4//SEC Filing
FAIR ENTERPRISE LTD 4
Accession 0001169232-04-003630
CIK 0001093273other
Filed
Jul 12, 8:00 PM ET
Accepted
Jul 13, 4:51 PM ET
Size
11.3 KB
Accession
0001169232-04-003630
Insider Transaction Report
Form 4
STRONACH FRANK
DirectorChairman10% Owner
Transactions
- Sale
Class A Subordinate Voting Stock
2004-07-12−3,682,515→ 8,710,481 total(indirect: See)
FAIR ENTERPRISE LTD
10% Owner
Transactions
- Sale
Class A Subordinate Voting Stock
2004-07-12−3,682,515→ 8,710,481 total(indirect: See)
Footnotes (4)
- [F1]The filing of this statement shall not be deemed an admission that the reporting person or the 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 filer disclaim beneficial ownership of such securities for purposes other than US securities law purposes.The reporting person and the joint filer disclaim beneficial ownership of the securities covered by this statement in excess of their pecuniary interests therein.
- [F2]Reflects the disposition of 3,682,515 shares of Class A Subordinate Voting Stock of the issuer by Fair Enterprise Limited ("Fair Enterprise"),a corporation in which the reporting person has an indirect beneficial interest,to MI Developments,Inc.("MID") 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]The Stronach Trust, of which the reporting person is a trustee and of which the reporting person and certain members of his immediate family are beneficiaries,owns 100% of the voting stock of 445327 Ontario Limited ("445327"),which holds a controlling interest in MID. The reporting person may be deemed to have both disposed of and acquired a portion of the securities that are the subject of this statement.
- [F4]By MID, 865714 Ontario Inc. and certain profit sharing plans associated with Magna International Inc.
Issuer
MAGNA ENTERTAINMENT CORP
CIK 0001093273
Entity typeother
Related Parties
1- filerCIK 0000949334
Filing Metadata
- Form type
- 4
- Filed
- Jul 12, 8:00 PM ET
- Accepted
- Jul 13, 4:51 PM ET
- Size
- 11.3 KB