<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------
SCHEDULE 13G
(Rule 13d-102)
<TABLE>
<S> <C>
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b) and (c)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
</TABLE>
Royal Precision, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
780921-10-2
- --------------------------------------------------------------------------------
(CUSIP Number)
----------------
<PAGE> 2
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 2 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Christopher A. Johnston |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ x ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 1,231,741 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,286,313 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.8% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 3
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 3 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Berenson Minella Investment Partnership, L.P. No. VI |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Delaware, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 1,231,741 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,231,741 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 4
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 4 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Berenson, Minella & Company, L.P. |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Delaware, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,231,741 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 5
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 5 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Berenson Corp. |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Delaware, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,231,741 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | CO |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 6
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 6 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Minella Corp. |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Delaware, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,231,741 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | CO |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 7
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 7 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Raymond J. Minella |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,240,091 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.1% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 8
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 8 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Jeffrey L. Berenson |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 1,231,741 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 1,231,741 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,231,741 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 22.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 9
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 9 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Richard P. Johnston |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 626,309 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 626,309 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 651,361 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 11.6% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 10
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 10 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Jayne Johnston |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 626,309 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 626,309 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 651,361 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 11.6% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 11
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 11 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON RPJ/JAJ Partners, Ltd. |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Wyoming, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 626,309 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 626,309 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 626,309 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 11.2% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 12
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 12 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Danny Edwards |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 526,502 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 526,502 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 575,718 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 10.2% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 13
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 13 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Kenneth J. Warren |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 334,031 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 334,031 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 349,354 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 6.2% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 14
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 14 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON David E. Johnston |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 208,769 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 208,769 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 219,875 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.9% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 15
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 15 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Bennett Dorrance, Trustee of the Bennett Dorrance Trust dated |
| | April 21, 1989 |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 209,632 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 2,247 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 207,385 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 209,632 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.8% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | OO |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 16
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 16 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Bennett Dorrance |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 209,632 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 209,632 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 209,632 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.8% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 17
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 17 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Drew M. Brown |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 207,779 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 394 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 207,385 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 207,779 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.7% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 18
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 18 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON Mark N. Sklar |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 207,779 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 394 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 207,385 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 207,779 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.7% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 19
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 19 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON DMB GP, Inc. |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ X ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Arizona, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 207,385 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 207,385 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 207,385 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.7% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | CO |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 20
<TABLE>
CUSIP NO. 780921-10-2 13G PAGE 20 OF 34 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON DMB Property Ventures Limited Partnership |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | |
| | |
| | Delaware, United States of America |
|-----|---------------------------------------------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 207,385 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 207,385 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 207,385 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] |
| | ---- |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.7% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 21
ITEM 1(A). NAME OF ISSUER:
Royal Precision, Inc.
- --------------------------------------------------------------------------------
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
3490 Clubhouse Drive, Suite 102
Jackson Hole, Wyoming 83001
- --------------------------------------------------------------------------------
ITEM 2(A). NAME OF PERSON FILING:
On May 12, 1997, Danny Edwards, Drew M. Brown, DMB
Property Ventures Limited Partnership, the general
partner of which is DMB GP, Inc. (the shareholders
of DMB GP, Inc. are Drew M. Brown, Mark N. Sklar and
the Bennett Dorrance Trust dated April 21, 1989),
Mark N. Sklar and Bennett Dorrance, Trustee of the
Bennett Dorrance Trust dated April 21, 1989 (the
"Edwards Parties") and Christopher A. Johnston,
RPJ/JAJ Partners, Ltd., the general partners of
which are Richard P. Johnston and Jayne Johnston,
David E. Johnston, Berenson Minella & Company, L.P.,
the general partners of which are Berenson Corp., an
S corporation owned by Jeffrey L. Berenson, and
Minella Corp., an S corporation owned by Raymond J.
Minella, and Kenneth J. Warren (the "Johnston
Parties") entered into a stockholder agreement (the
"Stockholder Agreement") whereby the parties agreed
that the Royal Precision, Inc. ("RP") board of
directors shall be composed of nine members, three
of which will be elected by the Edwards Parties and
six of which will be elected by the Johnston
parties. Berenson Minella & Company, L.P. is the
sole general partner of Berenson Minella Investment
Partnership, L.P. No. VI. Pursuant to the Berenson
Minella Investment Partnership, L.P. No. VI
partnership agreement, the RP common shares
registered in the name of Berenson Minella &
Company, L.P. have been contributed to Berenson
Minella Investment Partnership, L.P. No. VI. This
Schedule 13G is filed by the parties as a Group and
by the parties individually.
- --------------------------------------------------------------------------------
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE:
Group Address:
Royal Precision, Inc.
Attn: Christopher A. Johnston
3490 Clubhouse Drive
Jackson Hole, Wyoming 83001
Copy to:
Kenneth J. Warren
5920 Cromdale Drive, Suite 1
Dublin, Ohio 43017
Christopher A. Johnston
Royal Precision, Inc.
3490 Clubhouse Drive
Jackson Hole, Wyoming 83001
Berenson Minella Investment Partnership, L.P. No. VI
667 Madison Avenue
New York, New York 10021
21 of 34 Pages
<PAGE> 22
Berenson, Minella & Company, L.P.
667 Madison Avenue
New York, New York 10021
Berenson Corp.
667 Madison Avenue
New York, New York 10021
Minella Corp.
667 Madison Avenue
New York, New York 10021
Raymond J. Minella
667 Madison Avenue
New York, New York 10021
Jeffrey L. Berenson
667 Madison Avenue
New York, New York 10021
Richard P. Johnston
9651 North Pusch Ridge Place
Tucson, Arizona 85737
Jayne Johnston
9651 North Pusch Ridge Place
Tucson, Arizona 85737
RPJ/JAJ Partners, Ltd.
