STRONACH TRUST 4
4 · MAGNA ENTERTAINMENT CORP · Filed Jul 13, 2004
Insider Transaction Report
Form 4
STRONACH TRUST
10% Owner
Transactions
- Purchase
Class A Subordinate Voting Stock
2004-07-12+3,682,515→ 8,063,191 total(indirect: See)
Footnotes (3)
- [F1]The filing of this statement shall not be deemed an admission that the reporting person or any joint filer is, for purposes of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any equity securities covered by this statement. Without limitation of the foregoing, the reporting person and the joint filers disclaim beneficial ownership of such securities for purposes other than US securities law purposes. The reporting person and the joint filers disclaim beneficial ownership of the securities covered by this statement in excess of their pecuniary interests therein.
- [F2]Reflects the acquisition of 3,682,515 shares of Class A Subordinate Voting Stock of the issuer by MI Developments, Inc. ("MID") from Fair Enterprise Limited ("Fair Enterprise") in exchange for the issuance to Fair Enterprise of 707,725 Class A Subordinate Voting Shares of MID (the "MID Shares") and the payment of U.S.$3,292,168.41 in cash. Based on the closing price on July 12, 2004 the MID Shares had a market value of $18,648,553.75.
- [F3]By MID and 865714 Ontario Inc. ("865714"). The Stronach Trust owns 100% of the voting stock of 445327 Ontario Limited ("445327"), which holds a controlling interest in MID. 445327 holds a controlling interest in Magna International Inc., which may be deemed to be the beneficial owner of the shares of Class A Subordinate Voting Stock held by 865714.