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 (Date of earliest event reported): November 9, 1999
Electrosource, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-16323 74-2466304
(State or other jurisdiction (Commission File Number) (IRS Employer
incorporation) Identification No.)
2809 IH 35 South
San Marcos, Texas 78666
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (512)753-6500
Item 5. Other Events
On October 27, 1999, the Electrosource, Inc. (the
"Registrant") Board of Directors authorized the granting of an
option to purchase 3,000,000 shares of Common Stock of the
Company at a price of $1.00 per share. The options are
exercisable immediately and expire 2,000,000 shares in six
months, 500,000 shares in nine months, and 500,000 shares in
twelve months. The Registrant has filed a press release
under cover of this Current Report on Form 8-K pursuant to Rule 135c.
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.
ELECTROSOURCE, INC.
By: /s/ Donald C. Perriello
Donald C. Perriello
Vice President/Finance
and Treasurer
Date: November 9, 1999
EXHIBITS
Exhibit Page
Number
1 Press release relating to granting 4
of Option to Purchase Shares of
Common Stock
Electrosource, Inc.
2809 Interstate 35 South, San Marcos, Texas 78666-5930 USA
Tel: 512-753-6500 Fax: 512-353-3391
www.electrosource.com Manufacturers of the HORIZON C2M Battery
ELECTROSOURCE NEWS
For Immediate Release
ELECTROSOURCE, INC., GRANTS OPTIONS TO PURCHASE COMMON STOCK
Austin, Texas (November 3, 1999) - ELECTROSOURCE, INC.,
(NASDAQ: ELSI) announced today that it has granted options to
purchase up to 3,000,000 (three million) shares of its common
stock at a price of $1.00 per share to Kamkorp, Ltd.,
("Kamkorp"), its majority shareholder, a privately-held company
headquartered in the United Kingdom. The options expire as to
2,000,000 (two million) shares in six months, 500,000 (five
hundred thousand) shares in nine months, and 500,000 (five
hundred thousand) shares in twelve months.
The securities have not been registered under the Securities Act
of 1933, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements.
For further information, contact B. E. Jay at (512 ) 753 6500.
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SOURCE Electrosource, Inc.
