| FORM 4 |
UNITED STATES 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 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
INVESTORS CAPITAL HOLDINGS LTD [ ICH ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/11/2008 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock, $0.1 par value | 03/11/2008 | S | 7,000(1) | D | $5 | 746,491(2)(3) | D | |||
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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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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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| Explanation of Responses: |
| 1. Sold to RSH Opportunities Fund I, LLC, another member of the 13(d) group. |
| 2. Under the concept of beneficial ownership applicable to a "group" under the rules and regulations of the Securities and Exchange Commission each of the Reporting Persons should be deemed to beneficially own 782,304 shares of the company's Common Stock, 746,491 shares of Common Stock are held in the name of Robino Stortini Holding LLC ("RSH"), 7,913 shares of Common Stock are held in the name of Robino Stortini Holdings II LLC ("RSH II"), 7,000 shares of the Common Stock are held by RSH Opportunities Fund I, LLC ("RSH Opportunities Fund"), 20,500 shares of the Common Stock are held in the name of Mr. Stortini personally and 400 shares are held in Mr. Stortini's Individual Retirement Accounts. (Continued in footnote 3) |
| 3. Each of RSH, RSH II and RSH Opportunities Fund disclaims beneficial ownership of all of the shares listed above which are shown as held in the names of the other entity Reporting Persons. RSH, RSH II, RSH Opportunities Fund and Mr. Robino disclaim beneficial ownership of any shares owned individually by Mr. Stortini. Messrs. Robino and Stortini disclaim beneficial ownership of any shares owned by RSH, RSH II, and RSH Opportunities Fund except to the extent of their respective pro rata equity ownership interests in RSH, RSH II, and RSH Opportunities Fund, respectively. |
| /s/ Robino Stortini Holdings, LLC | 07/30/2008 | |
| /s/ Michael Stortini | 07/30/2008 | |
| /s/ RSSI Investment Advisors, LLC | 07/30/2008 | |
| /s/ RSSIAM, LLC | 07/30/2008 | |
| /s/ Charles J. Robino | 07/30/2008 | |
| /s/ Robino Stortini Holdings II, LLC | 07/30/2008 | |
| /s/ RSH Opportunities Fund I, LLC | 07/30/2008 | |
| ** Signature of Reporting Person | Date | |
| 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). | ||
| ** 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 is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||