UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Sacerdote, Peter M.
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(Last) (First) (Middle)
c/o Goldman, Sachs & Co.
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
AMF Bowling, Inc.
(PIN)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
November/1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<PAGE>
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, |
or Beneficially Owned |
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| | | | |6. | |
| | | 4. |5. |Owner- | |
| | | Securities Acquired (A) or |Amount of |ship | |
| | 3. | Disposed of (D) |Securities |Form: |7. |
|2. | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|Transaction | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Date | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |(Month/Day/ | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |Year) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | |
Common Stock | | | | | | | 01 | I | 01 |
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| | | | | | | | | |
| | | | | | | | | |
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| | | | | | | | | |
| | | | | | | | | |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
<TABLE>
<CAPTION>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |9. |10. | |
| | | | | | | |Number |Owner-| |
| | | | | | | |of |ship | |
|2. | | | | | | |Deriv- |of | |
|Conver- | | | 5. | |7. | |ative |Deriv-|11. |
|sion | | | Number of | |Title and Amount | |Secur- |ative |Nature|
|or | | | Derivative |6. |of Underlying |8. |ities |Secur-|of |
|Exer- | |4. | Securities |Date |Securities |Price |Bene- |ity: |In- |
|cise |3. |Trans-| Acquired (A) |Exercisable and |(Instr. 3 and 4) |of |ficially |Direct|direct|
|Price |Trans- |action| or Disposed |Expiration Date |-----------------------|Deriv- |Owned |(D) or|Bene- |
1. |of |action |Code | of (D) |(Month/Day/Year) | |Amount |ative |at End |In- |ficial|
Title of |Deriv- |Date |(Instr| (Instr. 3, |-----------------| |or |Secur- |of |direct|Owner-|
Derivative |ative |(Month/ |8) | 4 and 5) |Date |Expira- | |Number |ity |Month |(I) |ship |
Security |Secur- |Day/ |------| ------------ |Exer- |tion | |of |(Instr. |(Instr. |(Instr|(Instr|
(Instr. 3) |ity |Year) |Code|V| (A) | (D) |cisable |Date |Title |Shares |5) |4) |4) |4) |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0% Convertible | | | | | | | | | | | | | | |
Debentures due | | | | | | | | | | | | | | |
2018 | 02 | 03 | P | | 03 | | Immed.|5/12/18 |Common Stock | 02,03 | 03 | 04 | I |01,04 |
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Warrants to | | | | | | | | | | | | | | |
purchase | | | | | | | | | | | | | | |
Common Stock | $0.01 | | | | | | Immed.|5/1/06 |Common Stock | 870,000 | | 870,000 | I | 01 |
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| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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</TABLE>
<PAGE>
Explanation of Responses:
01: The Reporting Person is a limited partner of The Goldman Sachs Group, L.P.
("GS Group"). GS Group is the general partner of and owns a 99% interest in
Goldman, Sachs & Co. ("Goldman Sachs"). Goldman Sachs and GS Group may be deemed
to own beneficially and indirectly in the aggregate 29,966,593 shares of Common
Stock, par value $.01 per share, of AMF Bowling, Inc. ("Common Stock") through
certain investment partnerships (the "Limited Partnerships") of which affiliates
of Goldman Sachs and GS Group are the general partner, managing general partner
or managing partner. Goldman Sachs is the investment manager of one or more of
the Limited Partnerships. GS Group owns beneficially and directly immediately
exercisable warrants to purchase 870,000 shares of Common Stock. The Reporting
Person disclaims beneficial ownership of the securities reported herein except
to the extent of his pecuniary interest therein, if any.
02: AMF Bowling, Inc. (the "Company") Zero Coupon Convertible Debentures due
2018 (the "Debentures") are convertible at any time prior to maturity into
shares of Common Stock at a conversion rate of 8.6734 shares per $1,000
principal amount at maturity.
03: On November 12, 1998, the Limited Partnerships entered into an agreement
(the "Debenture and Note Purchase Agreement") with certain other investors,
pursuant to which the parties thereto agreed to make open market purchases of
the Company's Debentures and 12 1/4% Senior Subordinated Discount Notes due 2006
(the "Notes") from time to time for their respective accounts in agreed-upon
proportions. The Debenture & Note Purchase Agreement provides that each party
thereto may terminate its participation in such open market purchases by
providing written notice of such termination to the other parties thereto. There
can be no assurance that the Limited Partnerships or any of the other parties to
the Debenture & Note Purchase Agreement will acquire any additional Debentures
thereunder or, if such securities are acquired, the amount of securities so
acquired.
Accordingly, on November 13, 1998, November 16, 1998 and November 17, 1998, the
Limited Partnerships purchased $8,387,000, $4,193,000 and $60,303,000,
respectively, in principal amount of Debentures.
04: Goldman Sachs and GS Group may be deemed to own beneficially and indirectly
in the aggregate 632,143 shares of Common Stock by reason of the ownership by
the Limited Partnerships of $72,883,000 principal amount in Debentures.
By: s/ Roger S. Begelman December 10, 1998
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**Signature of Reporting Person Date
Attorney-in-fact
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
