SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K/A
Amendment No. 1
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 25, 1999
Trans Global Services, Inc.
(Exact name of Registrant as Specified in its Charter)
Delaware 0-23382 62-1544008
(State or other jurisdiction (Commission (IRS Employer
of incorporation File No.) Identification No.)
1393 Veterans Memorial Highway, Hauppauge, New York 11788
(Address of Principal Executive Office)
Registrant's telephone number, including area code: (516) 724-0006
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Item 5. Other Events.
Pursuant to the previously reported February 25, 1999 agreement between
Consolidated Technology Group Ltd. ("Consolidated"), SIS Capital Corp. ("SISC"),
a wholly-owned subsidiary of Consolidated, and the Registrant, on May 3, 1999,
Consolidated, through SISC, transferred 1,150,000 shares of the Registrant's
common stock to the Registrant in consideration of the cancellation of shares of
Consolidated's Series G 2% Cumulative Redeemable Preferred Stock owned by the
Registrant, including accrued dividends, and certain other obligations due to
Trans Global. The transfer of the 1,150,000 shares to the Registrant reduced
Consolidated's holdings in the Registrant to 379,994 shares, or approximately
14.2% of its outstanding common stock. Prior to the transfer, Consolidated owned
40.1% of the Registrant's outstanding common stock.
On May 3, 1999, the Registrant received the resignation of Mr. Donald Chaifetz
as a director.
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SIGNATURE
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.
TRANS GLOBAL SERVICES, INC.
Date: May 4, 1999 Joseph G. Sicinski
President and CEO
