Saouma Michel 4
4 · MEDIANET GROUP TECHNOLOGIES INC · Filed Jun 24, 2010
Insider Transaction Report
Form 4
Saouma Michel
10% Owner
Transactions
- Purchase
Series A Convertible Preferred Stock
2009-12-24+100,000→ 100,000 total(indirect: See Note)→ Common Stock (5,472,297 underlying) - Disposition to Issuer
Series A Convertible Preferred Stock
2010-05-24−22,839→ 77,161 total(indirect: See Note)→ Common Stock (1,249,818 underlying) - Expiration (Short)
Series A Convertible Preferred Stock
2010-05-24−77,161→ 0 total(indirect: See Note)→ Common Stock (4,222,498 underlying) - Expiration (Short)
Series A Convertible Preferred Stock
2009-12-24−100,000→ 0 total(indirect: See Note)→ Common Stock (5,382,297 underlying) - Purchase
Series A Convertible Preferred Stock
2010-05-24+77,161→ 77,161 total(indirect: See Note)→ Common Stock (4,283,579 underlying)
Footnotes (5)
- [F1]The shares of Series A Convertible Preferred Stock (the "Preferred Stock") are automatically convertible without additional consideration into shares of Common Stock of MediaNet Group Technologies, Inc. (the "Company") upon the Company's amendment of its Articles of Incorporation to increase the authorized number of shares of its Common Stock to 500 million. The Series A Preferred Stock does not have an expiration date.
- [F2]On December 24, 2009, the rate at which the Preferred Stock was convertible into Common Stock was amended from 53.8229736 shares of Common Stock for each share of Preferred stock (the "Original Conversion Ratio") to 54.7229736 shares of Common Stock for each share of Preferred Stock (the "December 2009 Conversion Ratio"). The amendment is being reported above as the cancellation of the shares of Preferred Stock with the Original Conversion Ratio and the acquisition of new shares of Preferred Stock with the December 2009 Conversion Ratio.
- [F3]As of December 24, 2009, the date of the amendment of the Certificate of Designation to provide for the December 2009 Conversion Ratio, Mr. Saouma had a 2.00% pecuniary interest in the assets of Zen Holding Group Limited ("Zen"). As of such date, Zen held of record 5 million shares of the Preferred Stock. Mr. Saouma has the indirect shared right to vote and make investment decisions with respect to Zen.
- [F4]As of May 24, 2010, Mr. Saouma had a 2.00% pecuniary interest in the assets of Zen. As of such date, Zen transferred to the Company 1,141,933 shares of Preferred Stock and, accordingly, Zen held of record 3,858,067 shares of the Preferred Stock.
- [F5]On May 24, 2010, the rate at which the Preferred Stock was convertible into Common Stock was amended from the December 2009 Conversion Ratio to 55.514574 shares of Common Stock for each share of Preferred Stock (the "May 2010 Conversion Ratio"). The amendment is being reported above as the cancellation of the shares of Preferred Stock with the December 2009 Conversion Ratio and the acquisition of new shares of Preferred Stock with the May 2010 Conversion Ratio.