Filing Details

Accession Number:
0001493152-21-005771
Form Type:
13D Filing
Publication Date:
2021-03-10 20:40:04
Filed By:
Winfield John V
Company:
Portsmouth Square Inc (OTCMKTS:PRSI)
Filing Date:
2021-03-11
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
John V. Winfield Tax Identification Number - 18,641 541,908 18,641 11. 541,908 73.8%
The InterGroup Corporation Tax Identification Number 13-3 523,267 9. 523,267 11. 523,267 71.3%
Filing

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 11)

 

PORTSMOUTH, SQUARE, INC.

 

Name of Issuer

 

Common Stock, No Par Value Per Share

 

Title of Class of Securities

 

737212-10-0

 

CUSIP Number

 

Danfeng Xu

Treasurer

The InterGroup Corporation

1516 S. Bundy Dr., Suite 200

Los Angeles, California 90025

(310) 889-2511

 

Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications

 

March 5, 2021

 

Date of Event which Requires Filing of this Statement

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [  ]

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for and subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

   

 

CUSIP No. 737212-10-0

 

1.

Name of Reporting Person

 

John V. Winfield 

Tax Identification Number

 

###-##-####

2.

Check the Appropriate Box if a Member of a Group

(a) [  ]
(b) [X]

3.

SEC Use Only

 

 

4.

Source of Funds

 

Common stock of Santa Fe Financial Corporation

5.

Check if Disclosure of Legal Proceedings is Required pursuant to Items 2(d) or 2(e) [  ]

 

 

6.

Citizenship or Place of Organization

 

U.S.

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

7.

Sole Voting Power

 

18,641

8.

Shared Voting Power

 

541,908

9.

Sole Dispositive Power

 

18,641

10. Shared Dispositive Power

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

541,908 Shares of Common Stock

12.

Check if the Aggregate Amount in Row 11 Excludes Certain Shares [  ]

 

13.

Percent of Class Represented by Amount in Row 11

 

73.8%

14.

Type of Reporting Person

 

IN

 

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CUSIP No. 737212-10-0

 

1.

Name of Reporting Person

 

The InterGroup Corporation

Tax Identification Number

 

13-3293645

2.

Check the Appropriate Box if a Member of a Group

(a) [  ]
(b) [X]

3.

SEC Use Only

 

 

4.

Source of Funds

 

Common stock of Santa Fe Financial Corporation

5.

Check if Disclosure of Legal Proceedings is Required pursuant to Items 2(d) or 2(e) [  ]

 

 

6.

Citizenship or Place of Organization

 

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

7.

Sole Voting Power

 

523,267

8.

Shared Voting Power

 

9.

Sole Dispositive Power

 

523,267

10.

Shared Dispositive Power

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

523,267 Shares of Common Stock

12.

Check if the Aggregate Amount in Row 11 Excludes Certain Shares [  ]

 

13.

Percent of Class Represented by Amount in Row 11

 

71.3%

14.

Type of Reporting Person

 

CO

 

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AMENDMENT NO. 11

TO SCHEDULE 13D

OF JOHN V. WINFIELD

AND THE INTERGROUP CORPORATION

REGARDING OWNERSHIP OF SECURITIES OF

PORTSMOUTH SQUARE, INC.

 

This Amendment No. 11 to Schedule 13D is being filed by John V. Winfield and The InterGroup Corporation, a Delaware corporation (“InterGroup”) to update information previously furnished.

 

The following items of this Schedule 13D are amended:

 

Item 1. Security of Issuer.

 

This Amendment reflects distribution of the Common Stock, no par value (the “Common Stock”) of Portsmouth Square, Inc., a California corporation (“Portsmouth” or the “Issuer”) to Mr. Winfield and InterGroup. The address of the principal executive offices of the Issuer is 1516 S. Bundy Dr., Suite 200, Los Angeles, CA 90025.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Mr. Winfield and InterGroup received additional shares of Common Stock of Portsmouth in connection with the liquidation of Santa Fe Financial Corporation, the parent company of Portsmouth.

 

Item 4. Purposes of Transactions.

 

On March 2, 2021, InterGroup received 222,118 shares of the Common Stock of Portsmouth in connection with the liquidation of Santa Fe Financial Corporation (“Santa Fe”), the parent company of Portsmouth. On March 5, 2021, InterGroup received additional 200,880 shares of the Common Stock of Portsmouth in connection with the liquidation of Santa Fe. On March 5, 2021, John V. Winfield received 18,641 shares of the Common Stock of Portsmouth in connection with the liquidation of Santa Fe. InterGroup has purchased shares of the Common Stock for investment purposes. InterGroup may make additional purchases of the Common Stock in open market transactions, primarily in block purchases, or in private transactions, to increase their equity interest in Portsmouth.

