4//SEC Filing
BONTEX INC 4
Accession 0000906504-03-000023
CIK 0000041052operating
Filed
Jul 15, 8:00 PM ET
Accepted
Jul 16, 2:12 PM ET
Size
11.2 KB
Accession
0000906504-03-000023
Insider Transaction Report
Form 4
BONTEX INCBOTX.PK
No transactions or holdings reported in this filing.
Footnotes (7)
- [F1]Reflects shares purchased by Dolores S. Kostelni, the reporting person's spouse, from Patricia S. Tischio, which shares represent the shares that Patricia S. Tischio received (or is deemed to have received) in a distribution from the Hugo N. Surmonte Residuary Trust, the Hugo N. Surmonte Marital Trust, and the Estate of Marie G. Surmonte as of July 14, 2003 and pursuant to an order entered by the Superior Court of New Jersey, Chancery Division Probate Part, for Monmouth County.
- [F2]As consideration for the shares purchased from Ms. Tischio, Ms. Kostelni has agreed to pay all of the federal and state and inheritance taxes (plus interest and penalties and including the fees and expenses of the executors and other related expenses) (the "Estate Tax Obligations") due and owing with respect to the Estate of Marie G. Surmonte. As of the effective date of the transaction, the Estate Tax Obligations were approximately $670,000, of which approximately $335,000 (or $0.795 per share) is allocable to the shares purchased from Ms. Tischio. Because the exact amount of the Estate Tax Obligations cannot be determined until the obligations are paid in full, the exact purchase price cannot be determined as of the filing of this report. Ms. Kostelni will obtain the funds necessary for the purchase of the shares from the reporting person, and, upon the payment in full of the Estate Tax Obligations, has agreed to transfer the shares to the reporting person.
- [F3]The reporting person disclaims beneficial ownership of 20,700 of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F4]Effective on July 14, 2003 and pursuant to the order referenced in footnote 1 above, (i) the Marie Surmonte Limited Power of Appointment Generation Skipping Trust f/b/o Dolores S. Kostelni ("Trust #1") received a distribution of 47,700 shares of Bontex common stock from the Hugo N. Surmonte Residuary Trust and a distribution of 36,087 shares of Bontex common stock from the Hugo H. Surmonte Marital Trust, and (ii) the Trust Under the Last Will and Testament of Marie G. Surmonte f/b/o Dolores S. Kostelni ("Trust #2") received a distribution of 337,754 shares of Bontex common stock from the Estate of Marie G. Surmonte. Trust #1 and Trust #2 are for the benefit of the reporting person's spouse.
- [F5]The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F6]Ms. Kostelni's agreement to pay the Estate Tax Obligations is secured, by among other things, a pledge of the aggregate of 843,042 shares of Bontex common stock acquired, directly or indirectly, by the reporting person as described in footnotes 1 and 4 above.
- [F7]The reporting person also directly holds 64,240 shares of Bontex common stock.
Documents
Issuer
BONTEX INC
CIK 0000041052
Entity typeoperating
IncorporatedVA
Related Parties
1- filerCIK 0000041052
Filing Metadata
- Form type
- 4
- Filed
- Jul 15, 8:00 PM ET
- Accepted
- Jul 16, 2:12 PM ET
- Size
- 11.2 KB