3490 Clubhouse Drive, Suite 102
Jackson Hole, Wyoming 83001
Danny Edwards
6724 North Whispering Hills Road
Paradise Valley, Arizona 85253
Kenneth J. Warren
5920 Cromdale Drive, Suite 1
Dublin, Ohio 43017
David E. Johnston
1935 West Muirfield Loop
Tucson, Arizona 85737
<TABLE>
<CAPTION>
<S> <C>
Bennett Dorrance, Trustee of the Bennett Dorrance Trust dated April 21, 1989
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
</TABLE>
Bennett Dorrance
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
Drew M. Brown
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
22 of 34 Pages
<PAGE> 23
Mark N. Sklar
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
DMB Property Ventures Limited Partnership
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
DMB GP, Inc.
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
- --------------------------------------------------------------------------------
ITEM 2(C). Citizenship:
Christopher A. Johnston, Raymond J. Minella, Jeffrey
L. Berenson, Richard P. Johnston, Jayne Johnston,
Danny Edwards, Kenneth J. Warren, David E. Johnston,
Bennett Dorrance, Drew M. Brown and Mark N. Sklar
are citizens of the United States of America.
Berenson Minella Investment Partnership, L.P. No. VI
and Berenson, Minella & Company, L.P. are Delaware
limited partnerships.
RPJ/JAJ Partners, Ltd. is a Wyoming partnership.
Berenson Corp. and Minella Corp. are Delaware
corporations.
DMB Property Ventures Limited Partnership is a
Delaware limited partnership.
DMB GP, Inc. is an Arizona corporation.
- --------------------------------------------------------------------------------
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.001 per share
- --------------------------------------------------------------------------------
ITEM 2(E). CUSIP NUMBER:
780921-10-2
- --------------------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES
13D-1(B), OR 13D-2(B), CHECK WHETHER THE PERSON
FILING IS A: (not applicable)
(A) Broker or dealer registered under Section 15
of the Act,
(B) Bank as defined in Section 3(a)(6) of the
Act,
(C) Insurance Company as defined in Section
3(a)(19) of the Act,
(D) Investment Company registered under Section 8
of the Investment Company Act,
(E) Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940,
23 of 34 Pages
<PAGE> 24
(F) Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see 13d-1(b)(1)(ii)(F),
(G) Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G); see Item 7,
(H) Group, in accordance with Rule
13d-1(b)(1)(ii)(H).
- --------------------------------------------------------------------------------
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned:
Group: 4,369,513 common shares including 163,619
common shares subject to options exercisable within
60 days.
Christopher A. Johnston: 1,286,313 common shares
including 54,572 common shares subject to options
exercisable within 60 days.
Berenson Minella Investment Partnership, L.P. No.
VI: 1,231,741 common shares. Berenson Minella
Investment Partnership, L.P. No. VI ("Partnership
VI") is not a party to the Stockholder Agreement.
Berenson Minella & Company, L.P., the sole general
partner of Partnership VI, is a party to the
Stockholder Agreement and the record owner of the
1,231,741 shares being reported by Partnership VI on
this Schedule 13G. Pursuant to Partnership VI's
partnership agreement, the shares owned by Berenson
Minella & Company, L.P. were contributed to
Partnership VI. Partnership VI expressly declares
that its filing of this Schedule 13G shall not be
construed as an admission that it is, for the
purposes of Section 13(d) or 13(g) of the Securities
Exchange Act of 1934 (the "Act"), the beneficial
owner of any securities covered by this Schedule
13G.
Berenson, Minella & Company, L.P.: 1,231,741 common
shares.
Berenson Corp.: 1,231,741 common shares. Berenson
Corp. is a general partner of Berenson Minella &
Company, L.P. which is a party to the Stockholder
Agreement by which the group was formed. The common
shares which Berenson Corp. is reporting on this
Schedule 13G are owned of record by the partnership.
Berenson Corp. expressly declares that its filing of
this Schedule 13G shall not be construed as an
admission that it is, for the purposes of Section
13(d) or 13(g) of the Act, the beneficial owner of
any of the securities covered by this Schedule 13G.
Minella Corp.: 1,231,741 common shares. Minella
Corp. is a general partner of Berenson Minella &
Company, L.P. which is a party to the Stockholder
Agreement by which the group was formed. The common
shares which Minella Corp. is reporting on this
Schedule 13G are owned of record by the partnership.
Minella Corp. expressly declares that its filing of
this Schedule 13G shall not be construed as an
admission that it is, for the purposes of Section
13(d) or 13(g) of the Act, the beneficial owner of
any of the securities covered by this Schedule 13G.
Jeffrey L. Berenson: 1,231,741 common shares. Mr.
Berenson is a shareholder of Berenson Corp. which is
a general partner of Berenson Minella & Company,
L.P. The partnership is a party to the Stockholder
Agreement by which the group was formed. The common
shares which Mr. Berenson is reporting on this
Schedule 13G are owned of record by the partnership.
Mr. Berenson expressly declares that his filing of
this Schedule 13G shall not be construed as an
admission that he is, for the purposes of Section
13(d) or 13(g) of the Act, the beneficial owner of
any of the securities covered by this Schedule 13G.
24 of 34 Pages
<PAGE> 25
Raymond J. Minella: 1,240,091 common shares
including 8,350 common shares subject to options
exercisable within 60 days. Mr. Minella is a
shareholder of Minella Corp. which is a general
partner of Berenson, Minella & Company, L.P. The
partnership is a party to the Stockholder Agreement
by which the group was formed. 1,231,741 of the
common shares which Mr. Minella is reporting on this
Schedule 13G are owned of record by the partnership.
