-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GqHolp+jQZoNmsh9NDeq3ALaaWZCU1A7bn/tj4ANqOty7/fqgETtF7wf4vfKO9z8 8WZfAyP7iS0L6UqNx9BjLg== 0000016859-02-000020.txt : 20021105 0000016859-02-000020.hdr.sgml : 20021105 20021105154853 ACCESSION NUMBER: 0000016859-02-000020 CONFORMED SUBMISSION TYPE: 6-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021031 FILED AS OF DATE: 20021105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MFC BANCORP LTD CENTRAL INDEX KEY: 0000016859 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 131818111 STATE OF INCORPORATION: B0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-04192 FILM NUMBER: 02809883 BUSINESS ADDRESS: STREET 1: FLOOR 21, MILLENIUM TOWER STREET 2: HANDELSKAI 94-96 CITY: A-1200 VIENNA STATE: C4 BUSINESS PHONE: 43 1 240 25 300 MAIL ADDRESS: STREET 1: FLOOR 21, MILLENIUM TOWER STREET 2: HANDELSKAI 94-96 CITY: A-1200 VIENNA STATE: C4 FORMER COMPANY: FORMER CONFORMED NAME: NALCAP HOLDINGS INC DATE OF NAME CHANGE: 19950725 FORMER COMPANY: FORMER CONFORMED NAME: ARBATAX INTERNATIONAL INC DATE OF NAME CHANGE: 19960603 FORMER COMPANY: FORMER CONFORMED NAME: JAVELIN INTERNATIONAL LTD DATE OF NAME CHANGE: 19871118 6-K/A 1 doc1.txt ===================================================================== U.S. SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K/A REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the Month of OCTOBER, 2002 Commission File Number: 1-4192 MFC BANCORP LTD. (Exact Name of Registrant as specified in its charter) FLOOR 21, MILLENNIUM TOWER HANDELSKAI 94-96, A-1200 VIENNA, AUSTRIA (Address of principal offices) (Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F). [X] Form 20-F [ ] Form 40-F Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _____ Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _____ Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No X ----- ----- If "Yes" is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-_________________. ===================================================================== NEWS RELEASE FOR RELEASE OCTOBER 30, 2002 AT 9:30AM EST FORMATION OF SHAREHOLDER ACTION GROUP TO RECOVER SHAREHOLDER VALUE AT PROPRIETARY INDUSTRIES INC. NEW YORK CITY, (October 30, 2002) - - - MFC Bancorp Ltd. (the "Corporation") today announced that it has formed the 'PPI Shareholder Action Group', with the object of recovering shareholder value at the disgraced Proprietary Industries Inc (Toronto Stock Exchange: PPI, SWX SWISS EXCHANGE: PPI). PPI is a Calgary based company with various holdings in real estate, natural resources and other businesses. In 1998 - 2001, PPI was one of the fastest growing companies in Canada, joining the TSE 300 stock index and raising over $100 million, principally from Swiss institutional investors. In 2002, the Alberta Securities Commission ('the ASC') made various charges against PPI, and in particular Peter Workum, its CEO, and Theodor Hennig, its CFO. PPI is alleged to have misstated its financial statements in 1998, 1999, 2000 and 2001. Further, Workum and/or Hennig are alleged to have directed PPI to pay over $5 million in secret offshore commissions to companies they controlled, manipulated share prices of listed companies, made covert insider trades and made misrepresentations to the ASC under oath. On August 15, 2002, the ASC issued a cease trade order against the shares of PPI and on September 20, 2002 the ASC made an order prohibiting Workum and Hennig from being a director or officer of any company in Alberta. MFC announced that the objective of the PPI Shareholder Action Group was to allow shareholders to work together to: i) establish a new Board of Directors of the Company unrelated to Mr. Workum; ii) protect PPI from any attempts by Mr. Workum or his associates to effect direct or indirect control of the Company; iii) establish a plan to maximize shareholder value of the Company; iv) re-commence the trading of PPI shares as soon as possible. MFC further announced that it has already received support from a number of PPI shareholders and would be pursuing discussions with other shareholders as well as the Board of Directors of PPI. The action group is also considering its various legal alternatives. - MORE - FORMATION OF SHAREHOLDER ACTION GROUP TO RECOVER SHAREHOLDER VALUE AT PROPRIETARY INDUSTRIES Page -2- Michael Smith, President of MFC, commented, 'PPI shareholders are of course shocked by the events of the last few months. It is clear that shareholders must now act quickly to rescue their investment and protect the company. We are calling on all shareholders for their support in our efforts, and in particular large Swiss institutional shareholders each of whom holds millions of PPI shares. We believe that a failure to act may well result in the shares not trading for a prolonged or indefinite period and little or no recovery for shareholders.' PPI Shareholders are encouraged to contact the Action Group at the following phone numbers: Switzerland Claudio Morandi 41 71 353 08 80 or cmorandi@mfcbank.ch Canada Roy Zanatta (604) 683 5767 or rzanatta@bmgmt.com ABOUT MFC BANCORP MFC Bancorp Ltd. owns companies that operate in the financial services industry, specialising in merchant banking internationally. To obtain further information on the Company, please visit its web site at http://www.mfcbancorp.com ------------------------- Certain statements included herein are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Management of MFC cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause the actual results of operations or financial condition of MFC to differ include, but are not necessarily limited to, the risks and uncertainties discussed in documents filed by MFC with the Securities and Exchange Commission. 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. Registrant MFC Bancorp Ltd. ------------------ By /s/ Roy Zanatta ----------------- Roy Zanatta Date November 5, 2002 ------------------ -----END PRIVACY-ENHANCED MESSAGE-----