SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
AremisSoft Corporation
------------------------
(Name of Issuer)
Common Stock, $.001 par value
-------------------------------
(Title of Class of Securities)
040036-10-6
----------------
(CUSIP Number)
Aremis Holdings, Ltd
123 Strovolos Avenue
2092 Nicosia, Cyprus
Attn: Dr. Lycourgos K. Kyprianou
--------- ----------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 17, 2000
-------------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. 9
Check the following box if a fee is being paid with the statement. 9 (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
* 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 the
disclosures provided in a prior cover page.
The information required in 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 ("Act") 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>2
CUSIP No. 040026-10-6
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1. NAME OF REPORTING PERSON AREMIS HOLDINGS, LTD
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a [ ]
N/A b [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
N/A
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the British Virgin Islands
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 1,587,790
SHARES ---------------------------------------
BENEFICIALLY
OWNED 8. SHARED VOTING POWER
BY EACH
REPORTING 2,704,456
PERSON WITH ---------------------------------------
9. SOLE DISPOSITIVE POWER
1,587,790
---------------------------------------
10. SHARED DISPOSITIVE POWER
2,704,456
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,704,456
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.04%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGES, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>3
CUSIP No. 040026-10-6
1. NAME OF REPORTING PERSON AREMIS TECHNOLOGY VENTURES, LTD
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a [ ]
N/A b [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
N/A
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the British Virgin Islands
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 300,000
SHARES ---------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED
BY EACH 2,704,456
REPORTING ---------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
300,000
---------------------------------
10. SHARED DISPOSITIVE POWER
2,704,456
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,704,456
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.04%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGES, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>4
CUSIP No. 040026-10-6
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SINCOCK HOLDINGS CORPORATION
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a [ ]
N/A b [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
N/A
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the British Virgin Islands
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 816,666
SHARES --------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED
BY EACH 2,704,456
REPORTING --------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
816,666
--------------------------------------
10. SHARED DISPOSITIVE POWER
2,704,456
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,704,456
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.04%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGES, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>5
CUSIP No. 040026-10-6
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON DR. LYCOURGOS K. KYPRIANOU
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a [ ]
N/A b [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
N/A
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
CYPRUS
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED
BY EACH 2,704,456
REPORTING -----------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
-----------------------------------
10. SHARED DISPOSITIVE POWER
2,704,456
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,704,456
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.04%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGES, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>6
Item 1. Security and Issuer.
This statement relates to the voting Common Stock, $.001 par value, of
AremisSoft Corporation, a Delaware corporation ("AremisSoft" or the "Company").
The address for the Company's principal executive offices is 216 Haddon Avenue,
Suite 607, Westmont, NJ 08108.
Item 2. Identity and Background.
The person filing this statement and the person enumerated in
Instruction C of Schedule 13D, its place of organization, directors, executive
officers and controlling person, is as follows:
Aremis Holdings, Ltd is a corporation organized under the laws o0
the British Virgin Islands. Dr. Lycourgos K. Kyprianou is the sole director and
officer of Aremis Holdings, Ltd. The principal business address and principal
office of Aremis Holdings, Ltd is 123 Strovolos Avenue, 2092 Nicosia, Cyprus.
The principal business of Aremis Holdings, Ltd is managing Dr. Kyprianou's
investments. Dr. Kyprianou is also the Chief Technical Officer and Chairman of
the Board of AremisSoft.
Aremis Technology Ventures, Ltd is a corporation organized under
the laws of the British Virgin Islands. Dr. Lycourgos K. Kyprianou is the sole
director and officer of Aremis Technology Ventures, Ltd. The principal business
address and principal office of Aremis Technology Ventures, Ltd is 123 Strovolos
Avenue, 2092 Nicosia, Cyprus. The principal business of Aremis Technology
Ventures, Ltd is managing Dr. Kyprianou's investments. Dr. Kyprianou is also the
Chief Technical Officer and Chairman of the Board of AremisSoft.
Sincock Holdings Corporation is a corporation organized under the laws
of the British Virgin Islands. Tasso Patsalides is the sole director and officer
of Sincock Holdings Corporation. Dr. Lycourgos K. Kyprianou is the investment
manager of Sincock Holdings Corproation. The principal business address and
principal office of Sincock Holdings Corporation is 123 Strovolos Avenue, 2092
Nicosia, Cyprus. The principal business of Sincock Holdings Corporation is
managing Dr. Kyprianou's stcok option investments. Dr. Kyprianou is also the
Chief Technical Officer and Chairman of the Board of AremisSoft.
