SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. )*
Laidlaw Global Corporation
--------------------------------------------------------------------------------
Name of Issuer)
Common Stock, par value $0.00001
--------------------------------------------------------------------------------
(Title of Class of Securities)
507306 10 8
--------------------------------------------------------------------------------
(CUSIP Number)
Pacific USA Holdings Corp.
Cathryn L. Porter
3200 Southwest Freeway, Suite 1220
Houston, TX 77037
(713) 871-1516
--------------------------------------------------------------------------------
Address and Telephone Number of Person Authorized to Receive
Notice and Communications)
May 27, 1999
--------------------------------------------------------------------------------
(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(e), 13d-1(f) or 13d-1(g), check the following box
|_|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
====================== ==================
CUSIP NO. 507306 10 8 Page 2 of 14 Pages
====================== ==================
1 Name of Reporting Persons
S.S. or I.R.S. Identification No.
of Above Person
PUSA Investment Company
IRS Identification No. 79-2255876
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds
WC
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization
Nevada
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 8,391,983
Person With _________________________________________________________________
9 Sole Dispositive Power
0
_________________________________________________________________
10 Shared Dispositive Power
8,391,983
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
8,391,983
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11)
31.13%
________________________________________________________________________________
14 Type of Reporting Person
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7 (INCLUDING EXHIBITS)
OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 507306 10 8 13D
1 Name of Reporting Persons
S.S. or I.R.S. Identification No.
of Above Person
Pacific USA Holdings Corp.
IRS Identification No. 75-2255876
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds
WC
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 3(E)
________________________________________________________________________________
6 Citizenship or Place of Organization
Texas
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 8,391,983
Person With _________________________________________________________________
9 Sole Dispositive Power
0
_________________________________________________________________
10 Shared Dispositive Power
8,391,983
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
8,391,983
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented
Amount in Row (11)
31.13%
________________________________________________________________________________
14 Type of Reporting Person
CO
________________________________________________________________________________
<PAGE>
CUSIP No. 507306 10 8 13D
1 Name of Reporting Persons
S.S. or I.R.S. Identification No.
of Above Person
Pacific Electric Wire & Cable Co., Ltd.
IRS Identification No. -- N/A -- Foreign Corporation
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds
WC
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization
Taiwan, Republic of China
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 8,391,983
Person With _________________________________________________________________
9 Sole Dispositive Power
0
_________________________________________________________________
10 Shared Dispositive Power
8,391,983
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
8,391,983
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented
Amount in Row (11)
31.13%
________________________________________________________________________________
14 Type of Reporting Person
CO
________________________________________________________________________________
<PAGE>
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this statement relates is the
common stock, $0.00001 par value per share (the "Common Stock"), of Laidlaw
Global Corporation, a Delaware corporation (the "Issuer"). The address of the
Issuer is 100 Park Avenue, New York, NY 10017.
ITEM 2. IDENTITY AND BACKGROUND.
(a) Name: This statement is being filed by PUSA Investment Company, a Nevada
corporation ("PUSA"), Pacific Electric USA Holdings Corp., a Texas corporation
("Pacific"), and Pacific Wire & Cable Co., Ltd., a Taiwanese corporation
("Pacific Electric"). PUSA is a wholly owned subsidiary of Pacific. Pacific is a
wholly owned subsidiary of Pacific Electric. The executive officers and
directors of PUSA, Pacific and Pacific Electric (hereinafter collectively
referred to as "Reporting Person") are set forth in Item 2(c) of this Statement.
The filing of this Statement shall not be construed as an admission that the
Reporting Person, or any executive officer or director is, for the purposes of
Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), the beneficial owner of any securities covered by this
Statement or that this Statement is required to be filed by such persons.
(b) Business Address: The principal business address of PUSA and Pacific is 2740
North Dallas Parkway, Suite 200, Plano, Texas 75093. The principal business
address of Pacific Electric is 4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China. The business address of Reporting Person's
respective executive officers and directors are set forth in Item 2(c).
