SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13d-2
UNDER THE SECURITIES EXCHANGE ACT 1934
(Amendment No. )*
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Global Light Telecommunications Inc.
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(Name of Issuer)
Common Shares
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(Title of Class of Securities)
36228 41 01
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(CUSIP Number)
October 5, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
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* 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).
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 the disclosures provided
in a prior cover page.
Page 1 of 8 pages
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CUSIP No. 36228 41 01 13G Page 2 of Pages 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
JAMES G. DINAN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5 SOLE VOTING POWER
5,000 Common Shares
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6 SHARED VOTING POWER
2,023,000 Common Shares
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7 SOLE DISPOSITIVE POWER
5,000 Common Shares
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8 SHARED DISPOSITIVE POWER
2,023,000 Common Shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,028,000 Common Shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.6%
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TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 8 pages
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CUSIP No. 36228 41 01 13G Page 3 of Pages 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
YORK INVESTMENT LIMITED
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Commonwealth of the Bahamas
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5 SOLE VOTING POWER
1,069,900 Common Shares
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6 SHARED VOTING POWER
0 Common Shares
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7 SOLE DISPOSITIVE POWER
1,069,900 Common Shares
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8 SHARED DISPOSITIVE POWER
0 Common Shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,069,900 Common Shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
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TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 8 pages
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SCHEDULE 13G
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ITEM 1(A). NAME OF ISSUER:
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Global Light Telecommunications Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
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999 West Hastings Street, Suite 1030
Vancouver, British Columbia V6C 2W2
ITEM 2.(A),
(B) AND (C) NAME OF PERSON FILING; ADDRESS
OF PRINCIPAL BUSINESS OFFICE; CITIZENSHIP:
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This schedule is being filed jointly by James G.
Dinan, an individual with United States
citizenship ("Dinan"), and York Investment
Limited, a company organized under the laws of the
Commonwealth of the Bahamas ("York Investment").
Dinan is the President of Dinan Management
Corporation which acts as the Sub-Manager of York
Investment. Dinan also is filing this schedule on
behalf of certain other funds and accounts (the
"Managed Accounts") over which he holds
discretionary investment authority. See Item 6
Ownership of More Than Five Percent on Behalf of
Another Person. Dinan is the President and sole
shareholder of JGD Management Corp. ("JGD
Management"), a Delaware corporation, which
manages the Managed Accounts. The principal
business address of each of Dinan and York
Investment is 350 Park Avenue, 4th Floor, New
York, New York 10022. Dinan controls Dinan
Management LLC which is the general partner of
certain funds which are Managed Accounts.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
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Common Shares
ITEM 2(E). CUSIP NUMBER:
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36228 41 01
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B)
OR (C), CHECK WHETHER THE PERSON FILING IS A:
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(a) [ ] Broker or dealer registered under Section 15
of the Exchange Act.
(b) [ ] Bank is defined in Section 3(a)(6) of the
Exchange Act.
(c) [ ] Insurance company as defined in
Section 3(a)(19) of the Exchange Act.
(d) [ ] Investment company registered under Section 8
of the Investment Company Act.
(e) [ ] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in
Section 3(b) of the Federal Deposit Insurance
Act;
(i) [ ] A church plan that is excluded from the
definition of an investment company under
Section 3(c)(14) of the Investment Company
Act;
Page 4 of 8 pages
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(j) [ ] Group, in accordance with
Rule 13d-1(b)(1)(ii)(J).
If this statement is file pursuant to Rule 13d-1(c),
check this box. [ ]
ITEM 4.(A),
(B) AND (C) OWNERSHIP.
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Dinan beneficially owns 2,028,000 common shares of Global
Light Telecommunications Inc. (the "Common Shares"), which number
represents approximately 11.6% of the issued and outstanding
Common Shares. Of the Common Shares beneficially owned by Dinan,
Dinan exercises sole voting and dispositive power over 5,000
Common Shares, and he exercises shared voting and dispositive
power over 2,028,000 Common Shares.
York Investment beneficially owns 1,069,900 Common Shares,
which represents approximately 6.1% of the issued and outstanding
Common Shares. Of the Common Shares beneficially owned by York
Investment, York Investment exercises sole voting and dispositive
power over 1,069,900 Common Shares, and it exercises shared
voting and dispositive power over no Common Shares.
All percentages of Common Shares have been calculated based
upon information contained in Global Light Telecommunications
Inc.'s Registration Statement on Form 40-F as filed with the
Securities and Exchange Commission on July 24, 1998.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
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If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following, [ ].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON.
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Dinan holds discretionary investment authority over the
Managed Accounts. No Managed Account beneficially owns more than
five percent (5%) of the issued and outstanding shares of Common
Stock.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
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Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP.
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Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
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Not applicable.
Page 5 of 8 pages
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ITEM 10. CERTIFICATION.
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Not applicable.
SIGNATURE
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After reasonable inquiry and to the best of the knowledge
and belief of the undersigned Reporting Person, the undersigned
Reporting Person certifies that the information set forth in this
statement with respect to it, or him, as the case may be, is
true, complete and accurate.
YORK INVESTMENT LIMITED
By: Dinan Management Corporation,
Sub-Manager
Dated: February 16, 1999 /s/ James G. Dinan
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By: James G. Dinan, President
Page 6 of 8 pages
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SIGNATURE
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After reasonable inquiry and to the best of the knowledge
and belief of the undersigned Reporting Person, the undersigned
Reporting Person certifies that the information set forth in this
statement with respect to it, or him, as the case may be, is
true, complete and accurate.
Dated: February 16, 1999 /s/ James G. Dinan
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James G. Dinan
<PAGE>
EXHIBIT INDEX
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EXHIBIT 1 AGREEMENT OF JOINT FILING
EXHIBIT 1
AGREEMENT OF JOINT FILING, dated as of February 16, 1999,
between James G. Dinan and York Investment Limited.
In accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, as amended, the persons named below agree
to the joint filing on behalf of each of them to a Schedule 13G
(including subsequent amendments thereto) with respect to the
Common Shares of Global Light Telecommunications Inc. The joint
filing shall be signed by each of the persons named below and
shall include a statement that neither such person is making any
representations with respect to information included in such
filing which has been furnished by another. This Joint Filing
Agreement shall be included as an exhibit to such jointly filed
Schedule 13G. In evidence hereof, the undersigned, being duly
authorized, hereby execute this Joint Filing Agreement as of this
16th day of February, 1999.
YORK INVESTMENT LIMITED
Dinan Management Corporation,
Sub-Manager
By: /s/ James G. Dinan
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James G. Dinan, President
/s/ James G. Dinan
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James G. Dinan
Page 8 of 8 pages
