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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
CASMYN CORP. ("CMYN") NOW KNOWN AS to Issuer (Check all applicable)
ARIES VENTURES INC. ("ARVT") X Director 10% Owner
Milan Divo (1) ---- ----
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) ----------------- ------------------
Tlaxcala 181 APRIL 2000
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(Street) 5. If Amendment, (Check Applicable Line)
Date of Original ___Form filed by One Reporting Person
(Month/Year) _X_Form filed by More than One
Col. H. Condesa D.F. Mexico 06100 8/98 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock, $0.01 par value 4/11/00 J(2) 2,999,027 D See below (4) 0 I By Karpnale(5)
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Preferred Stock, $0.01 par value 4/11/00 J(2) 21,253 D See below (4) 0 I By Karpnale(5)
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Common Stock, $0.01 par value 4/11/00 J(2) 118,001(3) A See below (4) 118,001 I By Karpnale(5)
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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 reporting person, SEE Instruction 4(b)(v). SEC 1474 (7-96)
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1, 2, 3 , 4, 5 - See "EXPLANATION OF RESPONSES" on next page.
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
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Date Expira-
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cisable Date
Code V (A) (D)
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Warrant to Purchase $6.00 4/11/00 J(2) A 4/11/00 4/11/01
Common Stock, $0.01
par value
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Common 118,001 See 118,001 I By
Stock, below(4) Karpnale(5)
$0.01 par
value
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EXPLANATION OF RESPONSES:
(1) This is a joint filing being made by Divo Milan on behalf of himself and Karpnale Investment PTE, Ltd. ("Karpnale"). Mr. Milan
is the designated filer for purposes of this filing. Karpnale's address is Tlaxala 181, Col. H. Condesa, D. F. Mexico 06100.
(2) These transactions were effected pursuant to the terms of a Second Amended Plan of Reorganization (the "Plan of
Reorganization") effective April 11, 2000 with respect to Issuer's prior filing under Chapter 11 of the United States
Bankruptcy Code. The Plan of Reorganization was approved by order of the United States Bankruptcy Court, Central District of
California, San Fernando Valley Division, filed and entered on March 31, 2000.
(3) Each of the Reporting Persons beneficially owned shares of the Issuer's preferred stock ("Preferred Stock") and/or shares of
its common stock ("Common Stock") prior to the Effective Date of the Plan of Reorganization. Pursuant to the terms of the Plan
of Reorganization, each share of the Issuer's Preferred Stock outstanding immediately prior to the Effective Date was converted
on the Effective Date into 5.27 shares of the Issuer's Common Stock (the "Conversion"). In addition, pursuant to the Plan of
Reorganization, on the Effective Date, a 1 for 500 reverse split of Issuer's Common Stock occurred (the "Reverse Split"). The
number of shares of Common Stock listed as being acquired in these transactions reflects the Conversion and the Reverse Split.
The Plan of Reorganization also authorized a Management Incentive Stock Option Plan pursuant to which options may be granted to
members of the management of the Issuer. At some time in the future, it is anticipated that Mr. Zucker will be granted an
option to purchase up to 5% of the Issuer's outstanding Common Stock pursuant to the terms of this Management Incentive Stock
Option Plan.
(4) See Explanation (2) and (3) above.
(5) The securities are held of record by Karpnale Investment PTE Ltd., an irrevocable trust established by Mr. Milan for the
benefit of his minor children.
/s/ Divo Milan May 11, 2000
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**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
Federal Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1474 (7-96)
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