-----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, EPr1vlWVo7KlWCHv7oBWAyGtTs0Zti7FfqOONIGKp7gB4z1N2b1G12HDZM+p8Kb0 NZ2wwRljhHMavwQUFD2HbA== 0001193125-04-151040.txt : 20040902 0001193125-04-151040.hdr.sgml : 20040902 20040902102835 ACCESSION NUMBER: 0001193125-04-151040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040830 ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040902 DATE AS OF CHANGE: 20040902 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WORLD MONITOR TRUST SERIES A CENTRAL INDEX KEY: 0001051822 STANDARD INDUSTRIAL CLASSIFICATION: [6221] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-43033 FILM NUMBER: 041012620 BUSINESS ADDRESS: STREET 1: ONE NEW YORK PLAZA 13TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10292-2013 BUSINESS PHONE: 2127787866 MAIL ADDRESS: STREET 1: ONE NEW YORK PLAZA 13TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10292-2013 8-K 1 d8k.htm CURRENT REPORT DATED AUGUST 30, 2004 Current Report dated August 30, 2004

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) August 30, 2004

 


 

World Monitor Trust – Series A

(Exact name of Registrant as Specified in its Charter)

 


 

Delaware   000-25785   13-3985040

(State or Other Jurisdiction

of Incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

One New York Plaza, 13th Floor, New York, New York 10292

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code (212) 778-7866

 


 

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)

 



Item 1.02 Termination of Material Definitive Agreement

 

On August 30, 2004, the Advisory Agreement, dated as of March 21, 2000 (the “Agreement”), by and among World Monitor Trust – Series A (the “Trust”), Prudential Securities Futures Management Inc. (the “Managing Owner”) and Eagle Trading Systems, Inc. (the “Advisor”), was terminated in accordance with its terms.

 

Under the Agreement, the Advisor provides commodity advisory services to the Trust. The Agreement provides that it will terminate automatically in the event that the total assets of the Trust allocated to the Advisor decline by 33 1/3% from the first day of any calendar year, as adjusted on an ongoing basis by (a) any decline in the assets caused by distributions, redemptions, permitted reallocations, and withdrawals, and (b) additions to the assets caused by additional allocations to the Advisor’s management. As of the close of business on August 27, 2004, the Trust’s net asset value declined by 33 1/3% since the beginning of the calendar year. Accordingly, the Agreement was automatically terminated and the Advisor was immediately directed to cancel all open orders and to close out all of its market positions on behalf of the Trust.

 

As noted in the attached letter to Interest Holders in the Trust, the Managing Owner is soliciting proxies for a proposal that, if approved, would result in the Managing Owner being replaced by another commodity pool operator.

 

Item 9.01(c) Exhibits

 

99.1 Letter from the Managing Owner to investors in the Trust dated September 2, 2004.


Signature

 

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.

 

   

WORLD MONITOR TRUST – SERIES A

   

By:

 

Prudential Securities Futures Management Inc.,

       

a Delaware corporation, Managing Owner

Date: August 30, 2004

 

By:

 

/s/ Brian Martin


       

Brian Martin

       

President

EX-99.1 2 dex991.htm LETTER FROM THE MANAGING OWNER Letter from the Managing Owner

Exhibit 99.1

 

Prudential Securities Futures Management Inc.

 

September 2, 2004

 

Re: World Monitor Trust – Series A (the “Fund”)

Termination of Trading Advisory Agreement

 

Dear Interest Holder:

 

We are writing to inform you that Eagle Trading Systems, Inc. (“Eagle”) will no longer serve as the Trading Advisor to the Fund. In accordance with its terms, the Trading Advisory Agreement with Eagle is terminated automatically if the assets allocated to Eagle decline by 33 1/3% from the start of trading or during any one calendar year. Unfortunately, as of the close of business on August 27, 2004, the Fund’s NAV declined, since the beginning of the year, by such 33 1/3% amount. Accordingly, the Trading Advisory Agreement was terminated and Eagle was immediately directed to cancel all open orders and to close out all of its market positions on behalf of the Fund.

 

As you know, the Fund is currently soliciting investor votes for a Proposal that, if approved, would result in Prudential Securities Futures Management Inc. being replaced as the Fund’s Managing Owner by Preferred Investment Solutions Corp. (f/k/a Kenmar Advisory Corp.) Preferred has been advised that the Trading Advisory Agreement with Eagle has been terminated and is currently reviewing options for the Fund. Until such time as a replacement CTA may be employed, the Fund’s assets, which are all cash, will be maintained in an interest bearing account.

 

As a reminder, the Proposal will be considered at a special meeting of Limited Owners to be held on September 21, 2004. Until such time, you may submit a proxy to vote on the Proposal, or change or revoke your previously submitted proxy vote.

 

If you have any questions, please do not hesitate to call your Financial Advisor. You may also call us at 212-778-7866.

 

Sincerely,

 

Brian J. Martin

President

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