X0303 4 2003-06-26 0001093273 MAGNA ENTERTAINMENT CORP MECA 0001289643 GLG Partners LP 1 CURZON STREET LONDON X0 W1J 5HB UNITED KINGDOM 0 0 1 0 0001417841 GLG Partners LTD C/O GLG PARTNERS LP 1 CURZON STREET LONDON X0 W1J 5HB 0 0 1 0 0001365790 GLG Partners, Inc. 390 PARK AVENUE, 20TH FLOOR NEW YORK NY 10022 0 0 1 0 Class A Subordinated Voting Stock 2003-06-26 4 S 0 116701 5.06 D 0 I see note Class A Subordinated Voting Stock 2003-06-27 4 S 0 100000 4.99 D 0 I see note Class A Subordinated Voting Stock 2003-07-02 4 S 0 33299 4.91 D 0 I see note Class A Subordinated Voting Stock 2003-12-19 4 S 0 100000 5.59 D 0 I see note Class A Subordinated Voting Stock 2004-01-05 4 S 0 100000 5.06 D 0 I see note Class A Subordinated Voting Stock 2004-01-14 4 S 0 100000 5.54 D 0 I see note Class A Subordinated Voting Stock 2004-01-27 4 S 0 32500 5.89 D 0 I see note Class A Subordinated Voting Stock 2004-02-12 4 S 0 37200 5.29 D 0 I see note Class A Subordinated Voting Stock 2004-02-13 4 S 0 34500 5.24 D 0 I see note Class A Subordinated Voting Stock 2004-04-12 4 S 0 100000 6.09 D 0 I see note Class A Subordinated Voting Stock 2004-06-24 4 S 0 49500 5.26 D 0 I see note Class A Subordinated Voting Stock 2004-07-02 4 S 0 50000 6.22 D 0 I see note Class A Subordinated Voting Stock 2004-09-07 4 P 0 100000 6.00 A 100000 I see note Class A Subordinated Voting Stock 2004-11-02 4 S 0 36000 5.28 D 64000 I see note Class A Subordinated Voting Stock 2004-11-03 4 S 0 64000 4.76 D 0 I see note Class A Subordinated Voting Stock 2005-02-11 4 S 0 200 5.68 D 0 I see note Class A Subordinated Voting Stock 2005-02-11 4 P 0 50000 5.73 A 50000 I see note Class A Subordinated Voting Stock 2005-03-10 4 S 0 38500 6.399 D 1500 I see note Class A Subordinated Voting Stock 2005-03-10 4 S 0 10000 6.60 D 0 I see note Class A Subordinated Voting Stock 2005-03-11 4 S 0 2800 6.55 D 0 I see note Class A Subordinated Voting Stock 2005-03-11 4 P 0 1500 6.65 A 1500 I see note Class A Subordinated Voting Stock 2005-08-04 4 S 0 100000 6.75 D 0 I see note Class A Subordinated Voting Stock 2005-09-14 4 S 0 100000 6.69 D 0 I see note Class A Subordinated Voting Stock 2005-12-02 4 S 0 141800 7.58 D 0 I see note Class A Subordinated Voting Stock 2005-12-28 4 S 0 80000 7.25 D 0 I see note Class A Subordinated Voting Stock 2005-12-29 4 S 0 62300 7.22 D 0 I see note Class A Subordinated Voting Stock 2005-12-30 4 S 0 57700 7.16 D 0 I see note Class A Subordinated Voting Stock 2006-03-31 4 S 0 100000 6.708 D 0 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2004-02-11 4 P 0 25000000.00 26500000.00 A 2004-02-11 2010-06-15 Class A Subordinated Voting Stock 3546100 70000000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2005-12-02 4 P 0 2000000.00 2317780.00 A 2005-12-02 2010-06-15 Class A Subordinated Voting Stock 283688 72000000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-05-02 4 P 0 150000.00 157500.00 A 2006-05-02 2010-06-15 Class A Subordinated Voting Stock 21277 72150000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-05-03 4 P 0 738000.00 774900.00 A 2006-05-03 2010-06-15 Class A Subordinated Voting Stock 104681 72888000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-05-18 4 P 0 1000000.00 1032500.00 A 2006-05-18 2010-06-15 Class A Subordinated Voting Stock 141844 73888000.00 I see note Call Option (obligation to sell) 7.50 2006-05-30 4 S 0 355 90.00 D 2006-05-30 2007-01-18 Class A Subordinated Voting Stock 35500 0 I see note Call Option (obligation to sell) 7.50 2006-05-31 4 S 0 10 90.00 D 2006-05-31 2007-01-18 Class A Subordinated Voting Stock 1000 0 I see note Call Option (obligation to sell) 7.50 2006-06-01 4 S 0 231 90.00 D 2006-06-01 2007-01-18 Class A Subordinated Voting Stock 23100 0 I see note Call Option (obligation to sell) 7.50 2006-06-02 4 S 0 20 100.00 D 2006-06-02 2007-01-18 Class A Subordinated Voting Stock 2000 0 I see note Call Option (obligation to sell) 7.50 2006-06-05 4 S 0 10 90.00 D 2006-06-05 2007-01-18 Class A Subordinated Voting Stock 1000 0 I see note Call Option (obligation to sell) 7.50 2006-06-08 4 S 0 10 90.00 D 2006-06-08 2007-01-18 Class A