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 report: September 2, 1999
Lotus Pacific, Inc.
(Exact name of registrant as specified in its charter)
Delaware
State of Organization
000-24999
Commission File Number
52-1947160
Employer Identification Number
200 Centennial Avenue, Suite 201, Piscataway, New Jersey 08854
Address of Principal Executive Office
(732) 885-1750
Registrant's Telephone Number, Including Area Code
Item 5. OTHER EVENTS
On August 23, 1999, Lotus International Holdings Corp. ("LIH"), a major
shareholder of the Company, transferred 1,000,000 shares of the Company's
common stock to Luks Industrial Company Limited ("LIC"), a Hong Kong company,
in exchange for approximately 10% of the capital stock of LIC.
On September 1, 1999, TCL Industries Holdings (HK) Limited ("TCL"), a Hong
Kong company, acquired a total of 9,606,671 shares of the Company's common
stock, which constitutes 15% of the Company's common stock issued and
outstanding as of the date of the transaction.
On September 1, 1999, the Company and TCL Holdings (BVI) Limited
consummated the establishment of a joint venture, TCL International Inc. TCL
International Inc. is registered in the State of Delaware. The Company and TCL
Holdings (BVI) Limited each holds 50% of the newly established joint venture.
Luks Industrial Company Limited is a public company traded on the Hong Kong
Stock Exchange.
Both TCL Industries Holdings (H.K.) Limited and TCL Holdings (BVI) Limited
are subsidiaries of TCL Group, China's fifth largest electronics group with
revenues of RMB 9.8 billion (US$1.2 billion) in 1998.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements of business acquired.
N/A
(b) Pro forma financial information.
N/A
(c) Exhibits
N/A
Signature
Pursuant to the requirements of Section 12 of the Securities Exchange Act of
1934, the registrant had duly caused this report to be signed on its behalf by
the undersigned, thereto duly authorized.
LOTUS PACIFIC, INC.
Date: September 2, 1999
By: /s/ Jeremy Wang
----------------------------
Jeremy Wang, President