Mr. Minella expressly declares that his filing of
this Schedule 13G shall not be construed as an
admission that he is, for the purposes of Section
13(d) or 13(g) of the Act the beneficial owner of
any securities covered by this Schedule 13G except
for 8,350 common shares subject to options
exercisable in 60 days which Mr. Minella owns
directly.
Richard P. Johnston: 651,361 common shares including
25,052 common shares subject to options exercisable
within 60 days. Mr. Johnston is a general partner of
RPJ/JAJ Partners, Ltd. 626,309 of the common shares
which Mr. Johnston is reporting on this Schedule 13G
are owned directly by the partnership. Mr. Johnston
expressly declares that his filing of this Schedule
13G shall not be construed as an admission that he
is, for the purposes of Section 13(d) or 13(g) of
the Act, the beneficial owner of any securities
covered by the Schedule 13G except for 25,052 common
shares subject to options exercisable within 60 days
which are owned directly by Mr. Johnston.
Jayne Johnston: 651,361 common shares including
25,052 common shares subject to options exercisable
within 60 days. Mrs. Johnston is the spouse of
Richard P. Johnston and a general partner of RPJ/JAJ
Partners, Ltd. Both Mr. Johnston and the partnership
are parties to the Stockholder Agreement by which
the group was formed. 25,052 of the common shares
Mrs. Johnston is reporting on this Schedule 13G are
subject to options exercisable within 60 days owned
directly by Mr. Johnston. The remaining 626,309
common shares are owned directly by the partnership.
Mrs. Johnston expressly declares that her filing of
this Schedule 13G shall not be construed as an
admission that she is, for the purposes of Section
13(d) or 13(g) of the Act, the beneficial owner of
any securities covered by this Schedule 13G.
RPJ/JAJ Partners, Ltd.: 626,309 common shares.
Danny Edwards: 575,718 common shares including
49,216 common shares subject to options exercisable
within 60 days.
Kenneth J. Warren: 349,354 common shares including
15,323 common shares subject to options exercisable
within 60 days.
David E. Johnston: 219,875 common shares including
11,106 common shares subject to options exercisable
within 60 days.
Bennett Dorrance, Trustee of the Bennett Dorrance
Trust dated April 21, 1989: 209,632 common shares.
The trust is a shareholder of DMB GP, Inc. which is
the sole general partner of DMB Property Ventures
Limited Partnership. 207,385 of the common shares
the trust is reporting on this Schedule 13G are
owned directly by the partnership. The trust
expressly declares that its filing of this Schedule
13G shall not be construed as an admission that it
is, for the purposes of Section 13(d) or 13(g) of
the Act, the beneficial owner of any securities
covered by this Schedule 13G except for 2,247 common
shares held directly by the trust.
Bennett Dorrance: 209,632 common shares. Mr.
Dorrance is the trustee of the Bennett Dorrance
Trust dated April 21, 1989 which is a shareholder of
DMB GP, Inc. DMB GP, Inc. is the sole general
partner of DMB Property Ventures Limited
Partnership. Both the trust and the partnership are
parties to the Stockholder Agreement by which the
group was
25 of 34 Pages
<PAGE> 26
formed. The common shares which Mr. Dorrance is
reporting on this Schedule 13G are held directly by
the trust and the partnership and Mr. Dorrance
expressly declares that his filing of this Schedule
13G shall not be construed as an admission that he
is, for the purposes of Section 13(d) or 13(g) of
the Act, the beneficial owner of any securities
covered by the Schedule 13G.
Drew M. Brown, 207,779 common shares. Mr. Brown is a
shareholder of DMB GP, Inc. which is the sole
general partner of DMB Property Ventures Limited
Partnership. 207,385 of the common shares Mr. Brown
is reporting on this Schedule 13G are owned directly
by the partnership. Mr. Brown expressly declares
that his filing of this Schedule 13G shall not be
construed as an admission that he is, for the
purposes of Section 13(d) or 13(g) of the Act, the
beneficial owner of any securities covered by this
Schedule 13G except for 394 common shares owned
directly by Mr. Brown.
Mark N. Sklar: 207,779 common shares. Mr. Sklar is a
shareholder of DMB GP, Inc. which is the sole
general partner of DMB Property Ventures Limited
Partnership. 207,385 of the common shares Mr. Sklar
is reporting on this Schedule 13G are owned directly
by the partnership. Mr. Sklar expressly declares
that his filing of this Schedule 13G shall not be
construed as an admission that he is, for the
purposes of Section 13(d) or 13(g) of the Act, the
beneficial owner of any securities covered by this
Schedule 13G except for 394 common shares owned
directly by Mr. Sklar.
DMB Property Ventures Limited Partnership: 207,385
common shares.
DMB GP, Inc.: 207,385 common shares. DMB GP, Inc. is
the sole general partner of DMB Property Ventures
Limited Partnership. The common shares which DMB GP,
Inc. is reporting on this Schedule 13G are held
directly by the partnership and DMB GP, Inc.
expressly declares that its filing of this Schedule
13G shall not be construed as an admission that it
is, for the purposes of Section 13(d) or 13(g) of
the Act, the beneficial owner of any securities
covered by the Schedule 13G.
<TABLE>
<CAPTION>
<S> <C>
(b) Percent of Class:
Group: 78.8%
Christopher A. Johnston: 22.8%
Berenson Minella Investment Partnership, L.P. No. VI: 22.0%
Berenson, Minella & Company, L.P.: 22.0%
Berenson Corp.: 22.0%
Minella Corp.: 22.0%
Raymond J. Minella: 22.1%
Jeffrey L. Berenson: 22.0%
Richard P. Johnston: 11.6%
Jayne Johnston: 11.6%
RPJ/JAJ Partners, Ltd.11.2%
Danny Edwards: 10.2%
Kenneth J. Warren: 6.2%
David E. Johnston: 3.9%
Bennett Dorrance, Trustee of the Bennett Dorrance Trust dated April 21, 1989: 3.8%
Bennett Dorrance: 3.8%
Drew M. Brown: 3.7%
Mark N. Sklar: 3.7%
DMB GP, Inc.: 3.7%
DMB Property Ventures Limited Partnership: 3.7%
</TABLE>
26 of 34 Pages
<PAGE> 27
(c) Number of Shares as to which such person has:
Group:
(i) sole power to vote or to direct the vote:
4,369,513
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 4,369,513
(iv) shared power to dispose of or direct the
disposition of: 0
Christopher A. Johnston:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 1,231,741
(iv) shared power to dispose of or direct the
disposition of: 0
Berenson, Minella Investment Partnership, L.P. No.