(c) Present Principal Occupation or Employment: PUSA and Pacific are diversified
holding companies engaged in the financial services, real estate and technology
industries. Pacific Electric is a general business conglomerate founded on the
electric cable and wire industry, engaged in manufacturing, telecommunications
and technology. The present principal occupation or employment of the respective
executive officers and directors of the Reporting Person and the name and
address of any corporation or other organizations in which such employment is
conducted is as follows:
Board of Directors of PUSA
<TABLE>
<CAPTION>
------------------ ------------------------------------------------ ----------------------------- --------------------
Name Present Principal Business Address Principal Occupation Citizenship
------------------ ------------------------------------------------ ----------------------------- --------------------
<S> <C> <C> <C>
Larry D. Horner c/o Pacific USA Holdings Corp. Chairman of the Board of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-tsun c/o Pacific Electric Wire & Cable Co., Ltd. President of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Bill C. Bradley c/o Pacific USA Holdings Corp. Chief Executive Officer of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Yu-jeh c/o Pacific Electric Wire & Cable Co., Ltd. Chairman of the Board of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Hu Hung-chiu c/o Pacific Electric Wire & Cable Co., Ltd. Vice-Chairman of the Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Board of Pacific Resources
Taipei, Taiwan, Republic of China Corporation
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Pon-yean c/o Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Michael K. McCraw c/o Pacific USA Holdings Corp. Chief Financial Officer of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
<CAPTION>
Board of Directors of Pacific
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Yu-jeh Pacific Electric Wire & Cable Co., Ltd. Chairman of the Board of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-tsun Pacific Electric Wire & Cable Co., Ltd. President of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Pon-yean Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Ching-yun c/o Pacific USA Holdings Corp. Vice President of Pacific Taiwan, ROC
2740 N. Dallas Parkway, Suite 200 Electric
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Hu Hung-chiu c/o Pacific Electric Wire & Cable Co., Ltd. Vice-Chairman of the Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Board of Pacific Resources
Taipei, Taiwan, Republic of China Corporation
------------------ ------------------------------------------------ ----------------------------- --------------------
Larry D. Horner c/o Pacific USA Holdings Corp. Chairman of the Board of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Bill C. Bradley c/o Pacific USA Holdings Corp. Chief Executive Officer of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
<CAPTION>
Board of Directors of Pacific Electric
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Yu-jeh c/o Pacific USA Holdings Corp. Chairman of the Board of Taiwan, ROC
2740 N. Dallas Parkway, Suite 200 Pacific Electric
Plano, Texas 75093
----------------- ------------------------------------------------ ----------------------------- --------------------
Lee Yu-tien Pacific Electric Wire & Cable Co., Ltd. Vice-Chairman of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
----------------- ------------------------------------------------ ----------------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Chen Shu-chuan Pacific Electric Wire & Cable Co., Ltd. Executive Director of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Cheng I-chou Pacific Electric Wire & Cable Co., Ltd. Executive Director of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Chiao Ting-piao Pacific Electric Wire & Cable Co., Ltd. Executive Director of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-tsun Pacific Electric Wire & Cable Co., Ltd. Executive Director and Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, President of Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Chao-chun Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Pon-yean Pacific Electric Wire & Cable Co., Ltd. Director and Vice President Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, of Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Liu Wei-kang Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Ching-yun c/o Pacific USA Holdings Corp. Executive and Vice Taiwan, ROC
2740 N. Dallas Parkway, Suite 200 President of Pacific Electric
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Ta-jen Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Chiao Yu-chi Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-chi Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Ta-cheng Pacific Electric Wire & Cable Co., Ltd. Director and Vice President Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, of Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Cheng Chao-chun Pacific Electric Wire & Cable Co., Ltd. Director and Vice President Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, of Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-heng Pacific Electric Wire & Cable Co., Ltd. Director and Vice President Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, of Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Yuan Pei-yu Pacific Electric Wire & Cable Co., Ltd. Executive Director and Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Vice President of Pacific
