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As of June 1, 1990, the father’s estate, the mother’s
estate, and the trusts collectively owned 3,188.55 preferred
shares in petitioner. Over the period covering its 1991 through
1999 fiscal years, petitioner redeemed 878.55 of these 3,188.55
shares as follows:
Number of Price
FYE May 31 Shares Redeemed Total Payment Per Share
1991 58.55 $104,512 $1,785.00
1992 45.00 83,026 1,845.02
1993 347.00 649,230 1,870.98
1994 112.00 218,354 1,949.59
1995 157.00 316,575 2,016.40
1996 125.00 258,420 2,067.36
1997 -- -- --
1998 19.00 41,325 2,175.00
1999 15.00 33,975 2,265.00
As of June 30, 1990, and May 31, 1999, legal title to
petitioner’s outstanding preferred shares was held as follows:
Holder June 30, 1990 May 31, 1999
Mr. Wechsler’s father’s 3,188.55 2,310.00
and mother’s estates
Mr. Wechsler 1,549.75 1,549.75
Mr. Glickman 140.00 140.00
Mr. Zeeman or his estate1 70.00 70.00
Total 4,948.30 4,069.75
1 Mr. Zeeman died on Apr. 27, 1999.
From September 3, 1999, through December 6, 2000, petitioner
redeemed another 200 of the 3,185.55 preferred shares that Mr.
Wechsler’s father previously had owned as follows:
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