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U.S. Securities and Exchange Commission
Washington, D. C. 20549
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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): September 9, 1999
LAIDLAW GLOBAL CORPORATION
(Exact Name of Registrant as specified in its charter)
Delaware 33-37203-D 84-1148210
(State or other jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification Number)
100 Park Avenue, New York, NY 10017
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code, (212) 376-8800
FI-TEK V, INC.
(Former name or former address, if changed since last report)
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Item 5. Other Events
On September 9, 1999, Laidlaw Global Corporation (the "Company") announced
that its Board of Directors approved a three-for-two stock split of its common
stock (the "Stock Split") in the form of a stock dividend. One (1) share of
Common Stock of the Company, par value $0.00001 per share, will be issued for
each two (2) outstanding shares of pre-split Common Stock. The stock dividend
will be payable on or around October 14, 1999 to stockholders of record as of
September 23, 1999 (the "Record Date"). In lieu of issuing fractional shares
resulting from the Stock Split, the Company will redeem all fractional shares
for cash. The Company will value each outstanding share of Common Stock held at
the Record Date of the Stock Split at a price per share equal to the mean
between the closing bid and asked price of the Common Stock on the trading day
immediately preceding the Record Date. The holders of the Common Stock prior to
the Stock Split will not have the right to offer the Company for cash redemption
any shares other than fractional shares resulting from the Stock Split. The
Stock Split will increase the number of shares outstanding from approximately
17.6 million to approximately 26.4 million.
Additionally, all Warrants issued by the Company are governed by provisions
that require that the terms of the Warrants be adjusted in respect of changes to
the Common Stock of the Company, such as the Stock Split. Accordingly, the
number of shares and the exercise price of the Warrants will be adjusted in
accordance with the Stock Split.
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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.
LAIDLAW GLOBAL CORPORATION
September 14, 1999 By: /s/ Roger Bendelac
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Roger Bendelac,
Executive Vice President
