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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) - March 11, 1999
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THE CRONOS GROUP
(Exact name of registrant as specified in its charter)
LUXEMBOURG 0-24464
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(State or other jurisdiction of (Commission File Number)
Incorporation)
16, Allee Marconi, Boite Postale 260,
L-2120 Luxembourg
(Address of principal executive offices)
352-453145
(Registrant's telephone number, including area code)
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NOT APPLICABLE
(Former name or address, if changed since last report)
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ITEM 5. Other Events
On March 11, 1999, The Cronos Group issued the press release which is
filed herewith as Exhibit 1.
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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, thereunto duly authorized.
THE CRONOS GROUP
Registrant
By /s/ DENNIS J. TIETZ
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Dennis J. Tietz
Chief Executive Officer
Date: March 12, 1999
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EXHIBIT INDEX
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1. Press Release dated March 11, 1999
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Exhibit 1
Company Press Release
The Cronos Group Announces New Reporting Standards and Common Stock To Be
Traded Under Symbol "CRNS" - Nasdaq: CRNS -
NEW YORK -- (BUSINESS WIRE) -- March 11, 1999 -- The Cronos Group today
announced that it is now complying with the reporting requirements applicable
generally to U.S. public companies.
As a "foreign private issuer," Cronos was not in the past subject to the same
reporting requirements that apply to U.S. public companies. Cronos expects to
file its Annual Report for the year ended December 31, 1998 on Form 10-K rather
than on Form 20-F and will be filing other periodic reports on Forms 10-Q and
8-K.
In addition, the common shares of The Cronos Group will be identified by the
new trading symbol of "CRNS" on the Nasdaq Stock Exchange, effective at the
opening of the market on Friday, March 12, 1999. The company's decision to
change its trading symbol reflects the conversion to reporting under
requirements applicable to U.S. public companies.
Cronos is one of the five largest lessors of intermodal containers, owning and
managing a fleet of over 360,000 TEU (twenty-foot equivalent units). The
diversified Cronos fleet of dry cargo, refrigerated and other specialized
containers, is leased to a customer base of approximately 475 ocean carriers
and transport operators around the world. With its business relationships
around the world, Cronos uses sophisticated information systems to service the
container lease market. Cronos' container fleet is well diversified
geographically.
Safe Harbor Statement
This release discusses certain forward-looking matters that involve risks and
uncertainties that could cause actual results to vary materially from
estimates. Risks and uncertainties include, among other things, changes in
international operations, exchange rate risks, changes in market conditions for
the company's container lease operations and the company's ability to provide
innovative and cost effective solutions.
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Contact:
The Cronos Group
Investor Relations
Elinor Wexler, 415/677-8990
[email protected]
http://www.cronos.com
