Sunbelt Clothing Company, Inc., f.k.a. Unprinted T-Shirt Warehouse, Inc. - Page 3

                                        - 3 -                                         

               Petitioner's original shareholders and their respective                
          shareholdings were:                                                         

          Shareholder          Shareholdings                                          
          Daniel A. Bennett        45 shares                                          
          William P. Wylie         15 shares                                          
          John T. Wylie            15 shares                                          
          William W. Robbins       10 shares                                          
          James B. Morris               15 shares                                     

               Petitioner's original plan to issue 10 shares of stock to              
          William W. Robbins and 15 shares of stock to James B. Morris was            
          canceled due to their desire to cease active participation in               
          petitioner.  During petitioner's first year of operations, Mr.              
          Bennett hired Mr. Sokol as an employee to help him with the                 
          business.  On June 29, 1979, Mr. Sokol became a shareholder in              
          petitioner by purchasing 15 shares of stock from Mr. Bennett and            
          obtaining 15 treasury shares from petitioner.  As a result of               
          these transactions, Mr. Sokol and Mr. Bennett each became a one-            
          third shareholder of petitioner.  The final one-third was held by           
          John T. Wylie and his son, William.  With the exception of Mr.              
          Wylie and his son, none of petitioner's shareholders were related           
          to one another through blood or marriage.  On December 31, 1982,            
          the stock of William P. Wylie and John T. Wylie was redeemed by             
          petitioner.  After that redemption, Messrs. Bennett and Sokol               
          became equal shareholders in petitioner.                                    

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011