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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
PALEX, INC.
(Name of Issuer)
COMMON STOCK
(Title of class of securities)
696368109
(CUSIP Number)
THE GIBSON 1982 REVOCABLE TRUST
C/O GREGG C. GIBSON, TRUSTEE
47 South Oak Avenue
San Anselmo, California 94960
with a copy to:
Richard L. Greene, Esq.
Greene Radovsky Maloney & Share LLP
Four Embarcadero Center, Suite 4000
San Francisco, California 94111
(415) 981-1400
(Name, address and telephone number
of person authorized to receive
notices and communications)
AUGUST 1, 1997
(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 statement, and is filing this
statement because of Rule 13d-1(b)(3) or (4), check the following box: [ ]
27648/0802
08/07/97
116672
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SCHEDULE 13D
CUSIP No. 696368109
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1 NAME OF REPORTING PERSONS:
THE GIBSON 1982 REVOCABLE TRUST
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(See Instructions) (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions):
S/C
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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
U.S.A.
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7 SOLE VOTING POWER:
669,204
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER:
BENEFICIALLY 0
OWNED BY ----------------------------------------------------------
GIBSON 9 SOLE DISPOSITIVE POWER:
1982 669,204
REVOCABLE ----------------------------------------------------------
TRUST 10 SHARED DISPOSITIVE POWER:
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY GIBSON REVOCABLE TRUST
669,204
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12 CHECK BOX 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)
5.1%
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14 TYPE OF REPORTING PERSON (See Instructions):
OO
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7 SOLE VOTING POWER:
26,956
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER:
BENEFICIALLY 669,204
OWNED BY ----------------------------------------------------------
GREGG C. 9 SOLE DISPOSITIVE POWER:
GIBSON 26,956
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
669,204
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY GREGG C. GIBSON
696,126
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12 CHECK BOX 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)
5.3%
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14 TYPE OF REPORTING PERSON (See Instructions):
OO
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7 SOLE VOTING POWER:
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER:
BENEFICIALLY 669,204
OWNED BY ----------------------------------------------------------
JUDITH 9 SOLE DISPOSITIVE POWER:
GIBSON 0
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10 SHARED DISPOSITIVE POWER:
669,204
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY JUDITH GIBSON
669,204
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12 CHECK BOX 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)
5.1%
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14 TYPE OF REPORTING PERSON (See Instructions):
OO
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Item 1. Security and Issuer.
Class of Securities: Common Stock
Issuer: PalEx, Inc.
Principal Address: 5444 Westheimer, Suite 1100
Houston, Texas 77056
Item 2. Identity and Background
(a) Reporting Person: Gibson 1982 Revocable Trust
(b) Principal Business Address: 47 South Oak Avenue
San Anselmo, CA 94960
(c) N/A
(d) No
(e) No
(f) N/A
AND
(a) Reporting Person: Gregg C. Gibson, Trustee
(b) Principal Business Address: 47 South Oak Avenue
San Anselmo, CA 94960
(c) Principal Occupation: President, Sonoma Pacific
Company
2100 Embarcadero
Oakland, CA 94606
(d) No
(e) No
(f) Citizenship: USA
AND
(a) Reporting Person: Judith Gibson, Trustee
(b) Principal Business Address: 47 South Oak Avenue
San Anselmo, CA 94960
(c) Principal Occupation: None
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(d) No
(e) No
(f) Citizenship: USA
Item 3. Source and Amount of Funds or Other Consideration.
Pursuant to a merger by and among Sonoma Pacific Company, Sonoma
Pacific Acquisition, Inc. and PalEx, Inc. (the "Issuer") and certain related
transactions, The Gibson 1982 Revocable Trust received, in the aggregate,
696,160 shares of the Issuer's Common Stock in exchange for shares of Sonoma
Pacific Company, Salinas Pacific Company, and certain real property.
Item 4. Purpose of Transactions.
Neither Gregg C. Gibson nor Judith Gibson has any present
intention to effect:
(1) an extraordinary transaction, such as a merger, reorganization or
liquidation involving the Issuer or any of its subsidiaries;
(2) a change in the present board of directors or management of the
Issuer, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board;
(3) any material change in the present capitalization or dividend
policy of the Issuer;
(4) any other material change in the Issuer's business or corporate
structure;
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(5) changes in the Issuer's charter or bylaws or other actions which
may impede the acquisition of control of the Issuer;
(6) causing the common stock of the Issuer to cease to be authorized to
be quoted on NASDAQ;
(7) terminating registration of the Issuer's shares pursuant
to Section 12(g)(4) of the Securities Exchange Act; or
(8) Any similar action to those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) - (b) As of August 7, 1997, the number of shares beneficially
owned by Gibson 1982 Revocable Trust was as follows:
Beneficial Ownership 669,204
Percentage of Class 5.1%
Sole Voting Power 669,204
Shared Voting Power -0-
Sole Dispositive Power 669,204
Shared Dispositive Power -0-
(a) - (b) As of August 7, 1997, the number of shares beneficially
owned by Judith Gibson, trustee was as follows:
Beneficial Ownership 669,204
Percentage of Class 5.1%
Sole Voting Power -0-
Shared Voting Power 669,204
Sole Dispositive Power -0-
Shared Dispositive Power 669,204
(a) - (b) As of August 7, 1997, the number of shares beneficially
owned by Gregg C. Gibson, in individual and as Trustee was as follows:
Beneficial Ownership 696,160
Percentage of Class 5.3%
Sole Voting Power 26,956
Shared Voting Power 669,204
Sole Dispositive Power 26,956
Shared Dispositive Power 669,204
(c) - (e) Not applicable.
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Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
Gregg C. and Judith Gibson are each trustees of The Gibson 1982
Revocable Trust, which Trust holds 696,204 shares of the Issuer's Common Stock.
Each of the trustees has the power to vote and/or dispose of such securities.
Item 7. Materials to be Filed as Exhibits.
None.
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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.
THE GIBSON 1982 REVOCABLE TRUST
Dated: August __, 1997 By: _____________________________________
Gregg C. Gibson, Trustee
(no attachment)
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