UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
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HORIZON GROUP PROPERTIES, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
44041U-10-2
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(CUSIP Number)
Mr. David Tinkham, Chief Financial Officer
Horizon Group Properties, Inc.
5000 Hakes Drive, Norton Shores, MI 49441, 312/917-4288
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 30, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or 4), check the following
box ___.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
<PAGE>
CUSIP NO. 44041U-10-2
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1) Names of Reporting Persons S.S. or IRS Identification Nos.
of Above Person ###-##-####
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) PF
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5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
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6) Citizenship or Place of Organization United States
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Number of (7) Sole Voting Power 229,074
Shares Bene- ----------------------
ficially (8) Shared Voting Power 0
Owned by ----------------------
Each (9) Sole Dispositive Power 229,074
Reporting ----------------------
Person With (10) Shared Dispositive Power 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 229,074
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12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions)
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13) Percent of Class Represented by Amount in Row (11) 8.2%
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14) Type of Reporting Person (See Instructions) IN
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<PAGE>
Item 1. Security and Issuer.
The class of equity securities to which this Schedule 13D relates is the
shares of Common Stock .01 par value (the "Shares") of Horizon Group
Properties, Inc. The principal executive offices of Horizon Group Properties,
Inc. is located at 5000 Hakes Drive, Norton Shores, MI 49441.
Item 2. Identity and Background.
This statement is being filed by Maurice A. Halperin. My business
address is 2500 North Military Trail, Suite 225, Boca Raton, Florida 33431.
I am a private investor. During the last five years, I have not been
convicted in a criminal proceeding (excluding traffic violations or other
similar misdemeanors) and I have not been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction which resulted in
my being subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
I am a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
The source of the funds for the purchase of the Shares was my personal
funds. The total amount of money used to purchase the Shares was $813,340. In
addition, I received 9,174 Shares on June 15, 1998 as a spin-off dividend
that resulted following the merger of Prime Retail, Inc. and the former
company known as Horizon Group, Inc.
Item 4. Purpose of Transaction.
This Amendment No. 2 to my Schedule 13D is being filed because I
increased my beneficial ownership of the outstanding common stock by 1%.
The purpose of the acquisition of the shares is investment. I intend to make
additional purchases of the Shares in the next sixty days, depending on
market conditions and if funds are available.
Item 5. Interest in Securities of the Issuer.
I beneficially own 229,074 Shares or approximately 8.2 percent of the
outstanding Shares. I have the sole power to vote and dispose of the Shares.
There is no shared power to vote or dispose of the Shares I own.
During the period from February 23, 1999 to April 30, 1999, I purchased
a total of 33,400 Shares in the NASDAQ Small Capitalization Market in seven
open market transactions. The Shares were purchased on my behalf by CIBC
Oppenheimer Corp., a securities broker-dealer. The table below lists the
transaction date for each transaction, number of Shares purchased, price per
Share and total price.
<TABLE>
Transaction Number of Shares Price
Date Purchased Per Share Total Purchase Price
- ----------- ---------------- ---------- ---------------------
<S> <C> <C> <C>
03/25/99 2,300 4 3/8 $ 10,062.50
03/25/99 2,000 4 1/2 9,000.00
03/26/99 6,000 4 1/2 28,323.00
03/29/99 6,000 4 3/8 26,325.00
04/06/99 4,800 4 19,275.00
04/16/99 500 4 1/8 2,137.50
04/30/99 11,800 3.40075 40,128.85
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and accurate.
DATE May 6, 1999.
/S/ Maurice A. Halperin
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Signature
Maurice A. Halperin
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Name and Title
The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be or printed
beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).
