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EX-10 - TOR MINERALS INTERNATIONAL INCexhibit10-1rhb.htm

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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):
February 20, 2017

TOR Minerals International, Inc.
(Exact Name of Registrant as Specified in Its Charter)


Delaware
(State or Other Jurisdiction of Incorporation)

 

0-17321
(Commission File Number)

722 Burleson Street
Corpus Christi, Texas
(Address of Principal Executive Offices)

74-2081929
(IRS Employer Identification No.)


78402
(Zip Code)

(361) 883-5591
(Registrant’s Telephone Number, Including Area Code)

N/A
(Former Name or Former Address, if Changed Since Last Report)

 

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 (see General Instruction A.2. below):

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

         

 

 

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ITEM 1.01           ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

 

On February 21, 2017, our subsidiary, TOR Minerals Malaysia (“TMM”), amended its short term banking facility with RHB Bank Berhad (the (“RHB”) to extend the maturity date to August 11, 2017.  The RHB facility includes the following

 

Facility

 

Total Limit (RM)

 

USD Equivalent
at 2/21/2017

 

 

 

 

 

Uncommitted Multi-Trade Line (MTL)

 

RM 3,500,000-00

$

785,158 

Letter of Credit (LC)/Shipping Guarantee (SG)/

 

 

 

 

Bankers Acceptance (BA)/Trust Receipt (TR)/

 

 

 

 

Bill Purchased (BP)/

 

 

 

 

Export Credit Refinancing (ECR)/

 

 

 

 

Foreign Currency Trade Financing (FCTF)/

 

 

 

 

Promissory Notes (PN)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Guarantee (BG)

 

RM 1,200,000-00

$

269,197 

 

 

 

 

 

 

 

 

 

 

Foreign Exchange Contract Line (FECL)

 

RM 2,500,000-00

$

560,827 

(10% risk)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

 

RM 7,200,000-00

$

1,615,183 

 

 

 

No funds were outstanding on the RHB facility at December 31, 2016.

 

 

ITEM 2.03           CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER
AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
.

 

The information contained in Item 1.01 of this report is incorporated herein by reference.

 

 

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ITEM 9.01           FINANCIAL STATEMENTS AND EXHIBITS

 

(d)

Exhibits.
The following exhibit is furnished in accordance with the provisions of Item 601 of Regulation S-B:

 

Exhibit
Number

10.1


Description

RHB Berhad Bank Amendment to Credit Facility, dated February 20, 2017



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.


 

TOR MINERALS INTERNATIONAL, INC.
_____________________
(Registrant)

       



 

 

 

 

Date: February 22, 2017

/s/ BARBARA RUSSELL

 

Barbara Russell
Chief Financial Officer

 

 

 

 

 

EXHIBIT INDEX

 

 

Exhibit
Number

10.1


Description

RHB Berhad Bank Amendment to Credit Facility, dated February 20, 2017

 

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