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Entertainment Gaming Asia Inc. Message Board

  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Nov 22, 2006 1:29 PM Flag

    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

    Here is what I could find in the PRE14A filing ( http://www.sec.gov/Archives/edgar/data/1004673/000114420406048704/v058317_pre14a.htm
    ) has about the beneficial ownership of the President as of October 31, 2006 ("The beneficial ownership of each person was calculated based on 29,015,099 shares of our common stock outstanding as of October 31, 2006, according to the record ownership listings as of that date and the verifications we solicited and received from each director and executive officer."):

    Mark R. Newburg 2,292,252(4) 7.6%

    (4) Includes 233,666 shares issuable upon the exercise of stock options and 2,058,586 shares over which Mr. Newburg exercises sole voting control pursuant to a Voting Trust Agreement dated August 28, 2006, by and among Mr. Newburg and the Triage entities.


    I would guess that the President did not have to pay cash to acquire the stock options for 233,666 shares. Did he pay cash for any of the 2,058,586 shares? In http://www.sec.gov/Archives/edgar/data/1004673/000114420406042161/v054384.htm is found, "Item 3. Source and Amount of Funds or Other Consideration.

    The Reporting Person acquired a beneficial interest in 2,058,586 shares of common stock of the Issuer by virtue of being granted sole voting power over such securities as Trustee pursuant to a Voting Trust Agreement dated August 28, 2006. The Reporting Person did not purchase these securities and his only interest in such securities is the right to vote such securities."

    The answer seems to be, "No."

    I believe that as of October 31, 2006, the President had no common stock beneficial ownership for which he had paid cash. Am I wrong? Do my posts bore the board? Is everyone asleep yet, or do I need to post more to cure you of your insomnia?

 
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