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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 2)1
SPURLOCK INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK, NO PAR VALUE
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(Title of Class of Securities)
852190-10-7
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(CUSIP Number)
HAROLD N. SPURLOCK, SR. 125 BANK ST.,
WAVERLY, VIRGINIA 23890; (804) 834-8980
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
MARCH 12, 1999
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(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 that 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(b) for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
1 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 any 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, as amended (the "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).
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<PAGE>
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CUSIP No. 852190-10-7 SCHEDULE 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Spurlock Family Limited Partnership
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
Not Applicable
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) |_|
Not Applicable
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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NUMBER OF 7 SOLE VOTING POWER
SHARES 3,114,800
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8 SHARED VOTING POWER
BENEFICIALLY
-0-
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OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,114,800
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10 SHARED DISPOSITIVE POWER
PERSON WITH
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,114,800
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
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Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.9%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 852190-10-7 SCHEDULE 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Spurlock Family Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
Not Applicable
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) |_|
Not Applicable
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
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8 SHARED VOTING POWER
BENEFICIALLY
3,114,800
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OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
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10 SHARED DISPOSITIVE POWER
PERSON WITH
3,114,800
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,114,800
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
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Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Schedule 13D
Spurlock Family Limited Partnership
Amendment #2
Item 1: Security and Issuer.
No Change
Item 2: Identity and Background.
No Change
Item 3: Source and Amount of Funds or Other Consideration.
[Add the following:] Schedule 13D filed March 2, 1999 by the
Spurlock Family Limited Partnership is amended to show that
the Partnership has 3,114,800 shares of shared voting and
dispositive power over the common stock of the Issuer.
Harold N. Spurlock, Sr. No Change
Irvine R. Spurlock. No Change
H. Norman Spurlock, Jr. No Change
Phillip S. Sumpter and Katherine G. Sumpter - No Change
Item 4: Purpose of Transaction.
(a) [Item 4(a) is amended by adding the following:]The
Spurlock Family Limited Partnership pursuant to a
Settlement Agreement made in December 1998,
transferred 225,000 shares of the common stock of the
Issuer to Lee Rasmussen on March 12, 1999. The
following individuals have "put" rights to require
the Partnership to purchase certain shares at a set
price as provided for in the Settlement Agreement:
Lee Rasmussen, Beverly Dittemore, Jeffrey T. Coats,
Ernest Reeves, Christine Olsen, Sheila Rasmussen,
Vernon Rasmussen and Douglas Richmond (hereinafter
the "Rasmussen Group"). This transaction settles a
lawsuit filed by the Rasmussen Group disputing the
actions taken by Harold N. Spurlock, Sr., Irvine R.
Spurlock and H. Norman Spurlock, Jr. as officers and
directors of the Issuer. A copy of the Settlement
Agreement was attached as Exhibit C to Schedule 13D
filed on March 2, 1999.
(b) No Change.
Except as noted above and in the previous Schedule 13D
filings, there are no plans or proposals which the Partnership
may have which relate to or would result in:
(a) the disposition of securities of the Issuer;
Page 4 of 7 Pages
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(b) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the
Issuer or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of
the Issuer or any of its subsidiaries;
(d) any change in the present board of directors or
management of the Issuer, including any plans or
proposals that change the number or term of directors
or to fill any existing vacancies on the board;
(e) any material change in the present capitalization or
dividend policy of the Issuer;
(f) any other material change in the Issuer's business or
corporate structure;
(g) changes in the Issuer's charter, bylaws or
instruments corresponding thereto or other actions
which may impede the acquisition of control of the
Issuer by any person;
(h) causing a class of securities of the Issuer to be
delisted from a national securities exchange or to
cease to be authorized to be quoted in an
inter-dealer quotation system of a registered
national securities association;
(i) a class of equity securities of the Issuer to be
delisted from a national securities exchange or to
cease to be authorized to be quoted in an
inter-dealer quotation system of a registered
national securities association;
(j) any action similar to any of those enumerated above.
Item 5: Interest in Securities of the Issuer.
Spurlock Family Limited Partnership. The aggregate number of
shares of common stock of the Issuer beneficially owned by the
Spurlock Family Limited Partnership is 3,114,800 or 45.9% of
the issued and outstanding shares of common stock of the
Issuer.
