(Ptc) Inc. Accolade, a major owner of Emerson Radio Corporation, recently cashed-in 0 options. The options were exercised at $0.00. on dates ranging from June 28 to August 15, 2016. Accolade continues to hold 15,243,283 shares of the company. Accolade operates out of Kowloon, K3. Some additional info was provided as follows:
The shares of issuer are owned directly by S&T International Distribution Ltd., which is a wholly owned subsidiary of Grande N.A.K.S. Ltd., which is a wholly owned subsidiary of The Grande Holdings Limited. On June 28, 2016, Barrican Investments Corporation acquired McVitie Capital Limited. McVitie Capital Limited held on that date, and continues to hold as of the date of this filing, approximately 1.275% of The Grande Holdings Limited. Barric
an Investments Corporation is a wholly owned subsidiary of Airwave Capital Limited, which is a wholly owned subsidiary of The Ho Family Trust Limited, which is a wholly owned subsidiary of the Ho Family Trust. Accolade (PTC) Inc. is the trustee of the Ho Family Trust.
(Continued from Footnote 1) As a result of the acquisition of McVitie Capital Limited by Barrican Investments Corporation, the Ho Family Trust's pecuniary interest in the shares of issuer increased.
On July 27, 2016 and August 15, 2016, Mr. Christopher Ho inherited 5,738,016 shares and 700,000 shares, respectively, of The Grande Holdings Limited, constituting approximately 0.12% in the aggregate of The Grande Holdings Limited. On the respective dates of inheritance, Mr. Christopher Ho transferred to Barrican Investments Corporation all such inherited shares of The Grande Holdings Limited. As a result of such transfers, the Ho Family Trust's pecuniary interest in the shares of issuer increased.
(Continued from Footnote 2) Accolade (PTC) Inc. disclaims any pecuniary interest in the shares owned by S&T International Distribution Ltd.
Mr. Ho is a discretionary beneficiary of the Ho Family Trust, Chief Executive Officer of The Ho Family Trust Limited and the Chairman of the Board of issuer and may be deemed to share beneficial ownership of the shares owned by S&T International Distribution Ltd. Mr. Ho disclaims beneficial ownership of the shares owned by S&T International Distribution Ltd. The filing of this statement shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, Mr. Ho is the beneficial owner of equity securities described in this statement as indirectly owned.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Emerson Radio Corporation makes a similar move, sign up!
Other recent filings from the company include the following:
Submission of Matters to a Vote of Security - March 25, 2019