FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For: April 03, 2000
March 27, 2000
March 20, 2000
March 13, 2000
March 06, 2000
NAM TAI ELECTRONICS, INC.
(Registrant's name in English)
Suite 4, 9/F, Tower 1
China Hong Kong City, 33 Canton Road
Tsim Sha Tsui, Kowloon
Hong Kong
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NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
CONTACT: WENDY WISEMAN
INVESTOR RELATIONS ASSOCIATE
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: [email protected]
WEB SITE: www.namtai.com
NAM TAI ELECTRONICS, INC. EXTENDS WARRANT EXPIRY DATE
VANCOUVER, CANADA April 3, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced
that its Board of Directors has authorized a two year extension of the
expiration date of its outstanding publicly traded warrants (the "Warrants").
Accordingly, the Company and its Warrant Agent have entered into an agreement to
amend the Warrant Agreement dated November 24, 1997 that governs the Warrants,
changing the expiration date of the Warrants from November 24, 2000 to November
24, 2002. Nam Tai currently has approximately 3,000,000 publicly traded Warrants
outstanding.
No other changes to the Warrants have been made. Consequently, as amended, each
Warrant is exercisable to purchase one Common Share of Nam Tai at a price of
$20.40 per share at any time until November 24, 2002. The Warrants are
redeemable by the Company at any time at $0.05 per Warrant if the average
closing sale price of the Common Shares for 20 consecutive trading days within
the 30-day period preceding the date the notice is given equals or exceeds
$25.50 per share. In the event that the Company exercises the right to redeem
the Warrants, a holder would be forced to either sell or exercise the Warrants
within 30 days of the notice of redemption, or accept the redemption price.
CANCELLATION OF SHARE REPURCHASE PROGRAM
Nam Tai today announced the termination of its share repurchase program. Since
the commencement of the repurchase program on January 13, 1998 the Company has
purchased 2,292,800 of its common shares at an average price of $13.72.
FILING OF 1999 ANNUAL REPORT ON FORM 20-F
The Company announced the electronic filing of its 1999 annual report on Form
20-F with the U.S. Securities and Exchange Commission ("SEC") in Electronic Data
Gathering and Retrieval ("EDGAR") format. The filing is available through the
Company's website at www.namtai.com or from the EDGAR Archives section of the
SEC's website at www.sec.gov. Alternatively, a paper copy of the document is
available from Nam Tai's investor relations representatives at 1-800-661-8831.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service
provider to some of the world's leading original equipment manufacturers. Nam
Tai manufactures telecommunication products, palm-sized PC's, personal digital
assistants, linguistic products, calculators, smart card readers and various
components including LCD modules for cellular phones and lithium ion
rechargeable battery packs which are used in cellular phones, laptop computers,
electronic toys and household appliances. It has also developed the ability to
integrate MP3 functionality into hand-held electronic products. The Company
utilises advanced production technologies such as chip on board ("COB"), chip on
glass ("COG"), surface mount technology ("SMT"), tape automated bonding ("TAB")
and outer lead bonding ("OLB") technologies and anisotropic conductive film
("ACF") heat seal technology. Further information is available from Nam Tai's
website at www.namtai.com.
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NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
CONTACT: WENDY WISEMAN
INVESTOR RELATIONS ASSOCIATE
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: [email protected]
WEB SITE: www.namtai.com
NAM TAI ELECTRONICS, INC. INVESTS IN INTERNET NETWORK
WWW.ECHOLAW.COM IN SHANGHAI, PRC
VANCOUVER, CANADA March 27, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) announced that
on March 22, 2000, Red Net Technology Co., Ltd. ("Red Net") and Namtai
Electronic (Shenzhen) Co., Ltd., Nam Tai's wholly owned China based
manufacturing subsidiary, entered a conditional contract of investment under
which Nam Tai will invest in Red Net to finance their expansion of
"www.echolaw.com" in Shanghai - the biggest city in the People's Republic of
China ("PRC"). The contract of investment is subject to final government
approval.
Red Net is a Silicon Valley style internet company in Shanghai and has operated
for more than one and a half years, backed up and supported by the Legal Affairs
Office of Shanghai Municipal People's Government and the Administrative Legal
Affairs Institute of Shanghai Municipality PRC Government and in the same
office.
Red Net aims to make www.echolaw.com the largest legal affairs website in China,
contributing to help build and strengthen the legal infrastructure and
institutions in China. www.echolaw.com is currently available in Chinese and
English, with a Japanese version now under development.
Nam Tai's investment holding represents an interest of just under 50% in Red
Net. Nam Tai will develop hardware (PDA) products in the future for this
business.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service
provider to some of the world's leading original equipment manufacturers. Nam
Tai manufactures telecommunication products, palm-sized PC's, personal digital
assistants, linguistic products, calculators, smart card readers and various
components including LCD modules for cellular phones and lithium ion
rechargeable battery packs which are used in cellular phones, laptop computers,
electronic toys and household appliances. It has also developed the ability to
integrate MP3 functionality into hand-held electronic products. The Company
utilises advanced production technologies such as chip on board ("COB"), chip on
glass ("COG"), surface mount technology ("SMT"), tape automated bonding ("TAB")
and outer lead bonding ("OLB") technologies and anisotropic conductive film
("ACF") heat seal technology. Further information is available from Nam Tai's
website at www.namtai.com.
