UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934 1
INTELLIGENT POLYMERS LIMITED
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(Name of Issuer)
COMMON SHARES, PAR VALUE $0.01 PER SHARE
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(Title of Class of Securities)
G48029105
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(CUSIP Number)
AUGUST 11, 2000
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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)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
------------------------
1 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.
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. G48029105
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1 NAME OF REPORTING PERSONS
S.S. or 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
U.S.A.
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NUMBER OF 5. SOLE VOTING POWER
SHARES -0-
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 267,900 shares
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 267,900 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,900 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2
<PAGE>
CUSIP No. G48029105
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1 NAME OF REPORTING PERSONS
S.S. or 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 5. SOLE VOTING POWER
SHARES 135,240 shares
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 135,240 shares
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,240 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.6%
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3
<PAGE>
CUSIP No. G48029105
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
York Capital Management, L.P.
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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
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 63,856 shares
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 63,856 shares
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
63,856 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4
<PAGE>
CUSIP No. G48029105
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
York Select, L.P.
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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
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 25,100 shares
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 25,100 shares
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,100 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 5
<PAGE>
CUSIP No. G48029105
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
York Institutional Partners, L.P.
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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
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 12,868 shares
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 12,868 shares
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,868 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 6
<PAGE>
CUSIP No. G48029105
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
York Pacific Investors Unit Trust
--------------------------------------------------------------------------------
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
Cayman Islands
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NUMBER OF 5. SOLE VOTING POWER
SHARES 12,383 shares
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 12,383 shares
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,383 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
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12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 7
<PAGE>
SCHEDULE 13G
------------
ITEM 1(A). NAME OF ISSUER:
--------------
Intelligent Polymers Limited
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
-----------------------------------------------
Clarendon House
2 Church Street
Hamilton, HM 11 Bermuda
ITEM 2(A)
& ITEM 2(C). NAME OF PERSON FILING:
---------------------
This Schedule is being filed jointly by the following reporting persons
(hereinafter sometimes collectively referred to as the "Reporting Persons")
pursuant to an Agreement of Joint Filing attached hereto as Exhibit A:
(i) James G. Dinan ("Dinan"), an individual who is the Senior Managing
Member and holder of a controlling interest in both Dinan Management,
L.L.C. ("Dinan Management"), a Delaware limited liability company, and
York Offshore Holdings, L.L.C. ("York Offshore"), a New York limited
liability company. Dinan is a citizen of the United States.
(ii) York Investment Limited ("York Investment"), a corporation of The
Commonwealth of The Bahamas.
(iii) York Capital Management, L.P. ("York Capital"), a Delaware limited
partnership.
(iv) York Select, L.P. ("York Select"), a Delaware limited partnership.
(v) York Institutional Partners, L.P. ("York Institutional"), a Delaware
limited partnership.
(vi) York Pacific Investors Unit Trust ("York Pacific"), a trust organized
under the laws of the Cayman Islands.
Dinan Management Corporation ("DMC"), a Delaware corporation, is the
sub-manager of York Investment. Dinan is the President and controlling
shareholder of DMC.
Dinan Management acts as General Partner of York Capital, York Select and
York Institutional. Each of York Capital, York Select and York Institutional is
a privately owned investment limited partnership.
York Offshore is the manager of York Pacific.
Dinan is also filing this statement on behalf of certain other funds and
accounts ("Managed Accounts") over which he has discretionary investment
authority. Dinan is the President and sole shareholder of JGD Management Corp.,
a Delaware corporation, which manages the Managed Accounts.
Page 8
<PAGE>
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
------------------------------------
The address of each of Dinan, York Capital, York Select and York
Institutional is:
350 Park Avenue
4th Floor
New York, New York 10022
The address of York Investment for purposes of this filing is:
York Investment Limited
c/o York Capital Management
350 Park Avenue
4th Floor
New York, New York 10022
The address of York Pacific for purposes of this filing is:
York Pacific Investors Unit Trust
c/o York Capital Management
350 Park Avenue
4th Floor
New York, New York 10022
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
----------------------------
Common Shares, par value $0.01 per share
ITEM 2(E) CUSIP NUMBER:
------------
G4802910
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B) OR
--------------------------------------------------------
13D-2(B) OR 13D-2(C), CHECK WHETHER THE PERSON FILING IS A:
----------------------------------------------------------
(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);
Page 9
<PAGE>
(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 (c)(14) of the
Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
---------
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(i) Dinan
(a) Amount beneficially owned: 267,900 shares.
