SC 13D/A 1 t021103.txt DESWELL INDUSTRIES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (AMENDMENT NO. 2) DESWELL INDUSTRIES, INC (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securities) 250639 10 1 (CUSIP Number) Mr. Joseph Li c/o Nam Tai Group Management Ltd. 15/F., China Merchants Tower Shun Tak Centre 168-200 Connaught Road Central, Hong Kong Telephone: (852) 2341-0273 Fax: (852) 2341-4164 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ------------------------ with copy to: Mr. Lorne Waldman, ESQ. Pan Pacific I.R. Ltd. 1790 - 999 West Hastings St. Vancouver, British Columbia V6C 2W2 Canada Telephone: (604) 669-7800 Fax: (604) 669-7816 March 7, 2002 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|. Check the following box if a fee is being paid with the statement |_|.
----------- -------------------------------------------------------------------- 1. NAME OF REPORTING PERSON - Nam Tai Electronics, Inc. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ----------- -------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a)|_| (b)|_| ----------- -------------------------------------------------------------------- 3. SEC USE ONLY ----------- -------------------------------------------------------------------- 4. SOURCE OF FUNDS N/A ----------- -------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| ----------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands ----------- -------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER: 245,000 SHARES -------- ---------------------------------------- BENEFICIALLY 8. SHARES VOTING POWER : N/A OWNED BY -------- ---------------------------------------- EACH 9. SOLE DISPOSITIVE POWER: 245,000 REPORTING -------- ---------------------------------------- PERSON 10. SHARES DISPOSITIVE POWER: N/A WITH ----------- -------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 245,000 ----------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| ----------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% ----------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON CO ----------- --------------------------------------------------------------------
Item 1. Security and Issuer This statement relates to the Common Shares, $0.01 par value, of Deswell Industries, Inc., an International Business Company organized under the laws of the British Virgin Islands (the "Company"). The principal executive offices of the Company are: Unit 516-517, Hong Leong Industrial Complex, # 4 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong. Item 2. Identity and Background Nam Tai Electronics, Inc. (which together with its wholly owned subsidiaries is hereafter referred to as "Nam Tai") was incorporated as a limited liability International Business Company under the laws of the British Virgin Islands in August 1987. Nam Tai's corporate administrative matters are conducted in the British Virgin Islands through its registered agent, McW. Todman & Co., McNamara Chambers, P.O. Box 3342, Road Town, Tortola, British Virgin Islands. Nam Tai's principal executive offices are located in the Hong Kong Special Administrative Region ("Hong Kong"), of the People's Republic of China ("China"). Its address is 15/F., China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong. Nam Tai provides design and manufacturing services to original equipment manufacturers ("OEMs") of consumer electronic products. During the past five years Nam Tai has not been convicted in a criminal proceeding and has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which it is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws of finding any violation with respect to such laws. Item 3. Source and the Amount of Funds or Other Consideration. Not Applicable. Item 4. Purpose of the Transaction. The purpose of the transaction is to increase working capital and realize a profit upon the sale of the Common Shares. Nam Tai may in the future purchase or sell Common Shares in the open market for investment purposes. Nam Tai has no plans or proposals that relate to or would result in the matters identified in Item 4(a) through (j) of Schedule 13D except as previously filed. Item 5. Interest in Securities of the Issuer (a) At March 8, 2002, as a result of the sale of 75,000 Common Shares, Nam Tai Electronics, Inc. beneficially owns 245,000 of the Common Shares outstanding. The percentage ownership was calculated in accordance with Rule 13d(1)(i) under the Securities Exchange Act of 1934 and based on 5,601,000 weighted average Common Shares outstanding for the third quarter ended December 31, 2001. (b) Nam Tai Electronics, Inc. has exclusive investment voting and investment power over the Common Shares referred to in paragraph (a). (c) The following table sets forth details of the open market sales of the Company's Common Shares (all of which were made through UBS PaineWebber Incorporated) made by Nam Tai Electronics, Inc. during the last sixty days.
Trade Date Number of Shares Sales Price ($) Proceeds ($) Sold (#) -------------------------------------------------------------------------- February 1, 2002 20,000 20.000005 $398,789.59 -------------------------------------------------------------------------- February 5, 2002 4,800 20.000000 $95,706.06 -------------------------------------------------------------------------- February 14, 2002 4,000 20.000000 $79,754.30 -------------------------------------------------------------------------- February 20, 2002 40,000 20.017500 $798,282.73 -------------------------------------------------------------------------- February 21, 2002 61,200 20.045487 $1,223,088.14 -------------------------------------------------------------------------- February 22, 2002 50,000 20.015000 $997,729.73 -------------------------------------------------------------------------- March 5, 2002 15,000 20.093333 $300,490.22 -------------------------------------------------------------------------- March 6, 2002 25,000 20.110000 $501,237.20 -------------------------------------------------------------------------- March 7, 2002 35,000 20.380000 $711,184.05 -------------------------------------------------------------------------- March 8, 2002 15,000 20.416670 $305,340.16 -------------------------------------------------------------------------- TOTAL 255,000 $5,411,602.18 --------------------------------------------------------------------------
Item 6. Contracts, Arrangements, Understandings or Relations With Respect to Securities of the Issuer. Previously reported. Item 7. Material to Be Filed As Exhibits. Not Applicable Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. NAM TAI ELECTRONICS, INC. By: /s/ JOSEPH LI ----------------------- JOSEPH LI CHIEF FINANCIAL OFFICER Date: March 11, 2002