<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 1)
Under the Securities Exchange Act of 1934
SPECIALTY CATALOG CORP.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
84748Q-10-3
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(CUSIP Number)
Jeffrey S. Tullman, Esq.
1350 Avenue of the Americas
New York, New York 10019
(212) 541-6222
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 2, 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 ss.ss. 240.13d-1(e), 240.13d- 1(f) or 240.13d-1(g), check
the following box [ ].
*The remainder of this cover page shall be filed 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).
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SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 2 of 16 Pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Global Holdings Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX 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
Organized under the laws of the British Virgin Islands
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7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 244,655
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 244,655 (subject to the restrictions contained in a
stockholders' agreement more fully described herein)
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 3 of 16 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Oracle Investments & Holdings Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX 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
Organized under the laws of the British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 244,656
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 244,656 (subject to the restrictions contained in a
stockholders' agreement more fully described herein)
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 4 of 16 Pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ionic Holdings LDC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX 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
Organized under the laws of the Cayman Islands
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7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 244,655
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 244,655 (subject to the restrictions contained in a
stockholders' agreement more fully described herein)
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 5 of 16 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marion Naggar Children's Settlement
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX 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
Organized under the laws of England and Wales
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 733,966
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
733,966
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 6 of 16 Pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Abacus (CI) Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX 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
Organized under the laws of Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 733,966
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
733,966
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 84748Q-10-3 Page 5 of 16 Pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Abacus Trustees (Jersey) Limited
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
N/A (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(E)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 733,966
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
733,966
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
733,966
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Statement amends the Statement on Schedule 13D filed with the Securities
and Exchange Commission (the "Commission") by First Global Holdings Limited,
Oracle Investments & Holdings Limited, Ionic Holdings LDC, Marion Naggar
Children's Settlement, Abacus (CI) Limited and Abacus Trustees ( Jersey)
Limited, with respect to their beneficial ownership of the Common Stock, par
value $0.01 per share ("Common Stock"), of Specialty Catalog Corp., Inc., a New
York corporation (the "Company"). Unless otherwise defined herein, all
capitalized terms used herein shall have the meanings ascribed to them in the
previous filing of the Schedule 13D.
Information contained in this statement on Schedule 13D is as of the date
hereof, unless otherwise expressly provided herein.
Item 1. Security and Issuer.
(i) Name and Issuer: Specialty Catalog Corp.
(ii) Address of the Principal Executive Offices of Issuer: 31 Bristol
Drive, South Easton, MA 02375.
(iii) Title of Class of Equity Securities to which this Statement
relates: Common Stock, $0.01 par value (the "Common Stock").
Item 2. Identity and Background.
(a) This statement is being filed on behalf of First Global Holdings
Limited ("First Global"), Oracle Investments & Holdings Limited
("Oracle"), Ionic Holdings LDC ("Ionic"), Marion Naggar
Children's Settlement (the "Trust"), Abacus (CI) Limited, in its
capacity as trustee of the Trust and Abacus Trustees (Jersey)
Limited, in its capacity as trustee of the Trust (collectively
the "Reporting Persons").
(b) The address of First Global and Oracle is:
Geneva Place
2nd Floor
Wickham's Cay
P.O. Box 3339
Road Town
Tortola
British Virgin Islands
The address of Ionic is:
Butterfield House
Fort Street
Box 219
George Town, Grand Cayman
Cayman Islands
<PAGE>
The address of Abacus (CI) Limited, Abacus Trustees (Jersey)
Limited and the Trust is:
La Motte Chambers
St Helier
Jersey Channel Islands
JE1 1BJ
(c) The Trust was formed for the benefit of Marion Naggar's
children. Marian is not a beneficiary or trustee of the Trust.
First Global, Oracle and Ionic are investment vehicles for the
Trust. Abacus (CI) Limited and Abacus Trustees (Jersey) Limited
are the trustees of the Trust.
(d)(e) During the last five years, the Reporting Persons (i) have not
been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) and (ii) have not been a
party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding was
or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) Each of Oracle and First Global were organized under the laws of
the British Virgin Islands. Ionic was organized under the laws
of the Cayman Islands. The Trust was organized under the laws of
England and Wales. Abacus (CI) Limited and Abacus Trustees
(Jersey) Limited are organized under the laws of Jersey.
Item 4. Purpose of Transaction.
As indicated, this filing does not relate to a purchase of the
Company's Common Stock. The Reporting Persons have initially held their shares
of Common Stock for investment purposes. More recently, as reported on the
Schedule 13D, Golub Associates Incorporated ("GAI") and certain related parties
have engaged in discussion with the Company, its management and Board of
Directors concerning alternative transactions that could result in a change of
ownership or structure of the Company. On December 2, 1999, GAI and the Company
entered into a letter agreement (the "Letter Agreement") pursuant to which an
entity to be formed by GAI, its affiliates and certain other participants would
acquire the Company in a merger or similar transaction (the "Acquisition"),
whereby the Issuer's shareholders would receive cash consideration of $5.00 per
share upon the consummation of the Acquisition. The Acquisition would result in
the Company becoming privately owned, and its Common Stock no longer being
publicly traded. The Acquisition is expected to result in substantial changes in
the composition of the Board of Directors.
As first reported on the Schedule 13D, First Global, Oracle and Ionic
entered into a stockholders' agreement (the "Stockholders' Agreement") with GAI
pursuant to which each of the Reporting Persons has agreed, among other things,
to vote its shares of Common Stock in favor of the Acquisition and not to
transfer its shares of Common Stock during the term of the Stockholders'
<PAGE>
Agreement. Each of Ionic, First Global and Oracle expect to participate with GAI
in the Acquisition.
Item 6. Contracts, Arrangements, Understandings or Relationships with
respect to Securities of the Issuer.
It is expected that each of Ionic, Oracle and First Holdings will
participate with Golub in the Acquisition of the Company, by directly or
indirectly contributing a portion of their current ownership interests or the
proceeds thereof to the acquiring company, or otherwise obtaining an equity
interest the surviving company. The terms and conditions of such arrangements
are the subject of ongoing discussions and negotiations.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
First Global Holdings Limited
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
Ionic Holdings LDC
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
Oracle Investments and Holdings
Limited
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
Marion Naggar Children's Settlement
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
Abacus (C.I.) Limited
Abacus Trustees (Jersey)
Limited Trustees
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
Abacus Trustees (Jersey) Limited
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 3, 2000
Abacus (CI) Limited
By: /s/ William T. Wilson
--------------------------------
Name: William Thomas Wilson
Title: Director
