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
DATE OF EARLIEST REPORTED EVENT DECEMBER 17, 1998
NEWMARK HOMES CORP.
(Exact name of Registrant as specified in its charter)
NEVADA 333-42213 76-0460831
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
1200 SOLDIERS FIELD DRIVE
SUGAR LAND, TEXAS 77479
(Address of Registrant's principal executive offices)
281-243-0100
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 1. CHANGES IN CONTROL OF THE REGISTRANT
The Registrant has been advised that the holder of shares representing 80% of
the Registrant's outstand-ing common stock, $.01 par value (the "Common Stock")
has pledged those shares in support of a commercial loan. Pacific Realty Group,
Inc., a Nevada corporation ("PRG"), which is the wholly owned subsidiary of
Pacific USA Holdings Corp., a Texas corporation ("PUSA"), which is the wholly
owned subsidiary of Pacific Electric Wire & Cable Co., Ltd., beneficially owns
9,200,000 shares (the "Shares") of Common Stock of the Registrant, which
represent 80% of the issued and outstanding Common Stock. PRG has pledged to
certain banks all of the Shares in conjunc-tion with a Loan Agreement, as
described below.
On December 17, 1998, PUSA and a sister corporation entered into an $85 million
loan agreement (the "Loan Agreement") with a commercial bank (the "Bank"), in
the ordinary course of their business and, in connection there-with and in
support of the obligation of its parent corporation and the sister corporation,
PRG pledged as collateral all of the Shares to the Bank.
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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, thereunto duly authorized.
NEWMARK HOMES CORP.
January 4, 1999
By: /s/ Michael K. McCraw
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Michael K. McCraw, Chairman
