BJH MANAGEMENT LLC 4
4 · EMERGENT GROUP INC/NY · Filed Jul 2, 2003
Insider Transaction Report
Form 4
No transactions or holdings reported in this filing.
Footnotes (2)
- [F1]In June 2003, Mr. Haber purchased promissory notes from the Issuer in the principal amount of $200,000. The notes which are currently not convertible automatically convert on the effective date of a proposed one-for-40 reverse stock split. The Issuer intends to mail an Information Statement to stockholders to take action by majority consent in lieu of a meeting with a proposed effective date of the reverse stock split of August 29, 2003. The Board of Directors of the Issuer has sufficient votes to enact the reverse stock split. In column 9, Mr. Haber's 20,000,000 pre-split shares are equivalent to 500,000 post-split shares and the 12,121,211 shares are equivalent to 303,031 shares. In column 10, the 32,121,211 shares are equivalent to 803,031 post-split shares.
- [F2]These rights will be granted to BJH Management LLC, which is owned by Mr. Haber, upon receipt of stockholder approval of the reverse stock split and shall become immediately exercisable through the expiration date of January 31 2004.