3//SEC Filing
EQUIDYNE CORP 3
Accession 0001085037-04-000949
CIK 0000352281operating
Filed
Aug 30, 8:00 PM ET
Accepted
Aug 31, 1:45 PM ET
Size
8.6 KB
Accession
0001085037-04-000949
Insider Transaction Report
Form 3
EQUIDYNE CORPIJX (Amex)
MFC BANCORP LTD
10% Owner
Holdings
- 3,738,044(indirect: By Sutton Park International Limited)
common stock, par value $0.10 per share
- (indirect: By MFC Merchant Bank SA)
Convertible Note
From: 2004-04-01Exp: 2009-03-31→ Common stock, par value $0.10 per share
Footnotes (5)
- [F1]Sutton Park International Limited, a corporation organized under the laws of Barbados, is wholly-owned by the Reporting Person.
- [F2]Pursuant to a credit facility agreement (the "Credit Facility Agreement") dated for reference April 1, 2004 between the Reporting Person and the Issuer, MFC Merchant Bank SA ("MFC Merchant Bank") and the Isuser, MFC Merchant Bank will make available to the Issuer, subject to the terms and conditions of the Credit Facility Agreement, until March 31, 2009, a revolving credit facility (the "Credit Facility") in the principal amount of up to $20,000,000 (the"Commitment"). As part of MFC Merchant Bank's compensation for the services to be performed by it under the Credit Facility Agreement, MFC Merchant Bank may at any time and from time to time during the term of the Agreement convert the Commitment or any portion of the Credit Facility to shares of common stock of the Issuer. (footnote continued)
- [F3](footnote continued) MFC Merchant Bank is not entitled to exercise rights that will cause it to own or control greater than 19.99% of the voting control of the Issuer until such time as the Issuer has received shareholder approval to do so. On August 24, 2004, upon MFC Merchant Bank exercising its conversion rights under the Credit Facility Agreement and converted $1,575,000 of the Commitment at a rate of exchange of $0.50 per share, the Issuer issued to MFC Merchant Bank 3,150,000 shares in the common stock and pursuant to a transfer agreement dated August 24, 2004 beween MFC Merchant Bank and Sutton Park International Limited, MFC Merchant Bank transferred its 3,150,000 shares to Sutton Park International Limited at the same price of $0.50 per share for a total price of $1,575,000.
- [F4]The rate of exchange for purposes of calculating the number of shares in the common stock of the Issuer to be exchanged for the Commitment or a portion should be as follows: (amount of Commitment to be converted) divided by (the ten day average of the closing price of the stock of the Issuer).
- [F5]MFC Merchant Bank SA, a bank organized under the laws of Switzerland, is wholly-owned by the Reporting Person.
Documents
Issuer
EQUIDYNE CORP
CIK 0000352281
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000352281
Filing Metadata
- Form type
- 3
- Filed
- Aug 30, 8:00 PM ET
- Accepted
- Aug 31, 1:45 PM ET
- Size
- 8.6 KB