Subordinated Voting Stock 1000 0 I see note Call Option (obligation to sell) 7.50 2006-06-09 4 S 0 35 90.00 D 2006-06-09 2007-01-18 Class A Subordinated Voting Stock 3500 0 I see note Call Option (obligation to sell) 7.50 2006-06-13 4 S 0 35 62.86 D 2006-06-13 2007-01-18 Class A Subordinated Voting Stock 3500 0 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-10-18 4 S 0 3700000.00 3885000.00 D 2010-06-15 Class A Subordinated Voting Stock 524823 70188000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-10-19 4 S 0 2000000.00 2100000.00 D 2010-06-15 Class A Subordinated Voting Stock 283688 68188000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2006-11-02 4 S 0 2800000.00 2895620.00 D 2010-06-15 Class A Subordinated Voting Stock 397163 65388000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2007-02-23 4 S 0 2000000.00 2020000.00 D 2010-06-15 Class A Subordinated Voting Stock 283688 63388000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2007-02-26 4 S 0 2500000.00 2525000.00 D 2010-06-15 Class A Subordinated Voting Stock 354610 62888000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2007-02-26 4 P 0 2500000.00 2525250.00 A 2010-06-15 Class A Subordinated Voting Stock 354610 65388000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2007-06-29 4 S 0 1000000.00 982500.00 D 2010-06-15 Class A Subordinated Voting Stock 141844 64388000.00 I see note 8.55% Convertible Subordinated Notes due 2010 7.05 2007-06-29 4 P 0 1000000.00 982600.00 A 2010-06-15 Class A Subordinated Voting Stock 141844 65388000.00 I see note The Reporting Persons' transactions in the Issuer's securities as reported on this Form 4 involved short-swing transactions that are subject to liability under Section 16(b) of the Securities Exchange Act of 1934, as amended. As a result, the Reporting Persons have paid $150,080 to the Issuer, which represents the entire amount of profit realized on their pecuniary interest in these short-swing transactions. GLG Partners LP, an English limited partnership, acts as the investment manager for certain funds which hold common stock, convertible subordinated notes and call options of the issuer. GLG Partners LP, an English limited partnership, acts as the investment manager of certain funds and may be deemed to be the beneficial owner of the Issuer's securities held by such funds. GLG Partners Limited, an English limited company, is the general partner of GLG Partners LP. GLG Partners, Inc. indirectly wholly owns GLG Partners Limited. GLG Partners LP, GLG Partners Limited and GLG Partners, Inc. do not hold directly any of the Issuer's securities or derivative securities with respect thereto, and disclaim any beneficial ownership of any of the Issuer's securities reported or excluded herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended, except for their pecuniary interest therein. This transaction was executed in multiple trades at prices ranging from $6.38 to $6.42. The price reported above represents the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $6.75 to $6.80. The price reported above represents the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades of prices ranging from $7.22 to $7.26. The price reported above represents the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades of prices ranging from $6.70 to $6.75. The price reported above represents the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The 8.55% Convertible Subordinated Notes due 2010 were convertible into Class A Subordinated Voting Stock at any time. Due to system limitations for reporting transactions via EDGAR on Form 4, this Form 4 is the first of two forms filed for the reporting persons covering transactions reported for the period June 16, 2003 through June 29, 2007. GLG PARTNERS LP, By: GLG Partners Limited, as its General Partner, By: /s/ Victoria Parry, Senior Legal Counsel 2009-01-08 GLG PARTNERS LP, By: GLG Partners Limited, as its General Partner, By: /s/ Emmanuel Roman, Managing Director 2009-01-08 GLG Partners Inc., By: /s/ Alejandro R. San Miguel, General Counsel and Corporate Secretary 2009-01-08