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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5 OMB APPROVAL
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[_] Check this box if no longer OMB NUMBER: 3235-0362
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 ...... 1.0
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[_] Form 3 Holdings Reported
[_] Form 4 Transaction Reported
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
1. Name and Address of Reporting Person
Cotter James J.
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(Last) (First) (Middle)
c/o Craig Corporation
120 Robertson Blvd.
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(Street)
Los Angeles CA 90048
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Reading Entertainment, Inc. ("RDGE")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December 1997
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
x Director 10% Owner
----- ------
Officer (give Other (Specify
----- title below) ------ below)
Chairman of the Board
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7. Individual or Joint/Group Reporting
x Form Filed by One Reporting Person
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Form Filed by More than One Reporting Person
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<TABLE>
<CAPTION>
Table 1 -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature
(Instr. 3) action action or Disposed of (D) Securities Form: of Indirect
Date Code Beneficially Direct Beneficial
(Instr. 8) (Instr. 3,4 and 5) Owned at End (D) or Ownership
(Month/ -------------------------- Of Issuer's Indirect (Instr. 4)
Day/ Amount (A) or Price Fiscal Year (I)
Year) (D) (Instr. 3 and 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 5,000 I Pension Plan
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Common Stock 1,000 I Pension Plan
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Common Stock * * *
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</TABLE>
James J. Cotter is Chairman of the Board of Directors of Reading Entertainment,
Inc. ("Reading") and Craig Corporation ("Craig") and the principal stockholder
of Craig. At December 31, 1997, Craig and its wholly owned subsidiary, Craig
Management, Inc. ("CMI") own 5,165,516 shares of Reading Common Stock,
representing 69.3% of Reading's outstanding Common Stock. In addition, Craig and
CMI own 550,000 shares of Reading's Series B Voting Cumulative Convertible
Preferred Stock, which when combined with their Common Stock holding, represent
approximately 78% of the outstanding voting securities of Reading. Mr. Cotter
disclaims beneficial ownership of the Craig securities described in this report,
and the disclosure herein shall not be deemed an admission that Mr. Cotter is,
for the purposes of Section 16(a) of the Securities and Exchange Act, as amended
(the "Act"), or otherwise, the beneficial owner of any of the shares of Reading
stock held by Craig, and Mr. Cotter disclaims beneficial ownership under Section
16(a) of the Act, or otherwise, of such shares.
*If form is filed by more than one reporting person, see instruction 4(b)(v).
(Over)
SEC 2270 (3/91)
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FORM 5 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Conversion 3. Transaction 4. Transaction 5. Number of Derivative 6. Date Exercisable
(Instr. 3) or Exercise Date Code Securities Acquired (A) and Expiration
Price of (Month Day (Instr. 8) or Disposed of (D) Date
Derivative Year) (Instr. 3, 4, and 5) (Month, Day
Security Year)
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(A) (D) Date Expiration
Exer- Date
cisable
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option (Right to Buy) $14.00 6/30/92 5/4/02
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Stock Option (Right to Buy) $14.00 5/4/93 5/4/02
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Stock Option (Right to Buy) $14.00 5/4/94 5/4/02
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 27,500 4/18/98 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 27,500 4/18/99 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 27,500 4/18/00 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 27,500 4/18/01 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 65,000 4/18/98(1) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 65,000 4/18/99(1) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 65,000 4/18/00(1) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 65,000 4/18/01(1) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 22,500 4/18/98(2) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 22,500 4/18/99(2) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 22,500 4/18/00(2) 4/18/07
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Stock Option (Right to Buy) $12.80 9/16/97 A,5 22,500 4/18/01(2) 4/18/07
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</TABLE>
<TABLE>
<CAPTION>
7. Title and Amount of 8. Price of Derivative 9. Number of Derivative 10. Ownership of 11. Nature of the
Underlying Securities Security (Instr. 5) Securities Beneficially Derivate Security: Indirect Beneficial
(Instr. 3 AND 4) Owned at End of Year Direct (D) or Ownership (Instr. 4)
Instr. 4) Indirect (I) (Instr. 4)
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Title Amount or
Number of
Shares
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<S> <C> <C> <C> <C>
Common
Stock 88,411 88,411 D
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Common
Stock 88,410 88,410 D
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Common
Stock 88,411 88,411 D
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Common
Stock 27,500 27,500 D
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Common
Stock 27,500 27,500 D
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Common
Stock 27,500 27,500 D
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Common
Stock 27,500 27,500 D
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Common
Stock 65,000 65,000 D
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Common
Stock 65,000 65,000 D
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Common
Stock 65,000 65,000 D
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Common
Stock 65,000 65,000 D
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Common
Stock 22,500 22,500 D
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Common
Stock 22,500 22,500 D
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Common
Stock 22,500 22,500 D
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Common
Stock 22,500 22,500 D
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</TABLE>
*Explanation of Responses:
(1) Exercisable on and after such date only in proportion to the number of
shares of certain preferred stock of the issuer, if any, which are converted
to common stock.
(2) Exercisable on and after such date only in proportion to the number of
shares of common stock, if any, which are issued under certain contractual
obligations of the issuer.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
_______________________________ ______________
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed. If
space provided 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.
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SEC 2270 (3/91)
