- Current report filing (8-K)
01 May 2009 - 8:12PM
Edgar (US Regulatory)
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): April 27, 2009
SOLAR ENERTECH
CORP.
(Exact
name of Company as specified in Charter)
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Delaware
(State
or other jurisdiction of
incorporation or
organization)
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000-51717
(Commission File
No.)
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98-0434357
(IRS
Employee Identification No.)
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1600
Adams Drive
Menlo
Park, California 94025
(Address
of Principal Executive Offices)
(650) 688-5800
(Issuer
Telephone number)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Company under any of the following
provisions (see General Instruction A.2 below).
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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
CFR240.14a-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 240.13(e)-4(c))
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Item 1.01
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Entry into a Material
Definitive Agreement.
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On
April 27, 2009, Solar EnerTech Corp. (“Solar EnerTech”) entered into a Joint
Venture Agreement (the “Agreement”) with Jiangsu Shunda Semiconductor
Development Co., Ltd. (“Jiangsu Shunda”) to form a joint venture in the United
States by forming a new company, to be known as Shunda-SolarE
Technologies, Inc. (the “Joint Venture Company”), in order to jointly pursue
opportunities in the US solar market.
Pursuant to the terms of the Agreement,
Jiangsu Shunda will own 55% of the Joint Venture Company, Solar EnerTech will
own 35% of the Joint Venture Company and the remaining 10% of the Joint Venture
Company will be owned by the Joint Venture Company’s management. The
Joint Venture Company’s Board of Directors will consist of five directors: three
of the whom will be nominated by Jiangsu Shuda and two of whom will be nominated
by Solar EnerTech. Furthermore, Mr. Yunda Ni, the President of
Jiangsu Shunda, will serve as the Joint Venture Company’s Chairman of the Board
and Mr. Leo Shi Young, Solar EnerTech’s Chief Executive Officer, will serve as
the Joint Venture Company’s Vice Chairman of the Board. Jiangsu
Shunda is responsible for preparing the Joint Venture Company in China and Solar
EnerTech is responsible for the preparing the Joint Venture Company in the
United States. The Agreement is valid for 18
months. A copy of the Agreement is attached hereto as Exhibit
10.1.
Item 9.01
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Financial Statement and
Exhibits.
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(d)
Exhibits
Exhibit
No.
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Description
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10.1
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Joint
Venture Agreement between Solar EnerTech and Jiangsu Shunda Semiconductor
Development Co., Ltd. effective April 27,
2009.
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99.1
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Press
Release dated April 28, 2009 announcing establishment of joint
venture.
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SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, Solar EnerTech has duly caused this Current
Report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated:
May 1, 2009
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SOLAR
ENERTECH CORP.
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By:
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/s/
LEO
SHI YOUNG
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Leo
Shi Young, Chief Executive Officer
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