VI:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
Berenson, Minella & Company, L.P.:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
Berenson Corp.:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
27 of 34 Pages
<PAGE> 28
Minella Corp.:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
Raymond J. Minella:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
Jeffrey L. Berenson:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
1,231,741
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 1,231,741
Richard P. Johnston:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
626,309
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 626,309
Jayne Johnston:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
626,309
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 626,309
28 of 34 Pages
<PAGE> 29
RPJ/JAJ Partners, Ltd.:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
626,309
(iii) sole power to dispose or to direct the
disposition of: 626,309
(iv) shared power to dispose of or direct the
disposition of: 0
Danny Edwards:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
526,502
(iii) sole power to dispose or to direct the
disposition of: 526,502
(iv) shared power to dispose of or direct the
disposition of: 0
Kenneth J. Warren:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
334,031
(iii) sole power to dispose or to direct the
disposition of: 334,031
(iv) shared power to dispose of or direct the
disposition of: 0
David E. Johnston:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
208,769
(iii) sole power to dispose or to direct the
disposition of: 208,769
(iv) shared power to dispose of or direct the
disposition of: 0
Bennett Dorrance, Trustee of the Bennett Dorrance
Trust dated April 21, 1989:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
209,632
(iii) sole power to dispose or to direct the
disposition of: 2,247
(iv) shared power to dispose of or direct the
disposition of: 207,385
29 of 34 Pages
<PAGE> 30
Bennett Dorrance:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
209,632
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose of or direct the
disposition of: 209,632
Drew M. Brown:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
207,779
(iii) sole power to dispose or to direct the
disposition of: 394
(iv) shared power to dispose of or direct the
disposition of: 207,385
Mark Sklar:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
207,779
(iii) sole power to dispose or to direct the
disposition of: 394
(iv) shared power to dispose of or direct the
disposition of: 207,385
DMB GP, Inc.
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
207,385
(iii) sole power to dispose or to direct the
disposition of: 0
(iv) shared power to dispose or direct the
disposition of: 207,385
DMB Property Ventures Limited Partnership:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:
207,385
(iii) sole power to dispose or to direct the
disposition of: 207,385
(iv) shared power to dispose of or direct the
disposition of: 0
30 of 34 Pages
<PAGE> 31
<TABLE>
<CAPTION>
<S> <C>
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. INDEMNIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See response to Item 2(a).
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
</TABLE>
31 of 34 Pages
<PAGE> 32
ITEM 10. CERTIFICATION.
Not applicable.
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.
<TABLE>
<S> <C>
BERENSON, MINELLA & COMPANY, L.P. RPJ/JAJ PARTNERS, LTD.
By: /s/ Gregg Feinstein By: /s/ Richard P. Johnston,
----------------------------------- -----------------------------------
Gregg Feinstein, Authorized Signer Richard P. Johnston, General Partner
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
DMB PROPERTY VENTURES LIMITED DMB GP, INC.
PARTNERSHIP
By: /s/ Drew M. Brown By: /s/ Drew M. Brown
----------------------------------- -----------------------------------
Title: President Title: President
----------------------------------- -----------------------------------
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Christopher A. Johnston /s/ Raymond J. Minella
- ----------------------------------- -----------------------------------
Christopher A. Johnston Raymond J. Minella
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Jeffrey L. Berenson /s/ Richard P. Johnston
- ----------------------------------- -----------------------------------
Jeffrey L. Berenson Richard P. Johnston
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Jayne Johnston /s/ Danny Edwards
- ----------------------------------- -----------------------------------
Jayne Johnston Danny Edwards
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
</TABLE>
32 of 34 Pages
<PAGE> 33
<TABLE>
<S> <C>
/s/ Kenneth J. Warren /s/ David E. Johnston
- ----------------------------------- -----------------------------------
Kenneth J. Warren David E. Johnston
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Bennett Dorrance /s/ Drew M. Brown
- ----------------------------------- -----------------------------------
Bennett Dorrance Drew M. Brown
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Mark N. Sklar /s/ Bennett Dorrance
- ----------------------------------- -----------------------------------
Mark N. Sklar Bennett Dorrance, Trustee of the
Bennett Dorrance Trust
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
</TABLE>
33 of 34 Pages
<PAGE> 34
<TABLE>
<S> <C>
BERENSON MINELLA INVESTMENT BERENSON CORP.
PARTNERSHIP, L.P. NO. VI
By: /s/ Gregg Feinstein By: /s/ Jeffrey L. Berenson
---------------------------------------------- -------------------------------------------
Gregg Feinstein, Authorized Signer Jeffrey L. Berenson, Shareholder
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- ----------------------------------------
MINELLA CORP.
By: /s/ Raymond J. Minella
----------------------------------------------
Raymond J. Minella, Shareholder
Dated: 2/10/98
-----------------------------------
</TABLE>
34 of 34 Pages
<PAGE> 35
EXHIBIT INDEX
-------------
<TABLE>
<CAPTION>
Exhibit Description Sequential Page No.
