4 1 file001.txt FORM 4 FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Aitken, Timothy M. ----------------------------------------------------- (Last) (First) (Middle) Allied Healthcare International Inc. 555 Madison Avenue, 30th Floor ----------------------------------------------------- (Street) New York, New York 10022 ----------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol Allied Healthcare International Inc. ------------------------------------------------------------------------------- 3. IRS or Social Security Number of Reporting Person (Voluntary) ------------------------------------------------------------------------------- 4. Statement for Month/Year July 2002 ------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) ------------------------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [X] Director [ ] 10% Owner [X] Officer (give title below) [ ] Other (specify below) Chairman of the Board and Chief Executive Officer ------------------------------------------------- ------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check applicable line) [X] Form Filed by One Reporting Person [ ] Form Filed by More than One Reporting Person -------------------------------------------------------------------------------
TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned --------------------------------------------------------------------------------------------------------------------------------- 5. Amount of 6. Owner- Securities ship 2. Trans- 3. Trans- 4. Securities Acquired (A) Beneficially Form: action action or Disposed of (D) Owned at Direct 7. Nature of Date Code (Instr. 3, 4 and 5) End of (D) or Indirect 1. Title of Security (Month/ (Instr. 8) -------------------------- Month Indirect Beneficial (Instr. 3) Day/ ---------- Amount (A) or Price (Instr. (I) Ownership Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4) --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (over) * If the form is filed by more than one person, see instruction 4(b)(v).
FORM 4 (continued)
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g. puts, calls, warrants, options, convertible securities) ----------------------------------------------------------------------------------------------------------------------------------- 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. ----------------------------------------------------------------------------------------------------------------------------------- Title and Ownership Number of Date Exer- Amount of Form of Derivative cisable and Underlying Number of Deriv- Securities Expiration Securities Price Derivative ative Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security: sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership (Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4) ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Series A Convertible Preferred Common Stock 1-for-1 7/25/02 J(1) 87,200 Immed. 12/17/08 Stock 87,200 $4.52(2) 87,200 D ------------------------------------------------------------------------------------------------------------------------------------ Series A Convertible Preferred Common Stock 1-for-1 7/25/02 J(1) 87,200 Immed. 12/17/08 Stock 87,200 $4.52(2) 87,200 I (3) ------------------------------------------------------------------------------------------------------------------------------------ Right to Funding Common Note (4) 7/25/02 J(1) 11,367 Immed. None Stock 11,367 (4) 11,367 D ------------------------------------------------------------------------------------------------------------------------------------ Right to Funding Common Note (4) 7/25/02 J(1) 11,366 Immed. None Stock 11,366 (4) 11,366 I (3) -----------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: (1) On July 25, 2002, Allied Healthcare International Inc. (the "Company") consummated a Reorganization (the "Reorganization") involving the Company and two of its U.K. subsidiaries, Allied Healthcare Group Limited ("Allied Healthcare (UK)") and Transworld Healthcare (UK) Limited ("TWUK"). In the Reorganization, equity interests in TWUK and subordinated promissory notes (and payment in kind interest thereon) of Allied Healthcare (UK) were exchanged for (a) shares of Common Stock of the Company, (b) shares of Series A Convertible Preferred Stock of the Company or (c) the right to receive funding notes of Allied Healthcare (UK), which funding notes are convertible into shares of Common Stock of the Company. (2) In the Reorganization, Mr. Aitken and Aitken (English) Company Limited, an affiliate of Mr. Aitken, each exercised 250,000 equity warrants of TWUK, paying the exercise price thereof through the tender of subordinated promissory notes of Allied Healthcare (UK) in the principal amount of (pound)250,000 (approximately $393,850 as of July 25, 2002), and received 250,000 ordinary shares of TWUK. Each such ordinary share was exchanged in the Reorganization for 0.3488 shares of Series A Convertible Preferred Stock of the Company. Accordingly, Mr. Aitken and Aitken (English) Company Limited were each issued 87,200 shares of Series A Convertible Preferred Stock in the Reorganization at a purchase price of $4.52 per share of Series A Convertible Preferred Stock. (3) By Aitken (English) Company, an affiliate of Mr. Aitken. (4) As a result of the consummation of the Reorganization, Mr. Aitken and Aitken (English) Company Limited, an affiliate of Mr. Aitken, are each entitled to require Allied Healthcare (UK) to issue to him or it a funding note in satisfaction of (pound)65,176 (approximately $102,678 as of July 25, 2002) of accrued and unpaid payment in kind interest on subordinated promissory notes issued by Allied Healthcare (UK). The principal amount of each funding note shall be equal to the amount of such accrued and unpaid interest. The funding notes are exchangeable for shares of Common Stock of the Company at the ratio of 0.3488 shares of Common Stock for every (pound)2.00 of principal amount of funding notes. /s/ T. M. Aitken 7 Aug. 02 ---------------------------------------- -------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).