4//SEC Filing
LI SHAOQING 4
Accession 0001144204-09-046076
CIK 0001327364other
Filed
Aug 26, 8:00 PM ET
Accepted
Aug 27, 5:54 PM ET
Size
7.0 KB
Accession
0001144204-09-046076
Insider Transaction Report
Form 4
LI SHAOQING
10% Owner
Transactions
- Other
Common Stock
2009-08-05$30.00/sh−10,440,000$313,200,000→ 0 total(indirect: Through Long Sunny Limited)
Footnotes (3)
- [F1]On June 9, 2008, pursuant to a reverse merger transaction entered into by and between the Company's wholly-owned subsidiary, Shen Kun Acquisition Sub Limited, and Shen Kun International Limited (the "Reverse Merger"), Long Sunny Limited ("Long Sunny") acquired 17,400,000 shares of the Company's common stock as a result of the Reverse Merger. The Reporting Person's beneficial ownership in the Company is based upon his 60% interest in Long Sunny. Accordingly, 10,440,000 shares of common stock issued to Long Sunny as a result of the consummation of the Reverse Merger was beneficially attributed to the Reporting Person.
- [F2]Pursuant to a call option agreement entered into on June 9, 2008 by and between Wang Chen and the Reporting Person, Wang Chen was granted an option to purchase all of the Reporting Person's stock in Long Sunny at an exercise price of $.01 or $.001 per share, in seven installments, provided that Tianjin Shengkai Industrial Technology Development Co., Ltd., Shengkai (Tianjin) Ceramic Valves Co., Ltd. and Shen Kun generated a gross revenue of at least RMB 1,500,000 per month during the period commencing June 1, 2008 through December 31, 2008 (each monthly period constituting a "Performance Period"), such option being exercisable beginning 45 days after the last date of the Performance Period.
- [F3]As of August 5, 2009, Mr. Wang Chen has exercised his option to purchase all of the Reporting Person's stock. Accordingly, the Reporting Person is no longer deemed to indirectly beneficially own any shares of the common stock of Shengkai Innovations, Inc. through Long Sunny.
Documents
Issuer
Shengkai Innovations, Inc.
CIK 0001327364
Entity typeother
Related Parties
1- filerCIK 0001436863
Filing Metadata
- Form type
- 4
- Filed
- Aug 26, 8:00 PM ET
- Accepted
- Aug 27, 5:54 PM ET
- Size
- 7.0 KB