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FORM 5 OMB APPROVAL
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[ ] Check his box if no longer OMB Number 3235-0287
subject to Section 16. Form 4 Expires: September 30, 1998
or Form 5 obligations may Estimated average burden
continue. See Instruction 1(b). hours per response...............0.5
[X] Form 3 Holdings Reported -------------------------------------
[ ] Form 4 Holdings Reported
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL 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
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1. Name and Address of Reporting Person
Pocock Terrence H.
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(Last) (First) (Middle)
5210 Williams Circle, Ste 200
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(Street)
Tucson AZ 85711
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(City (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Wavetech, Inc. (ITEL)
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3. IRS or Social Security
Number of Reporting
Person (Voluntary)
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4. Statement for Month/Year
August/1997
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5. If Amendment,
Date of Original
(Month/Year)
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6. Relationship of Reporting Person to Issuer(check all applicable)
[X] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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<PAGE>
Form 5 (continued)
<TABLE>
<CAPTION>
Table I -- Non-derivative Securities Acquired, Disposed of, or Beneficially Owned
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<S> <C> <C> <C> <C> <C> <C>
1. Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5.Amount of 6. Ownership 7. Nature of
Security action action or Disposed of (D) Securities Form: Indirect
(Instr. 3) Date Code (Instr. 3, 4 and 5) Beneficially Direct(D) Beneficial
(Month/ (Instr.8) (A) or Owned at End or Ownership
Day Year) Code V Amount (D) Price of Month Indirect(I) (Instr.4)
(Instr.3 and 4) (Instr.4)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Derivative sion or action tion Code ative Securities Ac-
Security Exercise Date (Instr. 8) quired (A) or Dis-
(Instr. 3) Price of (Month/ posed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year) -----------------------------------
Security Code V (A) (D)
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Non-Employee Director
Stock Option
(right to buy) (1) 3-26-97 J(2) 10,000
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Non-Employee Director
Stock Option
(right to buy) (1) 7-28-97 J(2) 40,000
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10.Owner- 11. Nature
cisable and Underlying Securities of of Deriv- ship of
Expiration Date (Instr. 3 and 4) Deriv- ative Form of Indirect
(Month/Day/Year) ative Securities Derivative Beneficial
---------------- ---------------------- Security Beneficially Security Ownership
Date Expira- Amount or (instr.5) Owned at End Direct(D) (Instr.4)
Exer- tion Title Number of of Month or Indirect(I)
cisable Date Shares Instr. 4) (Instr.4)
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3-26-98 (3) Common Stock 10,000 (2) D
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7-28-99 (3) Common Stock 40,000 (2) 50,000 D
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</TABLE>
Explanation of Responses:
(1) These shares may be exercised at a price equal to the mean of the bid and
asked price of the Company's Common Stock on the Nasdaq SmallCap Market on
the date of grant.
(2) Grant to reporting person of option to buy shares of Common Stock under the
Non-Employee Director Automatic Stock Option Grants portion of the
Company's 1997 Stock Incentive Plan.
(3) The option will terminate on the earlier of (i) the tenth anniversary of
the date of grant or (ii) 60 days after the reporting person ceases to
serve as a Director of the Company. The option may be exercised during such
60 day period only as to the shares which were exercisable prior to the
last day the reporting person was a Director.
/s/ Terrence H. Pocock 11/16/97
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**Signature of Reporting Person Date
Terrence H. Pocock
**Intentional misstatements or omissions of facts constitute 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 provided is insufficient, see Instruction 6 for procedure.
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