UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Bright, Edward D.
c/o Trans Global Services Inc.
1393 Veterans Memorial Highway
Hauppauge, New York 11788
2. Issuer Name and Ticker or Trading Symbol
Trans Global Sevices Inc.
TGSI
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 1998
5. If Amendment, Date of Original (Month/Year)
February 1999
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman of the Board
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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Non-Qualified Stock Opti|$1.25(1)|06/98|A |20,000 |A |12/98|06/03|Common Stock|20,000 |(2) |20,000 |D | |
on | | | | | | | | | | | | | |
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Explanation of Responses:
(1) The exercise price of these options were originally $4.00 per share. The
Issuer repriced the exercise price of
the options to $1.25 on November 23,
1998.
(2) These options are granted pursuant to the Company's 1998 Long-Term
Incentive Plan, a 16b-3 plan, and are
exercisable in
installments.
SIGNATURE OF REPORTING PERSON
/s/ Edward D. Bright
DATE
April 30, 1999
