SEC Form 3 · accession 0001140361-16-072541
China Lending Corp · CLDC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jianfeng Zhang
Officer — Vice President
Period of report
Jul 6, 2016
Accepted (ET)
Jul 15, 2016 · 11:02 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001611852
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1,F2 | holding | — | — | — | 333,334 | I | By Tavistock Global Limited |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Pursuant to the Business Combination and Share Exchange Agreement, dated January 11, 2016, among the Issuer and Adrie Global Holdings Limited ("Adrie"), each of Adrie's shareholders, DeTiger Holdings Limited and Li Jingping, as representative to the shareholders of Adrie, 8 million of the 20 million ordinary shares issued to Adrie's shareholders in the Business Combination are held in escrow and are subject to forfeiture in the event that the Issuer fails to meet certain minimum financial performance targets or in the event that DeTiger Holdings Limited successfully brings an indemnification claim under the Share Exchange Agreement. The number of ordinary shares held by Tavistock Global Limited includes 133,334 ordinary shares held in escrow. If at any point, the shares in escrow are forfeited, an appropriate amendment will be filed with the Securities and Exchange Commission to reflect such change in ownership.
- F2Shares held by Tavistock Global Limited. The reporting person is the sole director and 100% owner of Tavistock Global Limited.