UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
FACTORY CARD OUTLET CORP.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
141400101
(CUSIP Number)
Check the following box if a fee is being paid with this statement. (A fee is
not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
* 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 in 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 1 of 6 Pages
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SCHEDULE 13G
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CUSIP No. 141400101 Page 2 of 6 Pages
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NAME OF REPORTING PERSON
1 SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Garlen Investments Limited
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* N/A (a)
2 (b)
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
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SOLE VOTING POWER
NUMBER OF 5 1,131,708
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,131,708
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PERSON 8 SHARED DISPOSITIVE POWER
WITH -0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,131,708
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.14%
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12 TYPE OF REPORTING PERSON*
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Item 1.
(a) Name of Issuer
Factory Card Outlet Corp.
(b) Address of Issuer's Principal Executive Offices
745 Birginal Drive
Bensenville, Illinois 60106-1212
Item 2.
(a) Name of Person Filing
Garlen Investments Limited
(b) Address of Principal Business Office
c/o Jarir Investments
P.O. Box 3196
Riyadh 11471
Saudi Arabia
Attn: Mr. Muhammed A. Al-Agil
(c) Citizenship or Place of Organization
(d) Title of Class of Securities
Common Stock, par value $0.01 per share
(e) CUSIP Number
141400101
Item 3.
Not applicable
Page 3 of 6 Pages
<PAGE>
Item 4.
(a) Amount Beneficially Owned
1,131,708*
(b) Percent of Class
16.14%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
1,131,708
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the disposition of:
1,131,708
(iv) shared power to dispose or to direct the disposition of:
-0-
Item 5. Ownership of Five Percent or Less of a Class
Not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable
<PAGE>
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 a Group
Not applicable
Item 10. Certification
Not applicable
Page 5 of 6 Pages
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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.
GARLEN INVESTMENTS LIMITED
By: /S/ MUHAMMAD AL-AGIL
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Name: Muhammad Al-Agil
Title:Director
Date: February 11, 1997
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* Garlen Investments Limited is beneficially owned by Mandataria Fiduciary
Limited, as trustee of a trust for the benefit of Muhammad Abdul Rahman Al-Agil,
Nasser Abdul Rahman Al-Agil, Abdullah Abdul Rahman Al-Agil, Abdulkarim Abdul
Rahman Al-Agil and Abdulsalam Abdul Rahman Al-Agil.
Page 4 of 6 Pages