Taipei, Taiwan, Republic of China Electric
------------------ ------------------------------------------------ ----------------------------- --------------------
Satoshi Otohata c/o Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Japan
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Kuo Chih-wei United Electronics Industry Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Chang Min-chiang c/o Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tony Yuan c/o Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Hsiu-chun c/o Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Wang Wen- c/o Pacific Electric Wire & Cable Co., Ltd. Director of Pacific Electric Taiwan, ROC
chuan 4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
<CAPTION>
Executive Officers of Pacific
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Larry D. Horner c/o Pacific USA Holdings Corp. Chairman of the Board of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-tsun c/o Pacific Electric Wire & Cable Co., Ltd. President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Bill C. Bradley c/o Pacific USA Holdings Corp. Chief Executive Officer of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Michael K. McCraw c/o Pacific USA Holdings Corp. Chief Financial Officer of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Cathryn L. Porter c/o Pacific USA Holdings Corp. General Counsel and United States
2740 N. Dallas Parkway, Suite 200 Secretary of Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Kristie A. Lipes c/o Pacific USA Holdings Corp. Chief Administrative United States
2740 N. Dallas Parkway, Suite 200 Officer of Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Joseph A. Cutrona c/o Pacific USA Holdings Corp. Executive Vice President of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
John Archer c/o Pacific USA Holdings Corp. Chief Accounting Officer United States
2740 N. Dallas Parkway, Suite 200 and Treasurer of Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Ching-yun c/o Pacific USA Holdings Corp. Vice President of Pacific United States
2740 N. Dallas Parkway, Suite 200
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Herman Lehmann c/o Pacific USA Holdings Corp. Controller of Pacific United States
2740 N. Dallas Parkway, Suite 200
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
John Sloan c/o Pacific USA Holdings Corp. Executive Vice President of United States
2740 N. Dallas Parkway, Suite 200 Pacific
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
<CAPTION>
Executive Officers of PUSA
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Larry D. Horner c/o Pacific USA Holdings Corp. Chief Executive Officer, United States
2740 N. Dallas Parkway, Suite 200 President and Chairman of
Plano, Texas 75093 the Board of PUSA
------------------ ------------------------------------------------ ----------------------------- --------------------
Michael K. McCraw c/o Pacific USA Holdings Corp. Treasurer of PUSA United States
2740 N. Dallas Parkway, Suite 200
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
<CAPTION>
Executive Officers of Pacific Electric
<S> <C> <C> <C>
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Yu-jeh c/o Pacific Electric Wire & Cable Co., Ltd. Chairman of the Board of Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Pacific Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-tsun c/o Pacific Electric Wire & Cable Co., Ltd. President of Pacific Electric Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4,
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Sun Tao-heng c/o Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Pon-yean c/o Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Lee Ta-cheng c/o Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Cheng Chao-chun c/o Pacific Electric Wire & Cable Co., Ltd. Vice President of Pacific Taiwan, ROC
4th Floor, 285 Chung Hsiao East Road, Section 4, Electric
Taipei, Taiwan, Republic of China
------------------ ------------------------------------------------ ----------------------------- --------------------
Tung Ching-yun c/o Pacific USA Holdings Corp. Vice President of Pacific Taiwan, ROC
2740 N. Dallas Parkway, Suite 200 Electric
Plano, Texas 75093
------------------ ------------------------------------------------ ----------------------------- --------------------
</TABLE>
(d) Neither Reporting Person nor, to the knowledge of Reporting Person, any of
its executive officers or directors has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) during the last five
years.
(e) Neither Reporting Person nor, to the knowledge of Reporting Person, any of
its executive officers or directors has been a party to a civil proceeding of a
judicial or administrative body of
<PAGE>
competent jurisdiction during the last five years as a result of which any such
person was or is subject to a judgement, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
(f) Citizenship: PUSA is a Nevada corporation. Pacific is a Texas corporation.