Spurlock Family Corporation. The aggregate number of shares of
common stock of the Issuer beneficially owned by the Spurlock
Family Corporation is 3,114,800 or 45.9% of the issued and
outstanding shares of common stock of the Issuer.
Harold N. Spurlock. (a) The aggregate number of shares of
common stock beneficially owned by Harold N. Spurlock, Sr. is
3,420,800 or 50.3% of the issued and outstanding shares of
common stock of the Issuer. (b) Mr. Harold N. Spurlock, Sr.
has the sole power to vote and to dispose of 306,000 shares of
the common stock of the Issuer pursuant to the Declaration of
Trust of Harold N. Spurlock, Sr. dated
Page 5 of 7 Pages
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December 17, 1998, except that unanimous consent of the
trustees is required to dispose of the trust property until
the Expiration Date (as defined in the Voting Agreement). The
Voting Agreement is attached as Exhibit E to the 1st amended
13D filed on March 2, 1999 by the Partnership. Mr. Harold N.
Spurlock, Sr. has the shared power to vote and dispose of
3,420,800 shares of the common stock of the Issuer.
Irvine R. Spurlock. (a) The aggregate number of shares of
common Stock of the Issuer beneficially owned by the Irvine R.
Spurlock is 3,184,800 or 46.9% of the issued and outstanding
shares of common stock of the Issuer. (b) Mr. Irvine R.
Spurlock possesses the sole power to vote and dispose of
20,000 shares of the common stock of the Issuer pursuant to
the Declaration of Trust of Irvine R. Spurlock dated December
17, 1998, except that unanimous consent of the trustees is
required to dispose of the trust property until the Expiration
Date (as defined in the Voting Agreement). In addition, Mr.
Irvine R. Spurlock possess the sole power to vote and dispose
of 50,000 shares of common stock of the Issuer upon the
exercise of stock options. Mr. Irvine R. Spurlock has the
shared power to vote and dispose of 3,134,800.
H. Norman Spurlock, Jr. No Change
Harold N. Spurlock, Sr., David Shane Smith, and Lawrence
Dieker as Trustees U/A with Harold N. Spurlock Sr., dated
December 17, 1998 a/k/a Declaration of Living Trust of Harold
N. Spurlock, Sr. No Change
Irvine R. Spurlock, David Shane Smith, and Lawrence Dieker as
Trustees U/A with Irvine R. Spurlock dated December 17, 1998
a/k/a Declaration of Living Trust of Irvine R. Spurlock. No
Change
Phillip S. Sumpter and Katherine G. Sumpter. No Change
See those transactions listed in Items 3 & 4 and in previously filed
Schedule 13Ds.
Item 6: Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
See Items 3 & 4 above and in previously filed Schedule 13Ds.
Item 7: Material to be Filed as Exhibits.
Exhibit C (ATTACHED TO SCHEDULE 13D FILED MARCH 2, 1999) -
Settlement Agreement made in December, 1998 between Lee
Rasmussen, et al. and Harold D. Spurlock, Sr., Irvine R.
Spurlock, H. Norman Spurlock, Jr. and the Spurlock Family
Limited Partnership.
Exhibit E (ATTACHED TO SCHEDULE 13D FILED MARCH 2, 1999)
-Voting Agreement dated December 18, 1998 by and between
Borden Chemical, Inc., SII Acquisition Company; Phillip S.
Sumpter, Katherine G. Sumpter, Irvine R. Spurlock, Harold N.
Spurlock, Sr., Spurlock Family Corporation, Spurlock Family
Limited Partnership, the Harold N. Spurlock Declaration of
Living Trust Dated December 17, 1998 and the Irvine R.
Spurlock Declaration of Living Trust Dated December 17, 1998.
Page 6 of 7 Pages
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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 on Schedule 13D is
true, complete and correct.
SPURLOCK FAMILY LIMITED PARTNERSHIP
By: Spurlock Family Corporation,
General Partner
Date: March 16, 1999 /s/ Harold N. Spurlock, Sr.
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Name: Harold N. Spurlock, Sr.
Title: President
Spurlock Family Corporation
Date: March 16, 1999 /s/ Harold N. Spurlock, Sr.
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Name: Harold N. Spurlock, Sr.
Title: President
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).