Neither Aremis Holdings, Ltd, Aremis Technology Ventures, Ltd., Sincock
Holdings Corporation, Tasso Patsalides nor Dr. Kyprianou have, during the past
five years, (i) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or (ii) been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to United States federal or state securities laws or finding any violations with
respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Aremis Holdings, Ltd. received 3,187,790 shares directly from LK Global
(Holdings) NV, a Netherlands corporation without consideration and Aremis
Technology Ventures, Ltd. received 300,000 shares of the Company's common stock
directly from LK Global (Holdings) NV without consideration as part of a
reorganization of Dr. Kyprianou's shareholdings. Dr. Kyprianou is the sole
director, officer and shareholder of LK Global (Holdings) NV. These shares were
transferred by Dr. Kyprianou from LK Global (Holdings) NV to Aremis Holdings,
Ltd. and Aremis Technology Ventures, Ltd. for tax planning purposes and to
effect a "reincorporation" from the Netherlands to the British Virgin Islands.
As part of Dr. Kyprianou's overall estate plan, on November 17, 2000, a total of
1,075,000 options to purchase the Company's common stock were also transferred
to Sincock Holdings Corporation, a British Virgin Islands corporation, for no
consideration. Of the 1,075,000 options transferred to Sincock Holdings
Corporation, 816,666 options represent the right to purchase shares of the
<PAGE>7
Company's common stock currently, or within sixty days, and are deemed to be
included in Sincock Holdings Corporation's beneficial ownership of the Company's
common stock pursuant to SEC Rule 13d-3(d). As part of Dr. Kyprianou's overall
tax and estate planning, Aremis Holdings, Ltd. transferred a total of 1,600,000
shares of the Company's common stock without consideration to entities which are
not controlled by Dr. Kyprianou. Consequently, Dr. Kyprianou no longer has
voting or dispositive power over these shares and, therefore, is no longer
deemed to be the beneficial owner thereof pursuant to SEC Rule 13d-3. After
these transfers, LK Global (Holdings) NV does not beneficially own any of the
Company's common stock under SEC Rule 13d-3.
Item 4. Purpose of the Transactions.
The transactions described under Item 3 above were consummated by Dr.
Kyprianou as an overall tax and estate plan and did not involve any sale or
other disposition of any shares of the Company's common stock for value.
a. Aremis Holdings, Ltd., Aremis Technology Ventures, Ltd.,
Sincock Holdings Corporation and Dr. Lycourgos K. Kyrprianou, subject to and
depending upon availability at prices deemed favorable by them, may purchase
additional shares of the Company's Common Stock from time to time in the open
market or in privately negotiated transactions with third parties. Affiliates of
Aremis Holdings, Ltd., Aremis Technology Ventures, Ltd., Sincock Holdings
Corporation and Dr. Lycourgos K. Kyrprianou, or others, may, from time to time,
purchase additional shares. Further, while it is not the present intention of
Aremis Holdings, Ltd., Aremis Technology Ventures, Ltd., Sincock Holdings
Corporation and Dr. Lycourgos K. Kyrprianou to do so, they reserves the right to
dispose of the shares of Common Stock held by them, with or without
consideration, in the open market, in privately negotiated transactions with
third parties or otherwise, depending upon market conditions and other factors.
b. Aremis Holdings, Ltd., Aremis Technology Ventures, Ltd.,
Sincock Holdings Corporation and Dr. Lycourgos K. Kyrprianou. have no current
plans or proposals which relate to or would result in any of the following:
(i) An extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving
AremisSoft or any of its subsidiaries;
(ii) A sale or transfer of a material amount of assets of
AremisSoft or any of its subsidiaries;
(iii) Any change in the present board of directors or
management of AremisSoft, including any plans or
proposals to change the number or term of directors or
to fill any existing vacancies on the board;
(iv) Any material change in the present capitalization or
dividend policy of AremisSoft;
(v) Any other material change in AremisSoft's business or
corporate structure;
(vi) Changes in AremisSoft's charter, bylaws or instruments
corresponding thereto or other actions which may impede
the acquisition of control of AremisSoft by any person;
(vii) Causing a class of securities of AremisSoft to be
delisted from a national securities exchange or to
cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities
association;
<PAGE>8
(viii) A class of equity securities of AremisSoft becoming
eligible for termination of registration pursuant to
Section 12(g)(4) of the Act; or
(ix) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
Aremis Holdings, Ltd. has sole voting and dispositive power over
1,587,790 shares of the Company's common stock. In addition, Aremis Holdings,
Ltd. shares voting and dispositive power over an additional 300,000 shares owned
by Aremis Technology Ventures, Ltd., a British Virgin Islands corporation over
which Dr. Kyprianou controls and therefore has voting and dispositive power
these shares. Finally, Aremis Holdings, Ltd. shares voting and dispositive power
with Sincock Holdings Corporation, a British Virgin Islands corporation, over
options to acquire, withing the meaning of SEC Rule 13d-3(d), 816,666 shares of
the Company's common stock. Consequently, Aremis Holdings Ltd., Aremis
Technology Ventures, Ltd., Sincock Holdings Corporation, and Dr. Lycourgos K.