- ------- ----------- -------------------
<S> <C> <C>
1 Statement Pursuant to Rule 13d-1(f) 36
2 Stockholder Agreement 39
</TABLE>
<PAGE> 1
EXHIBIT 1
STATEMENT PURSUANT TO RULE 13D-1 (F)
The undersigned parties hereto, CHRISTOPHER A. JOHNSTON, RAYMOND J. MINELLA,
BERENSON, MINELLA & COMPANY, L.P., BERENSON MINELLA INVESTMENT PARTNERSHIP, L.P.
NO. VI, BERENSON CORP., MINELLA CORP., JEFFREY L. BERENSON, RICHARD P. JOHNSTON,
JAYNE JOHNSTON, RPJ/JAJ PARTNERS, LTD., DANNY EDWARDS, KENNETH J. WARREN, DAVID
E. JOHNSTON, BENNETT DORRANCE, DREW M. BROWN, MARK N. SKLAR, DMB PROPERTY
VENTURES LIMITED PARTNERSHIP, DMB GP, INC. and BENNETT DORRANCE, TRUSTEE OF THE
BENNETT DORRANCE TRUST DATED APRIL 21, 1989 hereby consent and agree to file a
joint statement on Schedule 13(G) under the Securities Exchange Act of 1934, as
amended, on behalf of each of them, with respect to shares of common stock of
ROYAL PRECISION, INC. beneficially owned by them, together with any or all
amendments thereto, when and if appropriate. The parties hereto further consent
and agree to file this Statement pursuant to Rule 13d-1(f) as an exhibit to such
Schedule 13(G), thereby incorporating the same into such Schedule 13(G).
<TABLE>
<S> <C>
BERENSON, MINELLA & COMPANY, L.P. RPJ/JAJ PARTNERS, LTD.
By: /s/ Gregg Feinstein By: /s/Richard P. Johnston,
----------------------------------- -----------------------------------
Gregg Feinstein, General Partner Richard P. Johnston, General Partner
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
DMB PROPERTY VENTURES LIMITED DMB GP, INC.
PARTNERSHIP
By: /s/ Drew M. Brown By: /s/ Drew M. Brown
----------------------------------- -----------------------------------
Title: President Title: President
----------------------------------- -----------------------------------
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Christopher A. Johnston /s/ Raymond J. Minella
- ----------------------------------- -----------------------------------
Christopher A. Johnston Raymond J. Minella
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/Jeffrey L. Berenson /s/ Richard P. Johnston
- ----------------------------------- -----------------------------------
Jeffrey L. Berenson Richard P. Johnston
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<S> <C>
/s/ Jayne Johnston /s/ Danny Edwards
- ----------------------------------- -----------------------------------
Jayne Johnston Danny Edwards
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Kenneth J. Warren /s/ David E. Johnston
- ----------------------------------- -----------------------------------
Kenneth J. Warren David E. Johnston
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Bennett Dorrance /s/ Drew M. Brown
- ----------------------------------- -----------------------------------
Bennett Dorrance Drew M. Brown
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
/s/ Mark N. Sklar /s/ Bennett Dorrance
- ----------------------------------- -----------------------------------
Mark N. Sklar Bennett Dorrance, Trustee of the
Bennett Dorrance Trust
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- -----------------------------------
</TABLE>
<PAGE> 3
<TABLE>
<S> <C>
BERENSON MINELLA INVESTMENT BERENSON CORP.
PARTNERSHIP, L.P. NO. VI
By: /s/ Gregg Feinstein By: /s/ Jeffrey L. Berenson
---------------------------------------------- -------------------------------------------
Gregg Feinstein, Partner of the General Partner Jeffrey L. Berenson, Shareholder
Dated: 2/10/98 Dated: 2/10/98
----------------------------------- ----------------------------------------
MINELLA CORP.
By: /s/ Raymond J. Minella
----------------------------------------------
Raymond J. Minella, Shareholder
Dated: 2/10/98
-----------------------------------
</TABLE>
<PAGE> 1
EXHIBIT 2
STOCKHOLDER AGREEMENT
AGREEMENT, dated as of May 14, 1997, among Danny Edwards, an individual
residing at 6724 North Whispering Hills Road, Paradise Valley, Arizona 85253,
Drew M. Brown, an individual whose address is 4201 North 24th Street, Suite 120,
Phoenix, Arizona 85016, DMB Property Ventures Limited Partnership, a Delaware
limited partnership having an office at 4201 North 24th Street, Suite 120,
Phoenix, Arizona 85016, Mark N. Sklar, an individual whose address is 4201 North
24th Street, Suite 120, Phoenix, Arizona 85016 and Bennett Dorrance, Trustee of
the Bennett Dorrance Trust dated April 21, 1989, as amended, whose address is
4201 North 24th Street, Suite 120, Phoenix, Arizona 85016 (Messrs. Edwards,
Brown, Sklar and Dorrance, and DMB Property Ventures Limited Partnership
collectively referred to as the "Edwards Group"), Christopher A. Johnston, an
individual residing at 2784 Teton Pines Drive, Jackson, Wyoming 83001, RPJ/JAJ
Partners, Ltd., a Wyoming partnership having an office at Teton Pines, 2627
Fairways Place West, Jackson, Wyoming 83001, David E. Johnston, an individual
residing at 1935 W. Muirhead Loop, Oro Valley, Arizona 85737, Berenson Minella &
Company, L.P., a New York limited partnership having an office at 667 Madison
Avenue, New York, New York 10021, Kenneth J. Warren, an individual residing at
5567 Caplestone Lane, Dublin, Ohio 43017 (Messrs. Christopher A. Johnston, David
E. Johnston and Warren, and RPJ/JAJPartners and Berenson Minella collectively
referred to as the "Johnston Group" and each member of the Edwards Group and the
Johnston Group individually referred to as a "Stockholder" and collectively as
"Stockholders"), and FM Precision Golf Corp., a Delaware corporation ("FM").
