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CHTL.OB > SEC Filings for CHTL.OB > Form 8-K on 5-Nov-2009All Recent SEC Filings

Show all filings for CHINA TEL GROUP INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for CHINA TEL GROUP INC


5-Nov-2009

Termination of a Material Definitive Agreement, Change in Directors or Princi


Item 1.02 Termination of a Material Definitive Agreement.

On November 2, 2009, China Tel Group, Inc. ("Company") exercised its right to terminate the Amended and Restated Stock Purchase Agreement ("Agreement") previously entered into between the Company and Olotoa Investments, LLC ("Olotoa"). The Company determined it was necessary to terminate the Agreement in order to decide on other offers for equity funding currently being presented to the Company. In terminating the Agreement, the Company reserved its rights to seek damages from Olotoa for its breach of the Agreement. Attached as Exhibit 99.1 to this Form 8-K is a copy of the Company's Notice of Termination it sent to Olotoa.



Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective November 2, 2009, Mr. Robert P. Weygand, Jr. tendered his resignation as a member of the Board of Directors of the Company, and the Company's Board of Directors accepted the tendered resignation. Attached as Exhibit 99.2 to this Form 8-K is a copy of the Mr. Weygand's tender of resignation.

Item 9.01 Exhibits

99.1 Termination Notice dated November 2, 2009

99.2 Tender of Resignation dated November 2, 2009


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