--------------
(b) Percent of class: 7.2%.
-----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote -0-.
---
(ii) Shared power to vote or direct the vote 267,900 shares.
--------------
(iii) Sole power to dispose or direct the disposition of -0-.
---
(iv) Shared power to dispose or direct the disposition of
267,900 shares.
--------------
(ii) York Investment
(a) Amount beneficially owned: 135,240 shares.
--------------
(b) Percent of class: 3.6%.
----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote 135,240 shares.
--------------
(ii) Shared power to vote or direct the vote -0-.
---
(iii) Sole power to dispose or direct the disposition of
135,240 shares.
--------------
(iv) Shared power to dispose or direct the disposition of -0-.
---
(iii) York Capital
(a) Amount beneficially owned: 63,856 shares.
-------------
(b) Percent of class: 1.7%.
----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote 63,856 shares.
-------------
Page 10
<PAGE>
(ii) Shared power to vote or direct the vote -0-.
---
(iii) Sole power to dispose or direct the disposition of
63,856 shares.
-------------
(iv) Shared power to dispose or direct the disposition of -0-.
---
(iv) York Select
(a) Amount beneficially owned: 25,100 shares.
-------------
(b) Percent of class: 0.7%.
----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote 25,100 shares.
-------------
(ii) Shared power to vote or direct the vote -0-.
---
(iii) Sole power to dispose or direct the disposition of
25,100 shares.
-------------
(iv) Shared power to dispose or direct the disposition of -0-.
---
(v) York Institutional
(a) Amount beneficially owned: 12,868 shares.
-------------
(b) Percent of class: 0.3%.
----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote 12,868 shares.
-------------
(ii) Shared power to vote or direct the vote -0-.
---
(iii) Sole power to dispose or direct the disposition of
12,868 shares.
-------------
(iv) Shared power to dispose or direct the disposition of -0-.
---
(vi) York Pacific
(a) Amount beneficially owned: 12,383 shares.
-------------
(b) Percent of class: 0.3%.
----
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote 12,383 shares.
-------------
(ii) Shared power to vote or direct the vote -0-.
---
(iii) Sole power to dispose or direct the disposition of
12,383 shares.
-------------
(iv) Shared power to dispose or direct the disposition of -0-.
---
Page 11
<PAGE>
The number of shares beneficially owned and the percentage of outstanding
shares represented thereby, for each of the Reporting Persons, have been
computed in accordance with Rule 13d-3 under the Securities Exchange Act of
1934, as amended. The percentage of ownership described above is based on
3,737,500 shares of Common Shares outstanding as reported in Intelligent
Polymers Limited's Annual Report on Form 20-F filed with the Securities and
Exchange Commission on December 30, 1999.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
--------------------------------------------
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.
---------------------------------------------------------------
The Managed Accounts have the right to receive dividends from, or the
proceeds from the sale of, the Common Shares.
ITEM 7. IDENTIFICATION 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.
---------------------------------------------------------
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
------------------------------
Not applicable.
Page 12
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
/s/ James G. Dinan
----------------------------------------
James G. Dinan
Page 13
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
YORK INVESTMENT LIMITED
By: DINAN MANAGEMENT CORPORATION,
Sub-Manager
By: /s/ James G. Dinan
------------------------------------
James G. Dinan
President
Page 14
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
YORK CAPITAL MANAGEMENT, L.P.
By: DINAN MANAGEMENT, L.L.C.
By: /s/ James G. Dinan
------------------------------------
James G. Dinan
Senior Managing Member
Page 15
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
YORK SELECT, L.P.
By: DINAN MANAGEMENT, L.L.C.
By: /s/ James G. Dinan
------------------------------------
James G. Dinan
Senior Managing Member
Page 16
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
YORK INSTITUTIONAL PARTNERS, L.P.
By: DINAN MANAGEMENT, L.L.C.
By: /s/ James G. Dinan
------------------------------------
James G. Dinan
Senior Managing Member
Page 17
<PAGE>
ITEM 10. CERTIFICATION.
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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.
Dated: August 21, 2000
YORK PACIFIC INVESTORS UNIT TRUST
By: YORK OFFSHORE HOLDINGS, L.L.C.
By: /s/ James G. Dinan
------------------------------------
James G. Dinan
Senior Managing Member
Page 18
