4//SEC Filing
Tang Jun 4
Accession 0001144204-10-067249
CIK 0001287668other
Filed
Dec 16, 7:00 PM ET
Accepted
Dec 17, 6:43 PM ET
Size
21.3 KB
Accession
0001144204-10-067249
Insider Transaction Report
Form 4
First Jet Investment Ltd
10% Owner
Transactions
- Sale
Common Stock
2010-12-09$0.55/sh−6,000,000$3,300,000→ 19,000,000 total
Leung Alan
DirectorCHIEF EXECUTIVE OFFICER10% Owner
Transactions
- Sale
Common Stock
2010-12-09$0.55/sh−6,000,000$3,300,000→ 19,000,000 total
Tang Jun
Director10% Owner
Transactions
- Sale
Common Stock
2010-12-09$0.55/sh−6,000,000$3,300,000→ 19,000,000 total
Gaotime Corp Ltd
10% Owner
Transactions
- Sale
Common Stock
2010-12-09$0.55/sh−6,000,000$3,300,000→ 19,000,000 total
Footnotes (2)
- [F1]On December 9, 2010, the Reporting Person effected a transfer of a total of 6,000,000 shares of common stock of the Issuer to three purchasers in a private sales transaction at a per share sales price of $0.55, for aggregate proceeds of $3.3 million. In connection with the sale, the Reporting Person granted a single put option to each of the purchasers that becomes exercisable beginning on the date that is six months from the date of transfer and remains exercisable for the three-month period thereafter pursuant to which each and any of the purchasers may require the Reporting Person to purchase back from the purchasers the shares not yet disposed by the purchasers at $0.55 per share. Under certain events, the purchasers may require the Reporting Person to purchase back the shares earlier, beginning on February 28, 2011. First Jet Investments Limited is the wholly owned subsidiary of Gaotime Corporation Limited as of September 1, 2010, (Continued in Footnote 2)
- [F2]after Mr. Jun Tang transferred 100% of the equity interest in First Jet Investments Limited to Gaotime Corporation Limited, which was owned by Mr. Jun Tang and Wing Lun (Alan) Leung in the amounts of approximately 72% and 11%, respectively, as of such transfer. On December 15, 2010, Mr. Leung transferred his 11% interest in Gaotime to Mr. Tang, resulting in Mr. Tang owning 83% of Gaotime. Mr. Tang is the Chairman of the Board of Directors of the Issuer and Mr. Leung is the Chief Executive Officer of the Issuer. Mr. Leung and Mr. Tang are each also a director of Gaotime Corporation Limited. Due to Mr. Tang's ownership interest in Gaotime and position, he may be deemed to be a beneficial owner of the shares of the Issuer held by First Jet Investments Limited. Mr. Tang disclaims beneficial ownership of the shares of the Issuer held by First Jet Investments Limited except to the extent of his pecuniary interest.
Documents
Issuer
China Architectural Engineering, Inc.
CIK 0001287668
Entity typeother
Related Parties
1- filerCIK 0001499644
Filing Metadata
- Form type
- 4
- Filed
- Dec 16, 7:00 PM ET
- Accepted
- Dec 17, 6:43 PM ET
- Size
- 21.3 KB