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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): August 3, 2000
LITTLE SWITZERLAND, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-19369 66-0476514
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
162-B Crown Bay Cruise Ship Port, St. Thomas U.S.V.I. 60802
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(Address and telephone number of principal executive offices)
Registrant's telephone number, including area code: (340) 776-2010
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ITEM 5. OTHER EVENTS.
On August 3, 2000, the Registrant announced that it signed a letter of
intent with Almod Diamonds Limited ("Almod"), that would result in the
Registrant receiving an aggregate of $14.0 million through a combination of real
estate transactions and the issuance of shares of common stock to Almod.
The initial real estate transaction, a sale and leaseback of the
Registrant's Philipsburg, St. Maarten location, was completed on June 28, 2000
for proceeds of $4.5 million. The second real estate transaction, which involves
the restructuring of certain non-core operations of the Registrant, is expected
to close shortly and the Registrant anticipates receiving aggregate net proceeds
of $2.6 million (of which $2.0 million has been received to date).
On December 21, 2000, the Registrant announced that it has terminated
further discussions with Almod relating to the proposed issuance of shares of
common stock because the parties were unable to reach agreement on certain
material terms, including terms relating to corporate control.
ITEM 7. EXHIBITS.
Press release, dated December 21, 2000.
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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.
LITTLE SWITZERLAND, INC.
By: /s/ Patrick J. Hopper
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Patrick J. Hopper
Chief Financial Officer
Date: December 21, 2000
