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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
(AMENDMENT NO. 7)
Electrosource, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
286150206
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(CUSIP Number)
Corporate Secretary, Electrosource, Inc., 2809 Interstate 35
South, San Marcos, Texas 78666 (512) 753-6559
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 30, 1999
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(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 [ ].
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AMENDMENT NO. 7
TO
SCHEDULE 13D
1. Names of Reporting Persons
KAMKORP LIMITED
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b) X
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3. SEC Use Only
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4. Source of Funds (See Instructions) WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) __________________
6. Citizenship or Place of Organization ENGLAND
7. Sole Voting Power 9,000,000
8. Shared Voting Power NONE
9. Sole Dispositive Power 9,000,000
10. Shared Dispositive Power NONE
11. Aggregate Amount Beneficially Owned by Each Reporting Person 9,000,000
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 66.2%
14. Type of Reporting Person (See Instructions) CO
1. Names of Reporting Persons
KAMAL SIDDIQI
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b) X
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3. SEC Use Only
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4. Source of Funds (See Instructions) WC (OF KAMKORP LIMITED)
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
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6. Citizenship or Place of Organization INDIAN
7. Sole Voting Power NONE
8. Shared Voting Power NONE
9. Sole Dispositive Power NONE
10. Shared Dispositive Power NONE
11. Aggregate Amount Beneficially Owned by Each Reporting Person 0
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) X
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13. Percent of Class Represented by Amount in Row (11) 0
14. Type of Reporting Person (See Instructions) IN
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AMENDMENT NO. 7
TO
SCHEDULE 13D
This Amendment No. 7 (this "Amendment") supplements the statement on
Schedule 13D filed with respect to an event occurring on June 2, 1998 and filed
by Kamkorp Limited ("Kamkorp"), Kamal Siddiqi, Clifford Graham Winckless and
Roger Geoffrey Musson on June 12, 1998 (the "Initial Filing") relating to the
common stock, par value $1.00 per share ("Common Stock") of Electrosource, Inc.,
a Delaware corporation ("Electrosource"). Capitalized terms used herein without
definition have the same meanings attributed to them in the Initial Filing.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Kamkorp acquired from the issuer 875,000 shares of Common Stock of
Electrosource for $875,000 (the "Reported Shares"). The source of funds is
working capital of the Kamkorp Limited consolidated group.
ITEM 4. PURPOSE OF TRANSACTION
(a) On June 30, 1999, Kamkorp purchased the Reported Shares in
response to notices transmitted to Kamkorp from Electrosource as contemplated by
the Stock Purchase Agreement. The acquisition of the Reported Shares took place
under the terms of the Stock Purchase Agreement and constituted all of the
remaining 875,000 shares that Kamkorp had the right to purchase under the Stock
Purchase Agreement after the purchases of Common Stock of Electrosource reported
in the Initial Filing and amendments filed prior to this Amendment. The purchase
of the Reported Shares is part of a series of contemplated transactions that,
have resulted in the acquisition of control (approximately 56.6% of issued and
outstanding Common Stock) of Electrosource by Kamkorp. As referenced in the
Initial Filing, Kamkorp also possesses a right to purchase an additional
3,000,000 shares of Electrosource Common Stock pursuant to the Option.
(e) The purchase of the Reported Shares are expected to have a
material effect on the capitalization of Electrosource. Kamkorp has no present
plan to seek a change in Electrosource's dividend policy.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(c) See Item 4.
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After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct. Kamkorp Limited and Kamal Siddiqi agree to the filing of this combined
report.
/s/ Kamal Siddiqi
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By: Kamal Siddiqi
Chairman, Kamkorp Limited
Date: July 27, 1999
/s/ Kamal Siddiqi
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By: Kamal Siddiqi
Date: July 27, 1999
/s/ Clifford Winckless
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By: Clifford Winckless
Date: July 27, 1999
/s/ Roger Musson
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By: Roger Musson
Date: July 27, 1999
Schedule 13D Amendment No. 7
