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
April 15, 2014
Date of Report (date of earliest event reported)
UTi Worldwide Inc.
(Exact name of Registrant as Specified in its Charter)
000-31869
(Commission File Number)
| British Virgin Islands | N/A | |
| (State or Other Jurisdiction of Incorporation or Organization) | (IRS Employer Identification Number) | |
| 9 Columbus Centre, Pelican Drive | c/o UTi, Services, Inc. | |
| Road Town, Tortola | 100 Oceangate, Suite 1500 | |
| British Virgin Islands | Long Beach, CA 90802 USA | |
(Addresses of Principal Executive Offices)
562.552.9400
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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:
| ¨ | 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)) |
UTi Worldwide Inc.
Current Report on Form 8-K
| Item 1.02 | Termination of a Material Definitive Agreement. |
As previously disclosed by UTi Worldwide Inc. (“UTi”), in connection with UTi’s recent refinancing on March 27, 2014 the Company repaid the cash draw portion of its 2011 credit facility with Nedbank Limited (“Nedbank”) acting through its London Branch (the “2011 Nedbank Facility”). As of April 15, 2014, UTi entered into a Deed of Charge and deposited $10.0 million with Nedbank to cash collateralize the letters of credit which were then outstanding under the 2011 Nedbank Facility. In connection therewith, as of April 15, 2014 the 2011 Nedbank Facility and all commitments thereunder were terminated and all obligations of UTi thereunder satisfied (other than specific contingent indemnification obligations for which no claim or demand has been made and other limited provisions which survive the termination of the agreement).
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.
| UTi Worldwide Inc. | ||||||
| Date: April 21, 2014 | By: | /s/ Lance E. D’Amico | ||||
| Lance E. D’Amico | ||||||
| Senior Vice President, Chief Legal Officer and Secretary | ||||||