Pacific Electric is a Taiwanese corporation.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
PUSA received 8,191,983 shares of Common Stock in exchange for its shares
of common stock of Laidlaw Holdings, Inc. ("Laidlaw Holdings"), which was
acquired by the Issuer pursuant to the Plan and Agreement of Reorganization
described and defined in Item 4.
PUSA received an additional 200,000 shares of Common Stock and HK$ 4
million in exchange for all the assets of its subsidiary Laidlaw Pacific (Asia)
Ltd. ("Laidlaw Pacific") pursuant to the Amended Exchange Agreement described
and defined in Item 4.
ITEM 4. PURPOSE OF TRANSACTION.
(a) - (j) The purpose of the issuance of the Common Stock was to facilitate
the transactions contemplated by the Reorganization Agreement and the Amended
Exchange Agreement, as described below:
On June 8, 1999, the Issuer, formerly known as Fi-Tek V, Inc. acquired
approximately 99% of the issued and outstanding shares of Laidlaw Holdings
pursuant to a Plan and Agreement of Reorganization among Laidlaw Holdings,
Fi-Tek V, Inc., Westminster Securities Corporation ("Westminster") and the
principal stockholders of such companies, dated May 27, 1999 (the
"Reorganization Agreement"). The transactions contemplated by the Reorganization
Agreement were intended to be a reorganization of the corporate parties under
either or both of Sections 351 and 368(a)(1)(B) of the Internal Revenue Code of
1986, as amended. As a result of such transactions, on June 8, 1999, the Issuer
issued 13,109,137 shares of its common stock to stockholders of Laidlaw
Holdings. The Issuer caused a 1-for-32.4778 reverse split of its common stock
and thereby reduced its issued and outstanding shares of common stock to
1,500,000 shares. Simultaneous with closing, the Issuer changed its name from
Fi-Tek V, Inc. to Laidlaw Global Corporation. As a condition of closing, the
officers and directors of Laidlaw Holdings, including certain executive officers
of PUSA, were elected to the Board of Directors of the Issuer.
Also pursuant to the Reorganization Agreement, on July 1, 1999, the Issuer
acquired substantially all of the issued and outstanding common stock of
Westminster for 4,500,000 shares of common stock. Westminster is a professional
investment services corporation which is a member of the New York Stock
Exchange. Additionally, the Issuer assumed the obligations of options granted to
certain employees of Westminster and therefore granted options to purchase
90,000 shares of its common stock at a price per share of $0.83. As a condition
of closing, Westminster agreed to have capital, as defined under Rule 15c3-1 of
the Exchange Act, of at least $600,000 at closing. Such capital was provided in
the form of subordinated loans advanced by three stockholders of Westminster who
retained nominal shareholdings in Westminster for purposes of making such loans
in compliance with applicable SEC and NYSE rules. As a condition of closing, the
President and Director of Westminster was elected to the Board of Directors of
the Issuer.
<PAGE>
On May 20, 1999, the Issuer entered into an agreement with Pacific to
acquire its subsidiary Laidlaw Pacific, a Hong Kong based investment advisor. On
March 29, 2000, the Issuer, PUSA and its wholly owned subsidiary Laidlaw Pacific
Financial Services Ltd. completed an amended and restated agreement to acquire
Laidlaw Pacific (the "Amended Exchange Agreement"). The purchase price was
200,000 shares of common stock of the Issuer and HK$ 4 million. Additionally,
Laidlaw Pacific agreed to pay a dividend to Laidlaw Pacific Financial Services
Ltd. equal to HK$ 3 million. Further it consented to the Issuer receiving a
dividend equal to HK$ 4 million, should it elect to withdraw such funds from
Laidlaw Pacific. PUSA represented to the Issuer that, at the time of closing,
and prior to any dividend distribution, Laidlaw Pacific would have cash in the
amount of HK$ 11 million, all licenses to engage in the investment banking
business in Hong Kong, and no liabilities. Laidlaw Pacific is a registered
Dealer and Investment Advisor with the Hong Kong Securities and Futures
Commission. Its principal activities are corporate financial advisory services.