Kyprianou are all deemed to have beneficial ownership over 2,707.456 shares of
the Company's common stock, or 16.04% of the Company's issued and outstanding
shares, 816,666 shares or 4.84% are attributable to options representing the
right to acquire shares of the Company's common stock.
On October 8, 2000, a voting agreement between Info-quest SA, a Greek
corporation owning approximately 3,492,923 shares of the Company's common stock
and LK Global (Holdings) NV, a Netherlands corporation controlled by Dr.
Kyprianou, expired by its terms. Consequently, LK Global (Holdings) NV, Dr.
Kyprianou, and Aremis Holdings, Ltd. are no longer deemed to beneficially own
the shares of the Company's common stock owned by Info-quest SA.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
None.
Item 7. Materials to be Filed as Exhibits.
Exhibit 7.1...................Agreement to File Joint Schedule 13D
<PAGE>9
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct. This signature page may be executed in one or more
counterparts, each of which shall constitute one and the same instrument.
Dated: November 17, 2000 Aremis Holdings, Ltd.
a British Virgin Islands corporation
/s/ DR. LYCOURGOS K. KYPRIANOU
------------------------------------
Dr. Lycourgos K. Kyprianou*
Dated: November 17, 2000 Aremis Technology Ventures, Ltd.
a British Virgin Islands corporation
/s/ DR. LYCOURGOS K. KYPRIANOU
-----------------------------------
Dr. Lycourgos K. Kyprianou*
Dated: November 17, 2000 Sincock Holdings Corporation
a British Virgin Islands Corporation
/s/ DR. LYCOURGOS K. KYPRIANOU
------------------------------------
Dr. Lycourgos K. Kyprianou*
Dated: November 17, 2000
/s/ DR. LYCOURGOS K. KYPRIANOU
------------------------------------
Dr. Lycourgos K. Kyprianou,
an individual
*By Power of Attorney
<PAGE>10
Exhibit 7.1
Agreement to File a Joint Schedule 13D
This Agreement to File a Joint Schedule 13D (the "Agreement") is entered
into this 17th day of November, 2000, by and between Aremis Holdings, Ltd., a
British Virgin Islands corporation, Aremis Technology Ventures, Ltd., a British
Virgin Islands corporation, Sincock Holdings Corp., a British Virgin Islands
corporation, and Dr. Lycourgos K. Kyprianou, and individual.
Solely for the purpose of filing a Joint Schedule 13D, and for no other
purpose, the parties to this agreement agree that a single Schedule 13D may be
filed on each such parties behalf pursuant to SEC Rule 13d-1(k)(1) and each
party acknowledges that each party on whose behalf the joint Schedule 13D is
filed is responsible for the timely filing of such Schedule 13D and any
amendments thereto, and for the completeness and accuracy of the information
concerning such party contained therein and further acknowledges that a party to
this Agreement is not responsible for the completeness or accuracy of the
information concerning another party unless such party knows, or has reason to
believe that such information is inaccurate.
By executing this Agreement, Aremis Holdings, Ltd., a British Virgin
Islands corporation, Aremis Technology Ventures, Ltd., a British Virgin Islands
corporation, Sincock Holdings Corp., a British Virgin Islands corporation,
hereby appoint Dr. Lycourgos K. Kyprianou as their true and lawful
attorney-in-fact and agent, with full power of substitution and re-substitution,
for them and in their names, places, and steads, in any and all capacities, to
sign the Joint Schedule 13D and any and all amendments thereto, granting unto
him full power and authority to do and perform each and every act and thing
requisite and necessary to be done in connection therewith, as fully to all
intents and purposes as they might and could do itself, hereby ratifying and
confirming that he, or his substitute or substitutes, may lawfully do or cause
to be done by virtue hereof.
Dated: November 17, 2000 Aremis Holdings, Ltd.
a British Virgin Islands corporation
/s/ DR. LYCOURGOS K. KYPRIANOU
------------------------------------
Dr. Lycourgos K. Kyprianou,
Managing Director
Dated: November 17, 2000 Aremis Technology Ventures, Ltd.
a British Virgin Islands corporation
/s/ DR. LYCOURGOS K. KYPRIANOU
-------------------------------------
Dr. Lycourgos K. Kyprianou,
Managing Director
<PAGE>11
Dated: November 17, 2000 Sincock Holdings Corporation
a British Virgin Islands Corporation
/s/ TASSO PATSALIDES
-------------------------------------
Tasso Patsalides, Managing Director
Dated: November 17, 2000
/s/ DR. LYCOURGOS K. KYPRIANOU
-------------------------------------
Dr. Lycourgos K. Kyprianou,
an individual
