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: | March 3, 2014 | |
| Omagine, Inc. | ||
| (Exact name of Registrant as specified in its charter) | ||
| Delaware | 0-17264 | 20-2876380 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| Of incorporation) | File Number) | Identification Number) |
| 350 Fifth Avenue, 48th Floor, New York, N.Y. | 10118 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (212) 563-4141
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of Registrant under any of the following provisions:
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Written communication pursuant to Rule 425 under the Securities Act;
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act;
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Pre-commencement communication pursuant to rule 14d-2(b) under the Exchange Act;
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Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act.
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Item 8.01 - Other Events
In a continuing effort to provide maximum visibility into the Development Agreement (“DA”) signing process currently underway, Omagine, Inc. (the "Company") is providing the following information in order to keep its shareholders informed of the Company’s activities regarding the DA for the Omagine Project in Oman.
The Omagine Project is planned to be developed on a one million square meter plot of beachfront land (equal to approximately 245 acres) facing the Gulf of Oman just west of the capital city of Muscat (the "Omagine Site").
As previously reported:
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On February 13, 2014, the Ministry of Tourism (“MOT”) proposed a slight variation to the boundaries of the Omagine Site (the “New Boundaries”).
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On February 17, 2014, Omagine LLC accepted and agreed to the New Boundaries.
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On February 18, 2014, Omagine LLC delivered copies of the final Omagine DA to MOT (the “Final DA”).
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4)
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In order to move forward and sign the DA, it is now only necessary that MOT:
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a.
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approve the Final DA, and
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b.
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secure a new land deed from the Ministry of Housing showing the New Boundaries (the “New Deed”).
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On March 3, 2014, the Company’s president, Frank Drohan, spoke to the Minister of Tourism, His Excellency Ahmed Al-Mahrizi, who informed Mr. Drohan as follows:
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a)
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The Final DA was acceptable, and
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b)
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MOT had determined that, since the land for the Omagine Site came from His Majesty, the Sultan, it was also necessary that the Office of Royal Court Affairs consent to the New Boundaries. H.E. Mahrizi informed Mr. Drohan that this could be accomplished by a letter or telephone call to him from H.E. Nasser Al-Kindy of Royal Court Affairs, and
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c)
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That as soon as RCA had consented to the New Boundaries, he would direct the Minister of Housing to issue the New Deed, and
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d)
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As soon as the New Deed was issued, he was ready to sign the DA with Omagine LLC.
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Mr. Drohan immediately telephoned the Chief Investment Officer of RCA, Mr. Suleiman Al-Yahyai, who was in Singapore on business and informed him of his discussion with H.E. Mahrizi. Mr. Al-Yahyai informed Mr. Drohan that he would return to Muscat on Saturday, March 9th, and that he would promptly thereafter attend to this matter with H.E. Al-Kindi.
Management continues to have a very high degree of certainty in its belief at this time that the Omagine Development Agreement will be signed in the very near term.
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Forward Looking Statements
Certain statements made in this report on Form 8-K are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the future results implied by such forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements – including management’s present expectation and belief that the Development Agreement and the Usufruct Agreement will be signed by Omagine LLC and the Government - are based on reasonable assumptions, the Company's actual results could differ materially from those set forth or implied in such forward-looking statements. Factors that could cause such differences include but are not limited to the uncertainty of success associated with Omagine LLC’s ongoing efforts (including the many delays as described in our previous SEC Reports) to sign the Development Agreement and the Usufruct Agreement with the Government of the Sultanate of Oman.
Item 9.01 Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Not applicable
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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 hereunto duly authorized.
Dated: March 3, 2014
| Omagine, Inc. | |||
| (Registrant) | |||
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By:
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/s/ Frank J. Drohan | |
| Frank J. Drohan | |||
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Chairman of the Board,
President and Chief
Executive Officer
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