Unassociated Document
UNITED STATES 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): April 30, 2009 (April 24,
2009)
China
Automotive Systems, Inc.
(Exact
Name of Registrant as Specified in its Charter)
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Delaware
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000-3123
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33-0885775
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(State
or other jurisdiction of
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(Commission
File Number)
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(I.R.S.
Employer
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incorporation
or organization)
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Identification
No.)
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Identification
No.)
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No.
1 Henglong Road, Yu Qiao Development Zone
Shashi
District, Jing Zhou City
Hubei
Province
People’s
Republic of China
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code (86) 27-5981 8527
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01 Other Events
As
discussed in the Annual Report on Form 10-K filed by China Automotive Systems,
Inc., the “Company”, with the
Securities and Exchange Commission on March 26, 2009, the Company received a
letter from the joint and several provisional liquidator acting on behalf of
Lehman Brothers Commercial Corporation Asia Limited, the “LBCCA Liquidator”, requesting
that it be granted an extension of time until April 24, 2009 to obtain legal
advice and to consider its rights under the aggregate $30 million convertible
notes, the “Convertible
Notes”, purchased by Lehman Brothers Commercial Corporation Asia Limited,
“LBCCA”. The
Company has granted an extension to April 15, 2009. After
various discussions, the LBCCA Liquidator further requested an extension of
delivery of redemption notices to April 24, 2009.
On April
24, 2009, LBCCA’s lawyers sent three Holder Redemption Notices all dated April
24, 2009 via fax electing to redeem the entire outstanding principal, in the
aggregate sum of $30,000,000, together with interest, late charges, if any, and
the Other Make Whole Amount as defined in the Convertible Notes, to be paid on
July 23, 2009.
The
Company is reviewing whether the letter, request for extension, the Holder
Redemption Notices and other matters relating to the Convertible Notes have
followed the terms of the securities purchase agreement dated February 1, 2008
and the Convertible Notes. The Company is seeking legal advice and
will negotiate with LBCCA Liquidator to resolve this
situation.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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China Automotive Systems,
Inc. |
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(Registrant) |
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Date: April
30, 2009
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By:
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/s/ Hanlin
Chen |
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Hanlin
Chen |
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Chairman |
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