<PAGE>
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
CONTACT: WENDY WISEMAN
INVESTOR RELATIONS ASSOCIATE
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: [email protected]
WEB SITE: www.namtai.com
NAM TAI ELECTRONICS, INC. ANNOUNCES NEW TELECOM BUSINESS DEVELOPMENTS
VANCOUVER, CANADA March 20, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ/NM Symbol: NTAI and NTAIW) today announced recent new
business developments for its subsidiary Namtai Telecom (Hong Kong) Company Ltd.
TELECOMMUNICATION BUSINESS UPDATE
1. CT1/CT1+ CORDLESS PHONES FOR EUROPE
The Company has successfully finalized the development of NTP 2000 (a new 900
MHz cordless phone model) and obtained type approval in Germany. Orders for this
new model were received from Metro MGE Einkauf GmbH ("Metro") for the German
market. Metro is Europe's largest telephone distribution company. Orders were
also received from Master S.P.A. of Italy; however, type approval for Italy is
still in process.
The Company also confirmed that it continues decreasing its inventory of
finished goods for Daewoo Electronics Deutschland GmbH, and the outstanding
balance will be shipped out within two months to totally resolve the inventory
build-up of these products.
2. FAMILY RADIO SYSTEM
The Company has received initial orders from Korean company Headline Electronics
Co., Ltd. for 177,000 Family Radio System ("FRS") units to be sold in the North
American market to RadioShack, a Division of Tandy Corporation and Midland
Consumer Radio Ltd. One million units for Radioshack and 600,000 units for
Midland order forecasts for one year have been received.
3. DIGITALLY ENHANCED CORDLESS TELEPHONES ("DECT")
The Company has finalized cosmetic designs for two DECT models and orders have
been received from Master S.P.A. in Italy.
DECT LICENSE FROM PHILIPS
The Company paid a license fee to Philips Electronic Building Elements
Industries (Taiwan) Ltd. ("Philips") and obtained the DECT license. The license
is used by Nam Tai to develop its own DECT products using Time Division Multiple
Access ("TDMA") technology. Philips provided Nam Tai with the core software for
DECT allowing Nam Tai to develop its own DECT with its own man-machine
interface. Philips provided Nam Tai with the software package and demonstration
boards which allow Nam Tai to develop DECT.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service
provider to some of the world's leading original equipment manufacturers. Nam
Tai manufactures telecommunication products, palm-sized PC's, personal digital
assistants, linguistic products, calculators, smart card readers and various
components including LCD modules for cellular phones and lithium ion
rechargeable battery packs which are used in cellular phones, laptop computers,
electronic toys and household appliances. It has also developed the ability to
integrate MP3 functionality into hand-held electronic products. The Company
utilises advanced production technologies such as chip on board ("COB"), chip on
glass ("COG"), surface mount technology ("SMT"), tape automated bonding ("TAB")
and outer lead bonding ("OLB") technologies and anisotropic conductive film
("ACF") heat seal technology. Further information is available from Nam Tai's
web site at www.namtai.com.
<PAGE>
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
CONTACT: WENDY WISEMAN
INVESTOR RELATIONS ASSOCIATE
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: [email protected]
WEB SITE: www.namtai.com
NAM TAI ELECTRONICS, INC. REDUCES INVESTMENT HOLDINGS IN GSL
VANCOUVER,CANADA March 13, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ/NM Symbol: NTAI and NTAIW) today announced the reduction of
its ownership position in Group Sense (International) Ltd. ("Group Sense"), a
Hong Kong publicly listed company (Hang Seng company # 601) from 20% to 10% with
the liquidation of 100 million shares by private placement. Nam Tai invested
$16.5 million in May 1998 acquiring 205 million Group Sense common shares.
The Company's decision was made with the mutual understanding of, and in
co-operation with, Group Sense's management to foster continued growth in Group
Sense. Nam Tai also benefits, realising a profit from its investment.
Nam Tai Electronics, Inc. is a consumer electronics design and manufacturing
service provider to some of the world's leading original equipment
manufacturers. Nam Tai manufactures telecommunication products, palm-sized PC's,
personal digital assistants, linguistic products, calculators, smart card
readers and various components including LCD modules and, in the near future,
rechargeable lithium ion battery packs which are used in cellular phones, laptop
computers, electronic toys and household appliances. It has also developed the
ability to integrate MP3 functionality into hand-held electronic products. The
Company utilizes advanced production technologies such as chip on board ("COB"),
chip on glass ("COG"), surface mount technology ("SMT"), tape automated bonding
("TAB") and outer lead bonding ("OLB") technologies and anisotropic conductive
film ("ACF") heat seal technology. Further information is available from Nam
Tai's web site at www.namtai.com.
