Yang Xiang Dong 4
4 · Sinoenergy CORP · Filed Sep 29, 2010
Insider Transaction Report
Form 4
Sinoenergy CORPSNEN
Yang Xiang Dong
Director10% Owner
Transactions
- Sale
3% Guaranteed Senior Convertible Notes due 2012
2010-09-28$13092151.00/sh→ 0 total(indirect: See Footnote)Exercise: $3.17→ Common Stock (2,933,778 underlying)
Footnotes (3)
- [F1]Abax Nai Xin A Ltd. directly owned Convertible Notes in principal amount of $7,200,000. Abax Jade Ltd. directly owned Convertible Notes in principal amount of $2,100,000. The Convertible Notes are convertible, at any time, into the Issuer's common stock (the "Common Stock") and mature on September 28, 2012. The initial conversion rate for each $100,000 principal amount of Convertible Notes was 31,546 shares of Common Stock subject to adjustment pursuant to the terms of the Indenture governing the Convertible Notes.
- [F2]The Common Stock and Convertible Notes may be deemed to have been beneficially owned indirectly by: Abax Global Opportunities Fund (the "Fund"), which is the sole shareholder of each of Abax Nai Xin A Ltd. and Abax Jade Ltd.; Abax Arhat Fund ("Arhat") and Abax Upland Fund LLC ("Upland"), each of which owns 50% of the Fund; Abax Global Capital (the "Arhat Shareholder"), which is the sole shareholder of Arhat; Abax Claremont Ltd. (the "Upland Managing Member"), which is the managing member of Upland; and Mr. Xiang Dong Yang, who is the controlling member of the Arhat Shareholder and the Upland Managing Member. Each of the foregoing disclaims beneficial ownership except to the extent of its or his pecuniary interest therein. The Common Stock and Convertible Notes were directly owned by Abax Lotus Ltd. (a wholly-owned subsidiary of the Fund) until May 1, 2009, at which time these securities were transferred to Abax Nai Xin A Ltd. and Abax Jade Ltd. for no consideration.
- [F3]Includes interest accrued on the Notes.