UNITED STATES
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) December 2, 2002
NUTEK, INC.
(Exact name of Registrant as specified in charter)
Nevada 0-29087 87-0374623
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification)
6340 McLeod Drive, Suite 3, Las Vegas, NV 89120
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 262-2061
ITEM 9. Regulation FD Disclosure
Nutek is exiting the Depository Trust and Clearing Corp. (DTCC)
and Canadian Depository for Securities Limited (CDS) post-trading
settlement and clearing systems.
Effective immediately, ownership of the company's common shares
must now be evidenced in certificated form under seal of the
company and signed by the president and secretary of the company.
As a result, no valid or legally enforceable transfer of Nutek
common stock will be made through DTCC or CDS or their nominees.
(c) Exhibits
10. Press Release dated December 2, 2002
SIGNATURES:
Pursuant to the requirements of the Securities Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
December 2, 2002.
Nutek, Inc.
By:/s/Murray N. Conradie
_____________________
Murray N. Conradie, President/CEO
TYPE: EX-10.23 OTHERDOC
SEQUENCE: 3
DESCRIPTION: Press Release dated December 2, 2002
Nutek Inc. Announces Certificated Ownership Requirements
LAS VEGAS--(BUSINESS WIRE)--Dec. 2, 2002--
Nutek Inc. (OTCBB: NUTK - News; "Nutek" or the "company") today
announced that it is exiting the Depository Trust and Clearing
Corp. (DTCC) and Canadian Depository for Securities Limited (CDS)
post-trading settlement and clearing systems.
Effective immediately, ownership of the company's common shares
must now be evidenced in certificated form under seal of the
company and signed by the president and secretary of the company.
As a result, no valid or legally enforceable transfer of Nutek
common stock will be made through DTCC or CDS or their nominees.
From this day forward, common shares of the company shall be
transferred only within the provisions of "Certificate Only"
or "Custody Only" status. All clearing and settlement of trades
will be effected through the brokers and Nutek's transfer agent
by the delivery and issuance of physical certificates evidencing
the shares.
No certificates shall be printed or entered into the company's
books via its transfer agent in the names of either Cede & Co.,
Depository Trust Corp., CDS & Co. or any other such type of
depository for certificates; and certificates shall only be printed
or entered into the company's books in the name of the beneficial
owner of the shares of the company's stock. All certificates
surrendered to the company's transfer agent shall be cancelled,
with new certificates in the name of the true beneficial owner
issued in their places, and no new certificates shall be issued
until the former certificate for the same number of shares shall
have been surrendered or cancelled.
Nutek's management believes that its program of certificated
ownership will enhance the fairness and integrity of Nutek's share
trading system, protect shareholder value and reduce the potential
for unfair and improper trading practices.
Effect of the New Share Transfer Policy to Shareholders: this
change will not restrict or in any way limit current or future
shareholders from purchasing, holding or selling shares in the
normal method through the existing and established broker dealer
network. The reason for this change is to ensure the integrity of
the market for shares of Nutek's common stock and to protect the
investments of bona fide shareholders.
To Become a Registered Shareholder: as a result of the company's
Custody Only Common Share Transfer System, current company shareholders
holding their shares in "street name" (shares owned by a client
held by a brokerage in the name of Cede & Co., which is the nominee
for the Depository Trust Corp.) in their brokerage accounts should
immediately become registered shareholders by ordering certificates
representing their Nutek common shares. As a registered shareholder,
the company will be better able to provide shareholder communications
relating to its business development and provide timely information.
In addition, becoming a registered shareholder helps to ensure the
integrity of the market for your shares and helps guard the value of
your investment. To become a registered shareholder, current shareholders
should contact the broker that holds their shares of Nutek common stock,
and ask them for physical delivery of their share certificates,
registered in their own names. This process should take no longer than
three weeks. If it takes longer, shareholders are encouraged to contact
the company directly with the name and contact information of the broker
holding the Nutek shares. Shareholders are encouraged to contact their
advisors if they have any questions regarding this procedure.
The company has arranged for shareholders not wishing to take
physical possession of their share certificates to deposit these
with the company's transfer agent for safekeeping. Please contact
the transfer agent, Transfer Online, www.transferonline.com directly
to make arrangements.
The company is committed to our shareholders and will remain diligent
in providing fair and accurate representation and value of their company
to the investing public.
Nutek is a holding company, with a concentrated focus on three
primary operating divisions, diversified in very different industries.
Nutek is devoted to the acquisition, development and marketing of
proprietary consumer/commercial products. In addition to this division,
Nutek Oil Inc., based in San Antonio, and Datascension Inc., based in
Riverside, Calif., round out the current operating units of Nutek.
Websites: www.nutk.com www.datascension.com www.tekplate.com
Statements contained in this document which are not historical fact are
forward-looking statements based upon management's current expectations that
are subject to risks and uncertainties that could cause actual results to
differ materially from those set forth in forward-looking statements.
CONTACT: James Stock
Stock Enterprises
Telephone 702/614-0003
E-mail: stockenter@aol.com
or
Transfer Online
503/227-2950 (Transfer Agent)