<PAGE>
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
CONTACT: WENDY WISEMAN
INVESTOR RELATIONS ASSOCIATE
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: [email protected]
WEB SITE: www.namtai.com
NAM TAI ELECTRONICS, INC. ANNOUNCES ADVANCES IN MP3 AND G.729 TECHNOLOGIES
VANCOUVER, CANADA March 6, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ/NM Symbol: NTAI and NTAIW) today announced developments of
advanced technologies from two of its subsidiary companies, Shenzhen Namtek Co.
Ltd. ("Namtek") and Zastron Plastic & Metal Products (Shenzhen) Ltd.
("Zastron").
MP3 DECODER
Namtek announced the successful development of MP3 decoder. This follows one
year of in-house research and development activities during which it
successfully developed a middleware for MP3 decoder. The completed demo board
will help Nam Tai demonstrate to its customers its ability to integrate MP3
technology into a variety of hand held consumer electronic devices.
MP3 is music compression technology that allows users to download CD-quality
music from the internet, and is changing the way music is sold and delivered to
customers. Eventually, Nam Tai would like to integrate MP3 functionality into a
variety of hand-held electronic products for its customers including PDA's and
Palm-sized PC's.
G.729 DIGITAL AUDIO COMPRESSION/DECOMPRESSION TECHNOLOGY
Namtek implemented the compression (encoder) and decompression (decoder)
technology specified in the G.729A, on PC and NEC 32bit RISC CPU. Nam Tai
foresees future requirements on this technology for speaking dictionary type
products.
The G.729 is a digital audio compression/decompression technology for
transmission and storage. G.729, also referred to as CS-ACELP, was adopted by
the ITU as a standard in 1995.
As G.729 can compress speech to a relatively low bit rate (8kbps) with similar
quality of 32kbps ADPCM, with moderate delay and processing requirements, G.729
has become a popular choice in many applications that embraced ADPCM in the
past. Applications such as teleconferencing, visual telephony, voice over
Internet, cellular phones and other wireless applications, where quality, delay,
and bandwidth are important, will benefit immediately from this technology.
G.729 is also used for speech recording applications such as digital speech
recorder and telephone answering machine.
G.729 is now more than ever on its way to become the worldwide standard for the
telephone industry. The inter-operability has the advantage of eliminating the
need for transcoding. The signal quality is thus preserved and maximized. It is
foreseen that soon all multimedia systems will be made compatible with G.729.
ELECTRO LUMINESCENT PANELS, TOUCH PANELS, AND FLEXIBLE PRINTED CIRCUITS
Zastron announced the successful development of three new technologies. First is
Electro Luminescent (EL) Panels used as LCD back-lighting for LCD modules,
notebook computers, games, electronic dictionaries, LCD watches, and many other
uses. Second, it has successfully developed a touch panel, which can be
incorporated into PDA products, home appliances, and other products. Third is
the development of double-edged flexible printed circuits: new precise wire
products. These advanced technologies were developed as Zastron received
requests from its customers to increase its emphasis on higher technology
products.
Zastron reports that its customer orders continue to increase, including orders
for its newly developed technologies. Located on the same campus as Nam Tai's
main factory, Zastron is principally engaged in silk screening metal and PVC
products, many of which are used by the Company's principal manufacturing
subsidiary. Zastron also produces products for a respected list of unrelated
companies including General Electric International, Inc. and Shunde Whirlpool
Electrical Appliance Company Limited of China.
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Nam Tai Electronics, Inc. is a consumer electronics design and manufacturing
service provider to some of the world's leading original equipment
manufacturers. Nam Tai manufactures telecommunication products, palm-sized PC's,
personal digital assistants, linguistic products, calculators, smart card
readers and various components including LCD modules and, in the near future,
rechargeable lithium ion battery packs which are used in cellular phones, laptop
computers, electronic toys and household appliances. The Company utilizes
advanced production technologies such as chip on board ("COB"), chip on glass
("COG"), surface mount technology ("SMT"), tape automated bonding ("TAB") and
outer lead bonding ("OLB") technologies and anisotropic conductive film ("ACF")
heat seal technology. Further information is available from Nam Tai's web site
at www.namtai.com.
Except for the historical information contained herein, matters discussed in
this press release are forward-looking statements. For example, the Company's
expectations for the new technology is uncertain and dependant upon many factors
including its ability to successfully commercialize its research and development
work in a timely manner and other new competing technology developments. Other
factors that might cause differences in this and the other forward looking
statements, include, but are not limited to, those discussed in the Company's
reports filed with the Securities and Exchange Commission from time to time,
such as the factors set forth in Item 1 "Description of Business - Risk Factors"
in the Company's Annual Report on Form 20-F for the years ended December 31,
1998.
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The Registrant hereby incorporates this Report on Form 6-K into its Registration
Statement on Form F-3 (Registration No. 333-36135).
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 thereunto duly authorized.
For and on behalf of
Nam Tai Electronics, Inc.
/s/ TADAO MURAKAMI
------------------------
Tadao Murakami, Chairman
Date: April 5, 2000
