NF Energy Saving Corp 4
4 · NF Energy Saving Corp · Filed May 8, 2015
Insider Transaction Report
Form 4
GANG LI
DirectorPresident and CEO10% Owner
Transactions
- Other
Common Stock
2015-05-07$2.06/sh+667,314$1,374,667→ 2,699,409 total(indirect: By Liaoning Nengfa Weiye New Energy Application Co., Ltd.)
Footnotes (1)
- [F1]On May 7, 2015, Cloverbay International Limited ("Cloverbay") convert an aggregate of $1,718,333.33 of principal amount of debt plus accrued and unpaid interest thereon into 834,142 shares of the Issuer's common stock at a conversion rate of $2.06 per share. Cloverbay is a wholly-owned subsidiary of Liaoning Nengfa Weiye New Energy Application Co., Ltd. ("Weiye Energy"). Weiye Energy is owned 80% by the Reporting Person and 20% by Lihua Wang, Chief Financial Officer and a director of the Issuer. The shares of common stock owned by Weiye Energy are deemed to be indirectly, beneficially owned by the Reporting Person and Ms. Wang. The shares indicated in this report represent the beneficial, pecuniary interest of the Reporting Person being acquired.