WHEREAS, FM and Royal Grip, Inc., a Nevada corporation ("RGI"), are
entering into an Agreement and Plan of Merger dated as of even date herewith
(the "Merger Agreement"), providing for the merger of a wholly-owned subsidiary
of FM with and into RGI (the "Merger") pursuant to the terms and conditions of
the Merger Agreement, and setting forth certain representations, warranties and
agreements which each of the parties thereto is making thereby in connection
with the Merger; and
WHEREAS, in connection with the Merger, each Stockholder hereto desires to
provide for the voting of the Common Stock, par value $.001 per share, of FM
(the "Common Stock"), for directors for the FM Board; and
WHEREAS, in order to induce FM and RGI to enter into the Merger Agreement
and for other good and valuable consideration, receipt of which is hereby
acknowledged, Stockholders are willing, upon the terms and subject to the
conditions hereunder set forth, to make certain agreements;
NOW, THEREFORE, the parties hereto agree as follows:
<PAGE> 2
SECTION 1. Representations of Stockholders. Each Stockholder
represents and warrants:
1.1. Such Stockholder is the sole, true, lawful and beneficial owner
of the number of shares of Common Stock (the "Shares") listed on the signature
page hereof as being owned by such Stockholder with no restrictions on such
Stockholder's voting rights or rights of disposition pertaining thereto, except
those under the Securities Act of 1933, as amended (the "1933 Act") and those
that would not in any material way limit or otherwise adversely affect the
voting rights granted by such Stockholder under this Agreement or by the proxy
to be delivered by such Stockholder pursuant hereto. At the Effective Date (as
defined in the Merger Agreement), such Stockholder will have good and valid
title to the Shares listed on the signature page hereof as being owned by such
Stockholder free and clear of any and all claims, liens, charges, encumbrances
and security interests. None of the Shares owned by such Stockholder is subject
to any voting trust or other agreement or arrangement with respect to the voting
of such shares that would in any way limit or otherwise adversely affect the
voting rights granted by such Stockholder under this Agreement. Such Stockholder
does not "beneficially own" (as such term is defined in the Securities Exchange
Act of 1934, as amended (the "1934 Act")), any shares of Common Stock other than
the Shares listed on the signature page hereof as being beneficially owned by
such Stockholder and other than any shares of Common Stock which such
Stockholder may obtain upon the exercise of RGI Options (as defined in the
Merger Agreement).
1.2. The execution, delivery and performance by such Stockholder of
this Agreement does not and will not contravene or constitute a default under or
give rise to a right of termination, cancellation or acceleration of any right
or obligation of such Stockholder or to a loss of any benefit of such
Stockholder under any provision of applicable law or regulation or of any
agreement, judgment, injunction, order, decree, or other instrument binding on
such Stockholder or result in the imposition of any lien on any asset of such
Stockholder.
1.3. This Agreement is the valid and binding Agreement of such
Stockholder. If this Agreement is being executed in a representative or
fiduciary capacity for such Stockholder, the person signing this Agreement for
such Stockholder has full power and authority to enter into and perform such
Agreement for such Stockholder.
SECTION 2. Composition of the Board.
2.1. The FM Board shall consist of at least nine members serving for
staggered terms of one, two and three years. The Johnston Group shall be
entitled, but not required, to designate six members of the FM Board (the
"Johnston Directors"), and the Edwards Group shall be entitled, but not
required, to designate three members of the FM Board (the "Edwards Directors").
At any time that the number of directors constituting the full Board shall be
increased, the director designation ratio of the Johnston Group and the Edwards
Group hereunder shall continue unless (i) the Edwards Group no longer owns 10%
of the outstanding voting securities of FM; or (ii) the vacancy resulting from
such increase is filled by an "independent" person not affiliated with the
Johnston Group. The Johnston Directors shall serve for terms of one, two and
three years, respectively, after the Effective Date, and the Edwards Directors
shall serve for terms of one, two and three years, respectively, after the
Effective Date. Danny
-2-
<PAGE> 3
Edwards and Bob Burg shall be entitled to serve on the Executive Committee, and
the Edwards Group shall be entitled to designate one member of the FM Board to
be elected to the Compensation Committee of the FM Board. Each Stockholder
entitled to vote for the election of directors to the FM Board agrees that it
will vote all of its Shares or execute consents, as the case may be, and take
all other necessary action (including causing FM to call a special meeting of
stockholders) in order to ensure that the composition of the Board is as set
forth in this Section 2.1.
2.2. Each Stockholder agrees that if, at any time, such Stockholder
is entitled to vote for the removal of one or more directors of FM, such
Stockholder will not vote any of its Shares in favor of the removal of any
director who shall have been designated or nominated pursuant to Section 2.1
unless such removal shall be for Cause or the Group entitled to designate or
nominate such director shall have consented to such removal in writing. Removal
for "Cause" shall mean removal of a director because of such director's (i)
willful and continued failure to substantially perform his duties as a director
of FM, (ii) willful conduct which is significantly injurious to FM, monetarily
or otherwise, or (iii) conviction for, or a guilty plea to, a felony.
2.3. If, as a result of death, disability, retirement, resignation,
removal (with or without cause) or otherwise, there shall exist or occur any
vacancy on FM's Board:
2.3.1. the Group entitled under Section 2.1 to designate or
nominate such director whose death, disability, retirement, resignation, removal
(with or without cause) or otherwise resulted in such vacancy may designate
another individual (the "Nominee") to fill such capacity and serve as a director
of FM. The selection of the Nominee by such Group shall be decided by the
Stockholders of such Group by a majority vote where the number of votes each
Stockholder has is determined by the number of Shares such Stockholder has; and
2.3.2. each Stockholder then entitled to vote for the election
of the Nominee as a director of FM agrees that it will vote all of its Shares or
execute a written consent, as the case may be, in order to ensure that the
Nominee be elected to the FM Board.
