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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): July 17, 2000 (July 3, 2000)
CLARITI TELECOMMUNICATIONS INTERNATIONAL LTD.
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(Exact name of Registrant as specified in charter)
Delaware 33-90344 23-2498715
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1735 Market Street, Mellon Bank Center, Suite 1300
Philadelphia, Pennsylvania 19125
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(Address of principal executive offices) (Zip Code)
215-979-3600
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Effective as of 4:30 p.m. EDT on July 3, 2000, Clariti Telecommunications
International, Ltd. ("Clariti") implemented a one share for four shares reverse
stock split of its outstanding common stock. No fractional shares will be
issued and the number of shares to be issued upon conversion will be rounded up
to the nearest whole share. Clariti's common stock began trading on a post-
split basis at the opening of the stock market on July 5, 2000 on the OTC
Bulletin Board under the new symbol CRTM. The reverse split was approved by
Clariti's board of directors and a majority of its shareholders.
The principal reasons for the reverse stock split are to increase the
effective marketability of Clariti's common stock to institutional buyers and
to enhance the liquidity of the common stock so that Clariti can better access
capital markets.
Stockholders will be notified by Clariti's transfer agent and exchange
agent, American Stock Transfer & Trust Company, regarding the process for
exchanging stock certificates representing post-split shares. Following the
reverse split, transfers of certificates representing pre-split shares of
common stock will be honored but will only represent one-fourth of the number
of shares set forth on the certificate rounded up to the nearest whole share.
Warrants and options to purchase Clariti's common stock and other securities
convertible into common stock will be adjusted in accordance with their terms
to reflect the reverse stock split.
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Signature
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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.
CLARITI TELECOMMUNICATIONS
INTERNATIONAL, LTD.
(Registrant)
July 17, 2000
By: s/James M. Boyd, Jr.
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James M. Boyd, Jr.
Vice President of Finance
and Chief Accounting
Officer
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