Lau Wai Ming Files 13D for Deswell Industries
Ticker: DSWL · Form: SC 13D · Filed: May 29, 2024 · CIK: 946936
Sentiment: neutral
Topics: ownership-change, schedule-13d, activist-filing
Related Tickers: DSWL
TL;DR
**DESWELL:** Lau Wai Ming just filed a 13D. Ownership change incoming.
AI Summary
Lau Wai Ming has filed a Schedule 13D for Deswell Industries, Inc. on May 29, 2024, indicating a change in beneficial ownership. The filing details the acquisition of common shares, no par value, with a CUSIP number of 250639101. The event requiring this filing occurred on May 22, 2024.
Why It Matters
This filing signals a significant change in the ownership structure of Deswell Industries, Inc., potentially impacting its stock price and corporate strategy.
Risk Assessment
Risk Level: medium — A Schedule 13D filing indicates a significant stake and potential for activist involvement, which can introduce volatility.
Key Numbers
- 250639 10 1 — CUSIP Number (Identifies the specific security of Deswell Industries, Inc.)
Key Players & Entities
- Lau Wai Ming (person) — Filing person reporting beneficial ownership change
- Deswell Industries, Inc. (company) — Subject company of the filing
- May 29, 2024 (date) — Date of filing
- May 22, 2024 (date) — Date of event requiring filing
FAQ
What is the specific percentage of Deswell Industries, Inc. shares beneficially owned by Lau Wai Ming?
The provided text does not specify the exact percentage of shares beneficially owned, only that a Schedule 13D is being filed due to a change in ownership.
What was the nature of the event on May 22, 2024, that triggered this 13D filing?
The filing states that May 22, 2024, was the 'Date of Event which Requires Filing of this Statement,' but the specific nature of the event (e.g., acquisition threshold crossed) is not detailed in this excerpt.
Who is Carrie Leahy Bodman PLC and what is their role?
Carrie Leahy Bodman PLC is listed as the 'Person Authorized to Receive Notices and Communications' for the filing, with an address in Ann Arbor, MI.
What is the business address of Deswell Industries, Inc. and the filing person?
Both Deswell Industries, Inc. and the filing person, Lau Wai Ming, share the same business and mail address: 10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU, 32 RUA DO COMANDANTE MATA E OLIVEIRA, MACAO.
Is this a new filing or an amendment to a previous filing?
The filing is a Schedule 13D, and the text mentions the possibility of having previously filed a Schedule 13G, but this specific filing appears to be the primary Schedule 13D for this event.
Filing Stats: 1,126 words · 5 min read · ~4 pages · Grade level 7.7 · Accepted 2024-05-29 16:01:16
Filing Documents
- ea0206775-13dming_deswell.htm (SC 13D) — 34KB
- 0001174947-24-000765.txt ( ) — 36KB
Security and Issuer
Item 1. Security and Issuer This statement on Schedule 13D relates to the Common Shares, no par value, of Deswell Industries, Inc., a limited liability International Business Company incorporated under the laws of the British Virgin Islands (the “Issuer”). The Issuer’s principal offices are located at 10B Edificio Associacao Industrial De Macau, 32 Rua do Comandante Mata e Oliveira, Macao.
Identity and Background
Item 2. Identity and Background (a)-(c) This statement is being filed pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) by Lau Wai Ming, whose principal business address is 10B Edificio Associacao Industrial De Macau, 32 Rua do Comandante Mata e Oliveira, Macao. Ms. Lau is the Chair of the Board of Directors of the Issuer. (d) Not applicable. (e) Not applicable. (f) Ms. Lau is a citizen of Hong Kong.
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration Ms. Lau is the daughter of Richard Pui Hon Lau, the former Chairman of the Board of the Issuer. Mr. Lau passed away on June 12, 2023. Upon the settlement of his estate, Ms. Lau inherited all of the Common Shares beneficially owned by Mr. Lau. The shares reported on this Schedule 13D represent the shares that were previously beneficially owned by Mr. Lau; once shares previously held of record by Mr. Lau are transferred, an amendment to this Schedule 13D will be filed to reflect such transfer.
Purpose of Transaction
Item 4. Purpose of Transaction Ms. Lau holds the Common Shares covered by this Schedule 13D for investment purposes. Ms. Lau intends to review her investment in the Company on a continuing basis. Depending on the price and availability of the Company’s securities, developments affecting the Company, the business prospects of the Company, general stock market and economic conditions, tax considerations, investment considerations and/or other factors deemed relevant, Ms. Lau may consider increasing or decreasing her investment in the Company, through one or more open market purchases or private transactions. Ms. Lau beneficially owns the majority of the outstanding Common Shares of the Company. This will impede the acquisition of control by any other person, unless Ms. Lau elects to sell her Common Shares. Ms. Lau does not have any current plans or proposals that relate to or would result in any of the actions set forth in clauses (a) through (j) of Item 4 of Schedule 13D, other than the anticipated transfer of Common Shares previously held of record by Mr. Lau referenced above.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer (a)–(b) As of the date hereof Ms. Lau beneficially owns 8,420,806 Common Shares. Such shares consist of 8,220,806 Common Shares held of record by Ms. Lau and an immediately exercisable option to purchase up to 200,000 Common Shares. Such holdings represent 52.2% of the Common Shares. Ms. Lau has sole power to vote and dispose of all Common Shares held of record by Ms. Lau as of the date hereof, and upon exercise of any portion of the Stock Option, would have sole power to vote and dispose of any Common Shares so acquired. CUSIP No. 250639 10 1 13D Page 4 of 5 (c) Ms. Lau has not purchased or sold any Common Shares of the Issuer in the past sixty days. (d) Not applicable. (e) Not applicable.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Not applicable.
Exhibits
Item 7. Exhibits . Not applicable. CUSIP No. 250639 10 1 13D Page 5 of 5 SIGNATURE After reasonable inquiry, and to the best of my knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. /s/ Lau Wai Ming Lau Wai Ming Date: May 29, 2024