UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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 1,
2000
HARRELL HOSPITALITY GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-266113-1946181
(Commission File Number)(IRS Employer Identification No.)
16475 Dallas Parkway, Suite 410, Dallas, Texas75248
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code:(972) 380-0273
Harrell International, Inc., 211 East Louisiana Street, McKinney,
Texas 75069
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
On September 1, 2000, Harrell Hospitality Group, Inc. (the
_Company_) purchased 3,750,000 shares of the common stock of
Cybertec Holdings PLC, a United Kingdom publicly listed company
(_Cybertec_) from First Merchant Capital, Ltd. for a purchase
price of 4.4 pence per share (approximately $0.065333 per share
based on an exchange rate at the time of #1.00 = US$1.48). The
purchase was made using working capital of the Company.
Cybertec is a company that invests in high technology companies
and real estate. Cybertec trades in the off-exchange securities
market, and as of September 11, 2000, the trading price was
approximately 11 pence per share. As of September 1, 2000,
Cybertec had approximately 51,725,000 shares outstanding, and the
purchase by the Company constitutes an acquisition of
approximately 7.25% of the outstanding common stock of Cybertec.
Geoff G. Dart, who is managing director of First Merchant
Capital, Ltd., is also Chairman of the Board of the Company and
abstained from voting on the acquisition of the Cybertec shares.
Prior to the purchase by the Company, First Merchant Capital,
Ltd. and its affiliates owned approximately 7,300,000 shares of
Cybertec, constituting approximately 14.4% of the outstanding
stock of Cybertec.
On August 23, 2000 the Company issued 110,000 shares of the
Company's Class A Common Stock to Cybertec at a purchase price of
$2.50 per share. The funds received from this stock issuance
($275,000) formed a part of the working capital of the Company.
Item 5. Other Events.
Effective September 5, 2000, the Company relocated its
principal offices to 16475 Dallas Parkway, Suite 410, Dallas,
Texas 75248; telephone:(972) 380-0273; fax: (972) 380-4795.
Item 7. Financial Statements and Exhibits.
a. Text of Press Release dated September 7, 2000.
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.
By Order of the Board of Directors,
Paul L. Barham, Chief Executive
Officer
Dallas, Texas
September 13, 2000
Dallas, TX
September 7, 2000
FOR IMMEDIATE RELEASE
Paul Barham, CEO of Harrell Hospitality Group, Inc., today
announced that it had relocated its offices from McKinney, Texas
to Bent Tree Tower One, 16475 Dallas Parkway, Suite 410, Dallas,
Dallas,
Texas, 75248.
He also announced that the Company had sold 110,000 shares of its
Class A common stock at $2.50 per share in a private transaction
to Cybertec Holdings PLC, a United Kingdom publicly listed
company with interests in real estate and high technology
companies.
Harrell Hospitality manages full service hotels including the
Biltmore Hotel in the Silicon Valley of California and the Rancho
Santa Barbara Marriott.
For more information, please contact Paul Barham at 972-380-0273
(fax 972-380-4795)
