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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30,1997
Estimated average burden
hours per response ...... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Garcao Jose Maria Salema
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(Last) (First) (Middle)
Quinta Da Marinha, Lote CT-14
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(Street)
2750 Cascais Portugal
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Finet Holdings Corporation ("FNHC")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
October 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 [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficia
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 10/27/97 P 150,000 A (1) 5,373,900 D
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SEE APPENDED SCHEDULE OF OTC
COMMON STOCK TRANSACTIONS
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<FN>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
</FN>
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficiall Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock $4.00 10/1/97 P 2,000,000 10/1/02 10/1/02 Common 2,000,000 (2) D
Purchase Warrant Stock
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Common Stock $5.00 10/27/97 P 150,000 10/31/97 10/31/02 Common 150,000 (1) 6,850,000 D
Purchase Warrant Stock
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Nonstatutory $5.50 10/20/97 A 40,000 10/20/97 10/20/02 Common 40,000 40,000 D
stock option Stock
(right to buy)
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/s/ Jose Maria Salema Garcao November 7, 1997
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**Signature of Reporting Person Date
<FN>
Explanation of Responses:
(1) The Common Stock and the Common Stock Purchase Warrants were purchased
pursuant to a Stock Purchase Agreement between the Company and Mr. Garcao dated
10/27/97, under which Mr. Garcao purchased 150,000 Unit Securities, each Unit
consisting of one share of the Company's Common Stock at a purchase price of $3
per share and a Warrant to purchase one share of the Company's Common Stock at
an exercise price of $5 per share.
(2) The Common Stock Purchase Warrants were granted to the Reporting Person in
consideration of past and future financial advisory services provided by the
Reporting person to the Company.
** 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 procedures.
</FN>
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FORM 4
APPENDED SCHEDULE OF OTC COMMON STOCK TRANSACTIONS
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficia
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 10/07/97 P 1,200 A $3.63 D
Common Stock 10/08/97 P 600 A $4.00 D
Common Stock 10/09/97 P 200 A $4.00 D
Common Stock 10/10/97 P 200 A $4.88 D
Common Stock 10/13/97 P 100 A $5.00 D
Common Stock 10/14/97 P 200 A $4.50 D
Common Stock 10/15/97 P 200 A $4.50 D
Common Stock 10/16/97 P 200 A $4.69 D
Common Stock 10/16/97 P 1,800 A $4.72 D
Common Stock 10/17/97 P 200 A $4.88 D
Common Stock 10/17/97 P 8,400 A $4.69 D
Common Stock 10/20/97 P 10,000 A $4.96 D
Common Stock 10/21/97 P 500 A $5.38 D
Common Stock 10/21/97 P 500 A $5.31 D
Common Stock 10/22/97 P 1,000 A $5.13 D
Common Stock 10/23/97 P 4,300 A $4/89 D
Common Stock 10/24/97 P 14,600 A $5.35 D
Common Stock 10/27/97 P 9,500 A $5.64 D
Common Stock 10/28/97 P 2,000 A $6.81 D
Common Stock 10/28/97 P 4,500 A $6.86 D
Common Stock 10/29/97 P 8,500 A $7.35 D
Common Stock 10/30/97 P 5,000 A $7.44 D
Common Stock 10/31/97 P 7,500 A $7.27 D
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