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SECURITIES AND EXCHANGE COMMISSION
Washington, .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): April 23, 1998
SITEL CORPORATION
(Exact name of registrant as specified in its charter)
Minnesota 1-12577 47-0684333
(State or jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
111 SOUTH CALVERT, SUITE 1910
BALTIMORE, MARYLAND 21202
(410) 659-5700
(Address, including zip code, and telephone number, including area code, of
registrant's principal executive offices)
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This 8-K consists of 3 pages.
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ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
In connection with its subsidiary's acquisition of all of the outstanding
shares of Telebusiness Holdings ("Telebusiness") on January 31, 1997, the
registrant agreed to issue up to a total of 34,199 shares to certain employees
who continued to be employed by Telebusiness for certain periods after the
closing. In satisfaction of this provision of the acquisition agreement, the
registrant issued on April 23, 1998 a total of 10,742 shares of its Common Stock
to five employees of Telebusiness and will issue up to the remaining 23,457
shares to up to seven additional employees of Telebusiness at various dates
through January 31, 1999 (collectively, "these shares"). These shares were (or
will be) issued in consideration of the acquisition of the shares of
Telebusiness and such employees continuing to be employed by Telebusiness for
certain periods after the closing. These shares were (or will be) issued
outside the United States in reliance on multiple exemptions from registration,
including without limitation Regulation S.
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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.
Date: May 4, 1998 SITEL Corporation
By: /s/Michael P. May
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Michael P. May, Chief Executive Officer
