SECURITIES AND EXHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OF 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 3, 1999
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Wavetech International, Inc.
(Exact Name of Registrant as Specified in its Charter)
Nevada 001-15482 86-0916826
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
5210 E. Williams Circle, Suite 200 Tucson, Arizona 85711
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (520) 750-9093
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ITEM 5. OTHER EVENTS
On May 3, 1999, Wavetech International, Inc. (the "Company"),
terminated its Merger Agreement with DCI Telecommunications, Inc. ("DCI"),
effective immediately. A copy of the Company's press release announcing this
event is attached hereto as Exhibit 1.
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EXHIBIT 1
WAVETECH TERMINATES MERGER AGREEMENT WITH DCI;
TEMPORARY HALT IN WAVETECH TRADING
MAY 4, 1999
TUCSON, AZ, May 4/PR Newswire/ - Wavetech International, Inc. (Nasdaq: ITEL)
today announced that it will not be merging with DCI Telecommunications, Inc.
(OTC Bulletin Board: DCTC). Wavetech terminated the Merger Agreement with DCI
pursuant to its terms because Wavetech had determined that it was not reasonably
likely that the conditions to the merger would be satisfied prior to the
expiration of the Merger Agreement.
Trading in Wavetech's Common Stock on the Nasdaq SmallCap Market was temporarily
halted yesterday by The Nasdaq Stock Watch Department for news pending. In
addition, the SEC suspended trading in DCI's stock through May 14, 1999.
THIS PRESS RELEASE CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS MADE PURSUANT TO
THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. THIS INFORMATION MAY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM SUCH FORWARD-LOOKING STATEMENTS.
FACTORS THAT WOULD CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT
LIMITED TO THE UNCERTAINTY OF THE COMPANY'S ABILITY TO SATISFY THE CONDITIONS TO
THE CONTINUED LISTING OF ITS COMMON STOCK ON THE NASDAQ SMALLCAP MARKET, AND
OTHER FACTORS DETAILED BY WAVETECH IN ITS FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION.
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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 hereunto duly authorized.
WAVETECH INTERNATIONAL, INC.
By: /s/ Gerald I. Quinn
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Gerald I. Quinn
Chief Executive Officer
Date: May 11, 1999