2.4. This Agreement is intended to bind the Stockholders only with
respect to the specific matters set forth herein, and shall not restrict the
Stockholders from taking any other action or failing to take any other action in
his capacity as an officer or director of FM in accordance with his fiduciary
duties.
SECTION 3. Termination. The provisions of this Agreement shall only be
effective on and after the Effective Date, and shall terminate and be of no
further force and effect three years from and after the Effective Date.
SECTION 4. No Voting Trusts. Each Stockholder agrees that it will not, and
will not permit any entity under any Stockholder's control to, deposit any of
its Shares in a voting trust or subject any of his Shares to any arrangement or
agreement with respect to the voting of such Shares, other than this Agreement.
-3-
<PAGE> 4
SECTION 5. No Proxy Solicitations. No Stockholder will, nor permit any
entity under its control to, (a) solicit proxies or become a "participant" in a
"solicitation" (as such terms are defined in Regulation l4A under the 1934 Act),
in opposition to or competition with the provisions of Section 2.1; (b) initiate
a stockholders' vote or action by consent of FM stockholders in opposition to or
in competition with the provisions of Section 2.1; or (c) become a member of a
"group" (as such term is used in Section 13(d) of the 1934 Act) with respect to
any voting securities of FM for the purpose of opposing or competing with the
provisions of Section 2.1.
SECTION 6. Transfer and Encumbrance. Each Stockholder agrees not to
transfer, sell or offer to transfer or sell any of the Shares beneficially owned
by such Stockholder to an "Affiliate" (as hereinafter defined) for a period of
three years, unless such "Affiliate" agrees to be bound by the terms hereof, and
signs an agreement in the form of Exhibit 6 hereof to such effect. "Affiliate"
means any person, firm or corporation directly or indirectly controlling,
controlled by, or under common control with, such person, firm or corporation.
For purposes of this definition, "control" (including, with correlative meaning,
the terms "controlling", "controlled by" and "under common control with"), as
applied to any person, firm or corporation, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of such person, firm or corporation, whether through the ownership of
voting securities, by contract or otherwise. "Affiliate" includes any spouse,
child or parent of a Stockholder. All certificates representing the Shares or
New Shares shall be endorsed on the reverse side thereof substantially as
follows:
BY THE TERMS OF A STOCKHOLDER AGREEMENT, CERTAIN RESTRICTIONS HAVE BEEN
PLACED UPON THE TRANSFER OF THE SHARES REPRESENTED BY THIS CERTIFICATE AND
SUCH SHARES ARE SUBJECT TO CERTAIN VOTING AGREEMENTS. THE COMPANY WILL
FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER OF THIS CERTIFICATE WITHOUT
CHARGE UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF
BUSINESS OR REGISTERED OFFICE.
SECTION 7. Additional Purchases. Each Stockholder agrees that it will not
purchase or otherwise acquire beneficial ownership of any shares of Common Stock
after the execution of this Agreement ("New Shares") nor will such Stockholder
acquire the right to vote or share in the voting of any shares of Common Stock,
other than the Shares, unless such Stockholder delivers to FM immediately after
such purchase or acquisition a written notice given to FM setting forth the
total number of New Shares. Each Stockholder also agrees that any New Shares
acquired or purchased by such Stockholder shall be subject to the terms of this
Agreement to the same extent as if they constituted Shares.
SECTION 8. Specific Performance. Each Stockholder hereto acknowledges that
it will be impossible to measure in money the damage to the other Stockholders
if a Stockholder hereto fails to comply with any of the obligations imposed by
this Agreement, that every such obligation is material and that, in the event of
any such failure, the other Stockholders will not have an adequate remedy at law
or in damages, and accordingly, each Stockholder hereto agrees
-4-
<PAGE> 5
that the issuance of an injunction or other equitable remedy is the appropriate
remedy for any such failure.
SECTION 9. Successors and Assigns. This Agreement and all obligations of
the Stockholders hereunder shall be binding upon and shall inure to the benefit
of the parties hereto and their respective successors and assigns and shall not
be assignable without the written consent of all the other parties hereto.
SECTION 10. Entire Agreement. This Agreement supersedes all prior
agreements among the parties hereto with respect to the subject matter hereof
and contains the entire agreement among the parties with respect to the subject
matter hereof. This Agreement may not be amended, supplemented or discharged,
and no provision hereof may be modified or waived, except expressly by an
instrument in writing signed by all the parties hereto. No waiver of any
provision hereof by any party shall be deemed a waiver by any other party nor
shall any such waiver be deemed a continuing waiver of any matter by such party.
SECTION 11. Miscellaneous.
11.1. The parties, being concerned that either party may obtain some
advantage by having the law of the jurisdiction of its principal place of
business apply, and agreeing in concept to have this Agreement subject to the
laws of a neutral jurisdiction, whose laws are perceived as being fair in
general to the business community at large, have determined and agreed as
follows: THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES
OF CONFLICT OF LAWS. EACH OF THE PARTIES AGREES THAT ANY LEGAL ACTION BETWEEN
THE PARTIES RELATING TO THE ENTRY INTO OR PERFORMANCE OF THIS AGREEMENT, OR THE
INTERPRETATION OR ENFORCEMENT OF TERMS HEREOF, SHALL BE BROUGHT IN A FEDERAL OR
STATE COURT LOCATED IN NEW CASTLE COUNTY, DELAWARE, HAVING JURISDICTION OF THE
SUBJECT MATTER THEREOF, AND EACH PARTY IRREVOCABLY CONSENTS TO PERSONAL
JURISDICTION IN ANY SUCH FEDERAL OR STATE COURT, WAIVES ANY RIGHT TO OBJECT TO
SUCH VENUE OR TO ASSERT THE DEFENSE OF FORUM NON-CONVENIENS, AND AGREES THAT
SERVICE OF PROCESS MAY BE MADE BY CERTIFIED OR REGISTERED MAIL ADDRESSED TO SUCH
PARTY AT ITS ADDRESS SET FORTH IN, OR DETERMINED IN ACCORDANCE WITH, SECTION
11.5 HEREOF.
11.2. If any provision of this Agreement or the application of any
such provision to any person or circumstances shall be held invalid by a court
of competent jurisdiction, the remainder of this Agreement, including the
remainder of the provision held invalid, or the application of such provision to
persons or circumstances other than those as to which it is held invalid, shall
not be affected.
