4//SEC Filing
SILVERSTAR HOLDINGS LTD 4
Accession 0000910680-08-000046
CIK 0001003390operating
Filed
Jan 22, 7:00 PM ET
Accepted
Jan 23, 4:52 PM ET
Size
13.5 KB
Accession
0000910680-08-000046
Insider Transaction Report
Form 4
KABATZNIK CLIVE
DirectorChief Executive Officer
Transactions
- Conversion
Class B Common Stock
2007-09-06−190,000→ 0 total→ Class A Common Stock (190,000 underlying) - Purchase
Class A Common Stock
2007-09-06$1.45/sh+137,931$200,000→ 320,622 total - Conversion
Class A Common Stock
2007-09-06+190,000→ 510,622 total - Purchase
Class A Common Stock Purchase Warrants (right to buy)
2007-09-06$1.45/sh+96,552$140,000→ 96,552 totalExercise: $2.10From: 2008-03-06Exp: 2012-09-06→ Class A Common Stock (96,552 underlying)
Holdings
- 75,000(indirect: By Children)
Class A Common Stock
Footnotes (6)
- [F1]Class A Common Stock and Class B Common Stock are substantially identical except that the holders of Class B Common Stock have five votes per share on each matter considered by shareholders of Silverstar Holdings Ltd. (the "Issuer"). Each share of Class B Common Stock is convertible at any time by the holders of the Class B Common Stock into one share of Class A Common Stock and is automatically convertible into one share of Class A Common Stock upon sale of the Class B Common Stock or death of the holder of the Class A Common Stock.
- [F2]On September 6, 2007 the Issuer completed the second part of a two-part sale of units (the "Units") in a private placement transaction (the "Private Placement") pursuant to a purchase agreement, dated July 2, 2007, by and among the Issuer and the purchasers named therein. Each Unit included one share of Class A Common Stock of the Issuer and a warrant to purchase .70 shares of Class A Common Stock of the Issuer. The sale and issuance of the Units was completed in two closings. The first closing was completed on July 5, 2007 and the second closing was completed on September 6, 2007. The Reporting Person purchased Units in the second closing only.
- [F3]Acquired upon conversion of Class B Common Stock, see note (6) below.
- [F4]The exercise price of the warrants are subject to adjustment for certain dilutive issuances of Common Stock or securities exercisable or convertible into Common Stock.
- [F5]The warrants were included in Units purchased from the Issuer in the Private Placement. The purchase price of each Unit was $1.45.
- [F6]In connection with the closing of the Private Placement, the Reporting Person voluntarily converted each share of Class B Common Stock of the Issuer that it owned into one share of Class A Common Stock of the Issuer on September 6, 2007.
Documents
Issuer
SILVERSTAR HOLDINGS LTD
CIK 0001003390
Entity typeoperating
IncorporatedYukon, Canada
Related Parties
1- filerCIK 0001003390
Filing Metadata
- Form type
- 4
- Filed
- Jan 22, 7:00 PM ET
- Accepted
- Jan 23, 4:52 PM ET
- Size
- 13.5 KB