and the expansion of the
global network. These risk factors are discussed in further
detail in the Company's SEC's filings, including the prospectus
relating to the Company's initial public offering (SEC File No.
333-32753), and its Annual Report on Form 10-K for the year ended
December 31, 1997.
Contact: Prabhav V. Maniyar
Chief Financial Officer
(301) 365-8959
EXHIBIT 99.3
Company Press Release
STARTEC GLOBAL expands European operations with Gemini cable
purchase
BETHESDA, MD--(BUSINESS WIRE) July 6, 1998 STARTEC Global
Communications Corporation (NASDAQ:STGC), an international long-
distance telecommunications company, announces the purchase of a
45 megabit circuit (DS-3) on the Gemini transatlantic cable
between New York City and the United Kingdom. A key component of
the Company's business strategy is its planned expansion into
international markets. The Gemini cable purchase significantly
expands Startec Global's strategy to migrate increased traffic
onto its owned network.
In conjunction with the Gemini purchase, Startec Global will also
activate an E-1 link between the United Kingdom and Amsterdam and
also between the United Kingdom and Paris. These links will now
allow Startec Global to offer wholesale services to carriers
based in both Amsterdam and Paris.
We are extremely pleased with the progress of our European
expansion plans, said Mr. Ram Mukunda, President and Chief
Executive Officer of Startec Global. "The purchase of capacity
on the Gemini cable is an integral part of our European entry
strategy and will allow us to connect with many more wholesale
and retail service providers in Europe, thus creating an
increased presence in these countries," he added.
"Not only will capacity on the Gemini cable system allow us to
begin targeting customers in the United Kingdom and Western
Europe, it will also help us pursue our strategy of becoming a
dual-sided facilities-based provider," said Mr. Mukunda.
Startec Global currently owns IRUs in the CANUS 1, CANTAT-3, and
COLUMBUS II digital fiber optic undersea cables, and is also a
signatory owner in the COLUMBUS III cable.
Startec Global Communications Corporation is a facilities-based
international long distance carrier, which markets its services
to select ethnic U.S. residential communities. The Company
provides its services through a flexible network of owned and
leased transmission facilities, resale arrangements and a variety
of operating agreements and termination agreements, allowing the
Company to terminate traffic worldwide.
Except for the historical information contained herein, this
release contains forward-looking statements, which are based on
current expectations and may differ materially from actual
results. These forward-looking statements fall within the scope
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
and are subject to the safe harbors created thereby. Forward-
looking statements include, but are not limited to, those
statements regarding management's plans, marketing strategy,
targets and strategy for future expansion, and future fiscal
performance. The Company's actual results could differ
materially from those anticipated by the forward-looking
statements as a result of certain factors such as, change in
market conditions, government regulation, technology, the
international telecommunications industry, and the global
economy; availability of transmission facilities; management of
rapid growth; entry into new and developing markets; competition;
customer concentration and attrition; and the expansion of the
global network. These risk factors are discussed in further
detail in the Company's SEC filings, including the prospectus
relating to the Company's initial public offering (SEC File No.
333-32753), Annual Report on Form 10-K for the year ended
December 31, 1997, and the Quarterly Report on Form 10-Q for the
three months ended March 31, 1998.
