UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
HETTLEMAN, STUART
c/o AMERTRANZ WORLDWIDE HOLDING CORP.
112 EAST 25TH STREET
BALTIMORE, MD 21218
USA
2. Issuer Name and Ticker or Trading Symbol
AMERTRANZ WORLDWIDE HOLDING CORP.
AMTZ, AMTZW
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
09/28/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
PRESIDENT
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
COMMON STOCK |9/98 |J(1)| |35,721 |A |(1) |466,965 |I |(2)(6) |
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COMMON STOCK | | | | | | |34,700.4 |I |(3)(6) |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS A 10% CUMULATIVE|(4) |9/98 |J(1)| |3,983.5 |A |IMMED| |COMMON STOCK|(4) |(1) |19,917.3(5) |I |(2)(6) |
CONVERTIBLE PREFERRED| | | | | | |. | | | | | | | |
STOCK | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) TRANSFERRED FROM ENTITY INDIRECTLY PARTIALLY-OWNED BY REPORTING PERSON TO
ENTITY IN WHICH
REPORTING PERSON OWNS A 16.2% INDIRECT
INTEREST.
(2) REPORTING PERSON IS AN INDIRECT 16.2% OWNER OF THE ENTITY WHICH OWNS THESE
SHARES.
(3) REPORTING PERSON IS AN INDIRECT PARTIAL OWNER OF THE ENTITY WHICH OWNS
THESE SHARES.
(4) EACH HOLDER OF CLASS A 10% CUMULATIVE CONVERTIBLE PREFERRED STOCK HAS THE
RIGHT, AT THE
HOLDER'S OPTION, TO CONVERT ANY OR ALL SHARES INTO COMMON STOCK AT ANY TIME AT
A
CONVERSION PRICE (SUBJECT TO ADJUSTMENT) OF THE LOWER OF (i) $6.00 PER SHARE,
OR (ii) 80% OF THE
AVERAGE OF THE CLOSING BID AND ASKED PRICE PER SHARE OF COMMON STOCK ON THE DAY
PRIOR TO
THE CONVERSION
DATE.
(5) TOTAL AMOUNT INCLUDES 5,377.6 SHARES ISSUED AS DIVIDENDS ON OUTSTANDING
SHARES OF CLASS
A 10% CUMULATIVE CONVERTIBLE PREFERRED
STOCK.
(6) THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF THESE SECURITIES,
AND THIS REPORT
SHALL NOT BE DEEMED AN ADMISSION THAT THE REPORTING PERSON IS THE BENEFICIAL
OWNER OF SUCH
SECURITIES FOR PURPOSES OF SECTION 16 OR FOR ANY OTHER
PURPOSE.
SIGNATURE OF REPORTING PERSON
/S/ STUART HETTLEMAN
DATE
SEPTEMBER 28, 1998
