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a. MGM owed the banks $294,809,215 and owed the holders of
the MGM Notes approximately $400 million.
b. Public shareholders (i.e., shareholders other than
Kerkorian and Tracinda) owned 24,839,712 shares (49.9 percent) of
the 49,745,137 outstanding shares of stock of MGM.
c. Tracinda owned 22,973,585 shares (46.2 percent) of the
stock of MGM.
d. Kerkorian owned 1,931,840 shares (3.9 percent) of the
stock of MGM.
e. MGM owned all the UA stock, which had been recapitalized
to have the same number of outstanding shares as MGM.
f. TBS had raised $1,203,257,700 cash and had arranged to
issue 49,745,137 shares of TBS Preferred Stock.
g. Tracinda had received in escrow $64,533,655 from the
Subscribing Public on or prior to November 26, 1985, as the
subscription price for 7,029,810 shares of UA stock they had
subscribed to purchase from Tracinda for $9.18 per share.10
h. The UA Executive Stock Purchase Agreements, pertaining
to the sale of 3,200,000 shares of UA stock to UA executives, had
been executed.
10Tracinda bore the expenses of its offering of UA shares to
the subscribing public shareholders that were estimated to be
$1,265,365 ($.18 per share) in the UA Prospectus.
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