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): January 12, 2007
South Dakota Soybean Processors, LLC
(Exact name of Registrant as specified in its charter)
South Dakota |
| 000-50253 |
| 46-042968 |
(State or other jurisdiction of |
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| (I.R.S. Employer Identification No.) |
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100 Caspian Ave. PO Box 500 |
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| 57071 |
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Registrant’s telephone number, including area code: (605) 647-9240
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:
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| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.02 Termination of a Material Definitive Agreement.
On January 12, 2007, the registrant, South Dakota Soybean Processors, LLC, ceased negotiations with Transocean Group Holdings PTY Ltd. (“Transocean”) of Sydney, Australia, with respect to a Heads of Agreement dated April 28, 2006. The purpose of the Heads of Agreement between the registrant and Transocean was to set forth certain general terms relating to the proposed future development and operation of a biodiesel refinery to be located in Volga, South Dakota. Negotiations between the parties were ceased due to a failure to reach an agreement on a number of these key terms. As a result, the parties will no longer be pursuing jointly the proposed development of the refinery.
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.
SOUTH DAKOTA SOYBEAN PROCESSORS, | ||||
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Dated: January 15, 2007 | By: | /s/ Rodney Christianson |
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| Rodney Christianson, Chief Executive |