TRANSACT TECHNOLOGIES INC
SC 13D/A, 1998-10-23
COMPUTER PERIPHERAL EQUIPMENT, NEC
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                      SECURITIES AND EXCHANGE COMMISSION
                                       
                            Washington, D.C. 20549
                                       
                                 SCHEDULE 13D
                                       
                   Under the Securities Exchange Act of 1934
                              (Amendment No. 5)*
                                       
                      TRANSACT TECHNOLOGIES INCORPORATED
                               (Name of Issuer)
                                       
                                 COMMON STOCK
                        (Title of Class of Securities)
                                       
                                   89291810
                                (CUSIP Number)


                                Seth M. Lukash
                            c/o Tridex Corporation
                                61 Wilton Road
                              Westport, CT  06880
                 (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)


                               October 14, 1998
            (Date of Event which Requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to 
report the acquisition which is the subject to this Schedule 13D, and is 
filing this schedule because of Rule 13d-1(b) (3) or (4), check the following 
box [  ].

Note:  Six copies of this statement, including all exhibits, should be filed 
with the Commission.  See Rule 13d-1(a) for other parties to whom copies are 
to be sent.

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

The information required on the remainder for this cover page shall not be 
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange 
Act of 1934 ("Act") or otherwise subject

<PAGE>

to the liabilities of that section of the Act but shall be subject to all 
other provisions of the Act (however, see the Notes).

CUSIP No. 89291810

1)   Names of Reporting Persons and Social Security Number: Seth M. Lukash
###-##-####

2)   Check the Appropriate Box if a Member of a Group (See Instructions)

          (a)  N/A
          (b)  N/A

3)   SEC Use Only

4)   Source of Funds:  All of the shares owned by the reporting person were 
acquired in a distribution by Tridex Corporation ("Tridex") to its 
stockholders on March 31, 1997 of approximately one (1) share of the Issuer 
for each share of Tridex owned by such stockholder.

5)   Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e).

6)   Citizenship or Place of Organization: USA

7)   Sole Voting Power: 190,269 Common Shares

8)   Shared Voting Power: N/A

9)   Sole Dispositive Power: 190,269 Common Shares

10)  Shared Dispositive Power: N/A

11)  Aggregate Amount Beneficially Owned by Each Reporting Person: 190,269 
Common Shares

12)  Check if the Aggregate Amount in Row (11) Excludes Certain Shares: N/A

13)  Percent of Class Represented by Amount in Row (11): 3.09%

14)  Type of Reporting Person: IN

Item 1.    Security and Issuer
      
     The Statement of Seth M. Lukash on Schedule 13D dated February 25, 1998, 
as amended and supplemented by Amendment No. 1 dated March 12, 1998, 
Amendment No. 2 dated March 13, 1998, Amendment No. 3 dated March 24, 1998 
and Amendment No. 4 dated September 16, 1998, in respect of the common stock 
$0.01 par value per share ("Common Stock") of Transact

<PAGE>

Technologies Incorporated (the "Issuer") whose principal executive offices 
are located at 7 Laser Lane, Wallingford, Connecticut 06492, is hereby 
further amended and supplemented as follows:

Item 5.    Interest in Securities of the Issuer

Item 5 is hereby amended and supplemented as follows:

     "On October 13, 14 and 15, 1998, the reporting person sold an aggregate 
335,050 shares of Common Stock of the Issuer in four block sales to the 
Issuer as set forth in the table below.  These shares of Common Stock were 
maintained by the reporting person's broker in an account, which included 
other securities owned by the reporting person, and constituted with such 
other securities, collateral for borrowing by the reporting person from said 
broker. Following such sales, the reporting person ceased to be the 
beneficial owner of more than five percent of the outstanding shares of 
Common Stock of the Issuer, based upon 6,166,300 shares of Common Stock 
outstanding as of July 31, 1998, as reported in the Issuer's report on Form 
10-Q for the quarterly period ended June 27, 1998.

<TABLE>
<CAPTION>
     
     Sale Date          Number of Shares      Average Price Per Share
     ---------          ----------------      -----------------------
<S>                      <C>                    <C>
                                                              
  October 13, 1998            7,900                $3.000
  October 14, 1998           82,000                 3.171875
  October 14, 1998          200,000                 3.750
  October 15, 1998           45,150                 3.09375"

</TABLE>

                                   SIGNATURE

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

Dated: October 23, 1998                 /s/ Seth M. Lukash
                                        ------------------
                                        Seth M. Lukash





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