11.3. This Agreement may be executed in one or more counterparts,
each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument.
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<PAGE> 6
11.4. All Section headings herein are for convenience of reference
only and are not part of this Agreement and no construction or inference shall
be derived therefrom.
11.5. Any notices or other communications required or permitted by
this Agreement shall be in writing and shall be delivered either by personal
delivery, by nationally recognized overnight courier service, by facsimile, by
first class mail or by registered or certified mail, return receipt requested,
addressed to the party at the address appearing below the signature of such
party, or to such other address as any party shall have previously designated to
the others by written notice given in the manner hereinabove set forth. Notices
shall be deemed given one day after being sent, if sent by overnight courier;
when delivered and receipted for, if hand delivered; when received, if sent by
facsimile or other electronic means or by first class mail; or when receipted
for (or upon the date of attempted delivery where delivery is refused or
unclaimed), if sent by certified or registered mail, return receipt requested.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date first above written.
FM PRECISION GOLF CORP.
By: /s/ Christopher A. Johnston
----------------------------------
Christopher A. Johnston, President
P.O. Box 25182
3490 Clubhouse Drive, Suite 102
Jackson, Wyoming 83001
STOCKHOLDERS:
Signature of Stockholder: /s/ Danny Edwards
----------------------------------
Danny Edwards
6724 North Whispering Hills Road
Paradise Valley, Arizona 85253
Shares owned: 1,133,605
----------------------------------
Signature of Stockholder: /s/ Drew M. Brown
----------------------------------
Drew M. Brown
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
Shares owned: 789
----------------------------------
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<PAGE> 7
Signature of Stockholder: DMB PROPERTY VENTURES
LIMITED PARTNERSHIP
By: DMB GP, Inc., General Partner
By: /s/ Drew M. Brown
----------------------------------
Its President
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
Shares owned: 414,771
----------------------------------
Signature of Stockholder: /s/ Mark N. Sklar
----------------------------------
Mark N. Sklar
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
Shares owned: 789
----------------------------------
Signature of Stockholder: /s/ Bennett Dorrance
----------------------------------
Bennett Dorrance, Trustee of the
Bennett Dorrance Trust dated April
21, 1989, as amended
4201 North 24th Street, Suite 120
Phoenix, Arizona 85016
Shares owned: 4,494
----------------------------------
Signature of Stockholder: /s/ Christopher A. Johnston
----------------------------------
Christopher A. Johnston
2784 Teton Pines Drive
Jackson, Wyoming 83001
Shares owned:
----------------------------------
Signature of Stockholder: RPJ/JAJ PARTNERS, LTD.
By: /s/ Richard P. Johnston
----------------------------------
Richard P. Johnston, General Partner
9651 North Pusch Ridge Place
Tucson, Arizona 85737
Shares owned:
----------------------------------
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<PAGE> 8
Signature of Stockholder: /s/ David E. Johnston
----------------------------------
David E. Johnston
1935 W. Muirhead Loop
Oro Valley, Arizona 85737
Shares owned:
Signature of Stockholder: BERENSON MINELLA & COMPANY, L.P.
By: /s/ Jeffrey L. Berenson
----------------------------------
Jeffrey L. Berenson, Managing General
Partner
667 Madison Avenue
New York, New York 10021
Shares owned:
----------------------------------
Signature of Stockholder: /s/ Kenneth J. Warren
----------------------------------
Kenneth J. Warren
5567 Caplestone Lane
Dublin, Ohio 43017
Shares owned:
----------------------------------
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<PAGE> 9
EXHIBIT 2
FORM OF AGREEMENT TO BE BOUND
[DATE]
Royal Precision, Inc.
Dear Sirs:
Reference is made to the Stockholder Agreement dated as of April __, 1997
(the "Agreement"), among Danny Edwards, Drew M. Brown, Mark N. Sklar, Bennett
Dorrance, Trustee of the Bennett Dorrance Trust dated April 21, 1989, as
amended, DMB Property Ventures Limited Partnership, Christopher A. Johnston,
RPJ/JAJ Partners, Ltd., David E. Johnston, Berenson Minella & Company, L.P.,
Kenneth J. Warren and FM Precision Golf Corp., now known as Royal Precision,
Inc. (the "Company"). Capitalized terms not defined herein have the meanings
assigned to them in the Agreement.
In consideration of the covenants and agreements contained in the
Agreement and the transfer of the common stock, par value $.001 per share, of
the Company (the "Shares") to the undersigned by a Stockholder, the undersigned
hereby confirms and agrees to be bound by all of the provisions thereof.
[The undersigned acknowledges that it is a condition to an effective
pledge of the Shares under the Agreement that the pledgee agree, and the
undersigned hereby confirms and agrees, that upon foreclosure of such pledge,
the undersigned will take the Shares subject to all of the restrictions
applicable to the pledgor under the Agreement.]**
This letter shall be construed and enforced in accordance with the laws of
the State of Delaware.
Very truly yours,
----------------------------------
[Transferee]
** Include in the case of a pledge
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