SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
The United Illuminating Company
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
910637
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(CUSIP Number)
Terry Kasuga
Chase Enterprises
One Commercial Plaza, Hartford, Connecticut 06103-3585
(860) 549-1674
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 1, 1997
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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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
(Continued on the following pages)
(Page 1 of 7 Pages)
<PAGE>
CUSIP No. 910637
1 NAME OF REPORTING PERSONS
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Cheryl A. Chase
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) / /
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
NUMBER OF 7 SOLE VOTING POWER
SHARES 79,000 shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 0 shares
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0 shares
WITH 10 SHARED DISPOSITIVE POWER
79,000 shares
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,000 shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
AMENDMENT NO. 1 TO STATEMENT ON SCHEDULE 13D
The reporting person hereby amends in part her Statement on Schedule
13D dated September 26, 1997 (the "Initial Schedule 13D") with respect to
the common stock, no par value (the "Common Stock"), of The United
Illuminating Company ("UI"). This amendment amends only those portions of
the information previously reported that have changed since the prior
filing.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The reporting person purchased an aggregate of 55,000 shares of
Common Stock in open market transactions from October 8, 1997 through
December 3, 1997. The reporting person holds such shares of Common Stock
in the brokerage account to which the Trading Authorization described in
Item 6 of the Initial Schedule 13D relates. All such transactions are set
fourth on Schedule I hereto, which is incorporated herein by reference.
The aggregate consideration (including commissions) for all such purchases
was $2,141,215. The funds to purchase such shares of Common Stock were
personal funds of the reporting person.
Item 4. PURPOSE OF TRANSACTION.
The reporting person is holding the 79,000 shares of Common Stock
she owns of record for investment purposes. Based on the reporting
person's ongoing evaluation of the business, prospects and financial
condition of UI, the market for and price of the Common Stock, other
opportunities available to her, offers for her shares of Common Stock,
general economic conditions and other future developments, the reporting
person reserves the right to change her plans and intentions at any time,
as she deems appropriate. In particular, the reporting person may decide
to sell or seek the sale of all or part of her present or future beneficial
holdings of Common Stock, or may decide to acquire additional Common Stock,
or securities convertible into or exchangeable for Common Stock, either in
the open market, in private transactions, or by any other permissible
means. The reporting person may also decide to enter into derivative
transactions relating to the Common Stock. Any such transactions may be
effected at any time and from time to time.
Other than the above, as of the date hereof, the reporting person
does not have any plans or proposals that relate to or would result in any
of the following:
(a) The acquisition by any person of additional securities of UI, or
the disposition of securities of UI;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving UI or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of UI or any of
its subsidiaries;
(d) Any change in the present board of directors or management of UI,
including any plans or proposals to 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 UI;
(f) Any other material change in UI's business or corporate
structure;
(g) Changes in UI's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control of UI
by any person;
(h) Causing a class of securities of UI 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 UI becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"); or
(j) Any action similar to any of those enumerated above.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date hereof, the reporting person owns of record and
beneficially 79,000 shares of Common Stock, representing approximately 0.6%
of the 14,101,291 shares of Common Stock reported to be outstanding as of
September 30, 1997 (as reported in UI's Quarterly Report on Form 10-Q for
the quarter ended September 30, 1997).
This schedule does not relate to, and, in accordance with Rule 13d-4
under the Exchange Act, the reporting person expressly declares that the
filing of this statement shall not be construed as an admission that she
is, for purposes of Section 13(d) or 13(g) of the Exchange Act, the
beneficial owner of, any of the (i) 146,000 shares of Common Stock, or 1.0%
of the shares of Common Stock reported to be outstanding as of September
30, 1997, owned by The Darland Trust, a trust of which the reporting person
and her children are the beneficiaries, (ii) 300,000 shares of Common
Stock, or 2.1% of the shares of Common Stock reported to be outstanding as
of September 30, 1997, owned by Rhoda L. Chase, the reporting person's
mother, (iii) 225,000 shares of Common Stock, or 1.6% of the Common Stock
reported to be outstanding as of September 30, 1997, owned by Arnold L.
Chase, the reporting person's brother, or (iv) 175,000 shares of Common
Stock, or 1.2% of the Common Stock reported to be outstanding as of
September 30, 1997, owned by American Ranger, Inc. ("American Ranger"), a
company which is owned and controlled by the Chase family, as described
below. David T. Chase (the father of the reporting person and Arnold L.
Chase and the husband of Rhoda L. Chase) may be deemed to be a beneficial
owner of the shares of Common Stock referred to in clauses (i), (ii) and
(iii) of the immediately preceding sentence.
American Ranger is a wholly-owned subsidiary of D.T. Chase
Enterprises, Inc. ("DTCE"), a holding company for various Chase family
interests. David T. Chase, Arnold L. Chase and Cheryl A. Chase are the
directors and executive officers of American Ranger and the directors and
three of the executive officers of DTCE. All of the outstanding stock of
DTCE is owned by David T. Chase (33.95%), Rhoda L. Chase (2.21%), Arnold L.
Chase (9.34%), Cheryl A. Chase (14.74%), five trusts for the benefit of
Arnold L. Chase's children and two trusts for the benefit of Arnold L.
Chase, his spouse and/or his children, of which Stanley N. Bergman and
Arnold L. Chase are co-trustees (20.15% in the aggregate), and five trusts
for the benefit of Cheryl A. Chase's children and two trusts for the
benefit of Cheryl A. Chase and/or her children, of which Stanley N. Bergman
and Cheryl A. Chase are co-trustees (19.61% in the aggregate).
(b) The reporting person has the sole power to vote or to direct the
vote of the 79,000 shares of Common Stock owned by her. The reporting
person shares the power to dispose or to direct the disposition of the
79,000 shares of Common Stock owned by her with her father, David T. Chase.
David T. Chase's principal occupation is Chairman of the Board of
Directors and President of DTCE. David T. Chase's business address and the
principal business address of DTCE is: D.T. Chase Enterprises, Inc., One
Commercial Plaza, Hartford, Connecticut 06103. During the past five years,
David T. Chase has not been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors). During the past five years,
David T. Chase has not been a party to a civil proceeding of a judicial or
an administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to
such laws. David T. Chase is a citizen of the United States of America.
(c) All transactions in the Common Stock effected by or on behalf of
the reporting person in the past 60 days are set forth on Schedule I
hereto, which is incorporated herein by reference. All such transactions
were open market purchases of Common Stock. Some of the transactions were
effected for the account of the reporting person by David T. Chase.
(d) Each of David T. Chase and the reporting person has the power to
direct the dividends from, and the proceeds from the sale of, all of the
shares of Common Stock owned by the reporting person. No other person is
known to have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the shares of Common
Stock owned by the reporting person.
(e) Not applicable.
<PAGE>
SIGNATURE
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: December 8, 1997
/s/ Cheryl A. Chase
Cheryl A. Chase
<PAGE>
SCHEDULE I
Transactions in The United Illuminating Company
Common Stock by Cheryl A. Chase
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
10/08/97 Buy 37.567 5,400
10/08/97 Buy 37.790 2,100
10/21/97 Buy 38.995 7,500
10/24/97 Buy 38.113 5,000
10/27/97 Buy 37.858 7,750
10/28/97 Buy 37.563 7,250
11/26/97 Buy 40.008 10,000
12/01/97 Buy 40.750 8,400
12/03/97 Buy 40.689 1,600
TOTAL 55,000
</TABLE>