Pursuant to the Reorganization Agreement and the Amended Exchange
Agreement, PUSA received 8,191,383 shares of Common Stock and 200,000 shares of
Common Stock, respectively. The purpose in acquiring such shares was for
investment. PUSA intends to continue to evaluate the Issuer and its business
prospects and to take such actions as it deems necessary and appropriate to
maximize the economic value of its investment in securities of the Issuer,
including further acquisitions and/or dispositions of shares of common stock.
Except as may be set forth in this Schedule 13D, neither Reporting Person
nor, to the best of its knowledge, any executive officer or director of
Reporting Person, has any plans or proposals which relate to or would result in:
(a) the acquisition by any person of additional securities of the Issuer or the
disposition of securities of the Issuer; (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the
Issuer; (c) a sale or transfer of a material amount of assets of the Issuer; (d)
any change in the present board of directors or management of the Issuer,
including any plans or proposals to change the number or terms of directors or
to fill any existing vacancies on the board; (e) any material change in the
present capitalization or dividend policy of the Issuer; (f) any other material
change in the Issuer's business or corporate structure; (g) change in the
Issuer's charter, bylaws or instruments corresponding thereto or other actions
which may impede the acquisition of control of the Issuer by any person; (h)
causing a class of securities of the Issuer to be delisted from a national
securities exchange or cease to be authorized to be quoted in an interdealer
quotation system of a registered national securities association; (i) a class of
equity securities of the Issuer to become eligible for termination of
registration pursuant to Section 12(g)(4) of the Exchange Act; or (j) any action
similar to any of those enumerated above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Reporting Person beneficially owns a total of 8,391,983 shares of Common
Stock as a result of the Reorganization Agreement and the Amended Exchange
Agreement. This represents 31.13% of the issued and outstanding capital stock of
the Issuer, based on 26,960,430 shares of Common Stock issued and outstanding.
(b) Reporting Person has full voting power to vote or direct the vote and shared
power to dispose or direct the disposition of 8,391,983 shares of Common Stock.
(c) Except as described herein, neither Reporting Person nor, to the knowledge
of Reporting Person, any of its executive officers or directors has effected any
transactions in the Common Stock during the past 60 days.
<PAGE>
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE
ISSUER.
The information set forth, or incorporated by reference, in Item 4
regarding the Reorganization Agreement and the Amended Exchange Agreement is
hereby incorporated by reference. Except as may be set forth above, to the best
knowledge of Reporting Person, there are no other contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 and between such persons and any person with respect to any securities of
the Issuer, including, but not limited to, transfer or voting of any of the
securities, finder's fees, joint ventures, loan or option arrangements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 10.1: Plan and Agreement of Reorganization, dated May 27, 1999*
Exhibit 10.2: Exchange Agreement, dated May 20, 1999**
Exhibit 10.3: Amended Exchange Agreement, dated March 29, 2000**
Exhibit 99.1 Agreement of Joint Filing
----------------------------------
* Such document is hereby incorporated herein by reference to the Issuer's
Current Report on Form 8-K filed June 8, 1999.
** Such document is hereby incorporated herein by reference to the Issuer's
Annual Report on Form 10-KSB filed April 17, 2000.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of each of
the undersigned, each such person certifies that the information set forth in
this statement is true, complete and correct.
PUSA INVESTMENT COMPANY
Date: May 31, 2000 By: /s/ Larry D. Horner
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Name: Larry D. Horner
Title: Chief Executive Officer
PACIFIC USA HOLDINGS CORP.
Date: May 31, 2000 By: /s/ Bill C. Bradley
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Name: Bill C. Bradley
Title: Chief Executive Officer
PACIFIC ELECTRIC WIRE & CABLE CO., LTD.
Date: May 31, 2000 By: /s/ Tung Ching-yun
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Name: Tung Ching-yun
Title: Vice President
