BAISEITOV BAKHYTBEK R 4
4 · CASPIAN SERVICES INC · Filed Jul 6, 2011
Insider Transaction Report
Form 4
BAISEITOV BAKHYTBEK R
10% Owner
Transactions
- Other
Common Stock
2011-07-01$2.30/sh+9,178,133$21,109,706→ 18,576,467 total
Footnotes (2)
- [F1]Such beneficial ownership is through convertible debt directly held by the Reporting Person. The convertible debt was originally issued by the Issuer pursuant to a) a Facility Agreement between the Issuer and Altima Central Asia Master (Fund) Ltd. dated 20 June 2008, and b) a Facility Agreement between the Issuer and Great Circle Energy Services, LLC. dated September 3, 2008. The Facility Agreements have been acquired by the Reporting Person. Each Facility Agreement provides that the debt is convertible at a fixed price of $2.30 per share.
- [F2]The Great Circle Facility Agreement was assigned to the Reporting Person as of the transaction date. The number of shares underlying the Great Circle Facility Agreement was determined as of the transaction date and assumes the full amount of the outstanding balance of the loan would be converted. The number of shares issuable upon conversion will increase as interest continues to accrue pursuant to the Facility Agreement.