 

Prior to the liquidation of Santa Fe, Portsmouth was a 68.8%-owned subsidiary of Santa Fe, which had ownership, voting and management control of Portsmouth since 1987. Santa Fe was a subsidiary of InterGroup, which controlled approximately 87.4% of the voting shares of Santa Fe. InterGroup presently owns 71.3% of the Common Stock of Portsmouth. Two of Santa Fe’s three directors also served as directors of InterGroup. Two of Portsmouth’s five directors served as directors of Santa Fe and four of Portsmouth’s directors are also directors of InterGroup. John V. Winfield serves as Chairman of the Board and President of InterGroup and Portsmouth.

 

Except as discussed above, InterGroup does not have any other plans or proposals at this time which relate to or would result in the events set forth in this Item 4.

 

Item 5. Interest in the Securities of the Issuer.

 

(a) As of March 5, 2021, John V. Winfield beneficially owns 18,641 shares of the Common Stock of Portsmouth. Those shares represent approximately 2.5% of the outstanding Common Stock of Portsmouth. As of March 5, 2021, InterGroup owns 523,267 shares of the Common Stock of Portsmouth, representing approximately 71.3% of the outstanding Common Stock. To the extent that Mr. Winfield may be deemed to beneficially own, for purposes of Section 13(d), the Common Stock of Portsmouth owned by InterGroup, Mr. Winfield would beneficially own approximately 73.8% of the Common Stock of Portsmouth.

 

The above percentages were determined based on Portsmouth’s representation that it had 734,183 shares of Common Stock outstanding as of March 5, 2021.

 

(b) Mr. Winfield and InterGroup have the sole power to vote or to direct the vote, and the sole power to dispose or direct the disposition of, the shares of Common Stock beneficially owned by each of them, respectively. Since Mr. Winfield beneficially owns more than 65% of the Common Stock of InterGroup, it is expected that all shares of Common Stock held by Mr. Winfield and InterGroup would be voted in the same way; however, there is no requirement or agreement that those shares be voted in that manner.

 

(c) Information with respect to transactions in the Common Stock that were affected during the past sixty (60) days is set forth below:

 

  Date   Number of Shares   Price per Share   Nature
  03/02/2021   222,118   N/A   Received by InterGroup as a result of liquidation of Santa Fe Financial Corporation
  03/05/2021   200,880   N/A   Received by InterGroup as a result of liquidation of Santa Fe Financial Corporation
  03/05/2021   18,641   N/A   Received by John V. Winfield as a result of liquidation of Santa Fe Financial Corporation

 

(d) No person other than John V. Winfield and InterGroup, has the right to receive or the power to direct the receipt of dividends from, and the proceeds from the sale of, the shares beneficially owned by each of them, respectively.

 

(e) Inapplicable.

 

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SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: March 10, 2021   John V. Winfield
         
      By: /s/ John. V. Winfield
        John V. Winfield
        President, Chairman of the Board and CEO
         
Dated: March 10, 2021   THE INTERGROUP CORPORATION
         
      By: /s/ Danfeng Xu
        Danfeng Xu
        Treasurer and Controller

 

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APPENDIX A

 

THE INTERGROUP CORPORATION

Executive Officers and Directors*

 

John V. Winfield - Chairman of the Board, President and Chief Executive Officer, The InterGroup Corporation and Portsmouth Square, Inc.
  Citizenship: United States
   
William J. Nance - Director of The InterGroup Corporation and Portsmouth Square, Inc.
  Principal Occupation: Certified Public Accountant (“CPA”) and Consultant
  Citizenship: United States
   
Yvonne L. Murphy - Director of The InterGroup Corporation. Principal Occupation: Lobbyist and management consultant
  Citizenship: United States
   
John C. Love - Director of The InterGroup Corporation and Portsmouth Square, Inc.
  Retired CPA, Independent consultant to the hospitality and tourism industries
  Citizenship: United States
   
Jerold R. Babin - Director of The InterGroup Corporation and Portsmouth Square, Inc.
  Principal Occupation: Retired retail securities broker
  Citizenship: United States
   
David C. Gonzalez - Vice President Real Estate, The InterGroup Corporation
  Citizenship: United States
   
Danfeng Xu - Secretary, Treasurer and Controller, The InterGroup Corporation and Portsmouth Square, Inc.
  Citizenship: People’s Republic of China

 

* Business Address: The business address for all executive officers and directors is c/o The InterGroup Corporation, 1516 S. Bundy Dr., Suite 200, Los Angeles, CA 90025.

 

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