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FORM 4
[X] Check this box if no ------------------------------------
longer subject to OMB APPROVAL
Section 16. Form 4 or
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continue. See Instruction 1(b). Expires: September 30, 1998
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U. S. 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
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1. Name and address of Reporting Person
Pacific USA Holdings Corp.
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(Last) (First) (MI)
5999 Summerside Drive, Suite 112
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(Street)
Dallas Texas 75252
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Monaco Finance, Inc.; MONFA
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3. IRS or Social Security Number
of Reporting Person (Voluntary) 75-2255876
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4. Statement for Month/Year | 5. If Amendment, Date of
| Original (Month/Year)
February 1997 |
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer [ ] Other (specify below)
(give title below)
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FORM 4 (Continued)
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TABLE I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Security Acquired (A) or Disposed
(Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 & 5)
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| | Code | V | Amount | (A) or | Price
| | | | | (D) |
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial
(Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4)
| End of Month | Indirect (I) |
| (Instr. 3 and 4) | (Instr. 4) |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person,
see Instruction 4(b)(v).
Page 1 of 3(Over)
SEC 1474 (7-96)
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FORM 4 (Continued)
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
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1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative
(Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired
| Derivative Security | | 8) | (A) or Disposed of
| | | | (D) (Instr. 3, 4 & 5)
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| | | Code | V | (A) | (D)
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Option (Right to Buy) | $4.00/sh | 2/6/97 | J | | | 830,000
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Warrant (Right to Buy) | $4.50/sh | 2/6/97 | J | | | 2,500,000
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Warrant (Right to Buy) | $5.00/sh | 2/6/97 | J | | | 1,500,000
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Warrant (Right to Buy) | $6.00/sh | 2/6/97 | J | | | 1,000,000
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Warrant (Right to Buy) | $7.00/sh | 2/6/97 | J | | | 1,000,000
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Contractual Right to Buy | $3.25/sh | 2/6/97 | J | | | 3,800,000
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative
(Instr. 3) | Expiration Date | Securities (Instr. 3 & 4) | Security (Instr. 5)
| (Month/Day/Year) | |
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| Date | Expiration | Title | Amount or Number |
| Exercisable | Date | | of Shares |
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Option (Right to Buy) | 1,4 | 2 | Class B Common | 830,000 | 4
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Warrant (Right to Buy) | 1 | 3 | Class A Common | 2,500,000 | 4
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Warrant (Right to Buy) | 1 | 3 | Class A Common | 1,500,000 | 4
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Warrant (Right to Buy) | 1 | 3 | Class A Common | 1,000,000 | 4
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Warrant (Right to Buy) | 1 | 3 | Class A Common | 1,000,000 | 4
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Contractual Right to Buy | 4 | 4 | Class A Common | 3,800,000 | 4
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</TABLE>
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FORM 4 (Continued)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership Form of Derivative | 11. Nature of Indirect
(Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership
| Owned at End of Month | Indirect (I) (Instr. 4) | (Instr. 4)
| (Instr. 4) | |
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Option (Right to Buy) | 0 | |
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Warrant (Right to Buy) | 0 | |
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Warrant (Right to Buy) | 0 | |
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Warrant (Right to Buy) | 0 | |
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Warrant (Right to Buy) | 0 | |
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Contractual Right to Buy | 0 | |
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</TABLE>
Explanation of Responses:
1. Exercisable the date of the closing of the transactions contemplated by the
Securities Purchase Agreement dated 10/29/96 between Pacific USA Holdings
Corp. and Monaco Finance, Inc. (the "Closing Date").
2. Third anniversary of the Closing Date.
3. Fifth anniversary of the Closing Date.
4. See attached supplement.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
PACIFIC USA HOLDINGS CORP.
By: /s/ Bill C. Bradley March 5, 1997
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**Signature of Reporting Person Date
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Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 3
SEC 1474 (7-96)
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SUPPLEMENT TO FORM 4
Name of Reporting Person Issue Name and Ticker or Trading System
Pacific USA Holdings Corp. Monaco Finance, Inc.; MONFA
Under a Securities Purchase Agreement dated October 29, 1996 (the
"Securities Purchase Agreement"), Pacific agreed to acquire 3,800,000
newly-issued shares of Class A common stock of Monaco. In addition, pursuant to
a Warrant (the "Warrant") issued to Pacific by Monaco on October 29, 1996,
Pacific had the right to purchase an additional 6,000,000 newly-issued shares of
Class A common stock. Moreover, Pacific entered into a Shareholder Option
Agreement ("Option Agreement") dated October 29, 1996 with Morris Ginsburg,
Sandler Family Partners, Ltd., and Irwin Sandler, significant shareholders of
Monaco's Class B common stock (the "Significant Shareholders"), pursuant to
which Pacific obtained the right to purchase 830,000 of the Class B common stock
of Monaco owned by such Significant Shareholders and such Significant
Shareholders also were given the right to "put" their Class B common stock to
Pacific.
On February 6, 1997, Pacific and Monaco entered into a Termination
Agreement which effected a termination of the Securities Purchase Agreement, the
Warrant and the Option Agreement. As a result of the Termination Agreement,
Pacific no longer has the obligation or right to acquire any shares of Monaco's
class A common stock or Class B common stock.
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