SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
FRIEDE GOLDMAN
INTERNATIONAL, INC.
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
0003584301
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(CUSIP NUMBER)
CAMBRIDGE INVESTMENTS LIMITED
600 Montgomery Street
43rd Floor
San Francisco, California 94111
Tel. No.: (415) 781-0866
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Michael G. Tannenbaum, Esq.
Newman Tannenbaum Helpern Syracuse & Hirschtritt LLP
900 Third Avenue - 13th Floor
New York, New York 10022
(212) 508-6700
--------------------------------------------------------------
December 8, 1997 and December 9, 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 Schedule 13D, and is filing this
schedule because of Rule 13d- 1(b)(3) or (4) check the following box [ ]
Check the following box if a fee is being paid with the statement [ ]
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, as amended ("Exchange
Page 1 of 11 Pages
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Act") or otherwise subject to the liabilities of that section of the Exchange
Act but shall be subject to all other provisions of the Exchange Act.
Page 2 of 11 Pages
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- ----------------------- ---------------------------
CUSIP No. 0003584301 13D
- ------------------------ ---------------------------
- -------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cambridge Investments Limited
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY As of December 8, 1997, 1,193,220 shares of Common Stock
OWNED BY (See Item 5)
EACH
REPORTING As of December 9, 1997, 1,163,920 shares of Common Stock
PERSON WITH (See Item 5)
- -------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
As of December 8, 1997, 1,193,220 shares of Common
Stock (See Item 5)
As of December 9, 1997, 1,163,920 shares of Common
Stock (See Item 5)
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10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
As of December 8, 1997, 1,193,220 shares of Common Stock (See
Item 5)
As of December 9, 1997, 1,163,920 shares of Common Stock (See
Item 5)
Page 3 of 11 Pages
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
As of December 8, 1997, 5.07% of Common Stock (See Item 5)
As of December 9, 1997, 4.96% of Common Stock (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 11 Pages
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SCHEDULE 13D
This Amendment No. 1 to Schedule 13D is being filed on behalf
of Cambridge Investments Limited, a California corporation ("Cambridge" or
"CIL"), registered as an investment advisor in the State of California,
regarding shares of Friede Goldman International, Inc. acquired on behalf of
certain of its clients.
Item 1. Security and Issuer
Securities acquired: Common Stock, $.01 par value
Issuer: Friede Goldman International, Inc.
525 East Capitol Street
Suite 402
Jackson, Mississippi 39201
Item 2. Identity and Background
There is no change in this section.
Item 3. Source and Amount of Funds
As of December 8, 1997, Cambridge, through Cambridge Energy,
L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF"), Cambridge Oil &
Gas, L.P. ("COG"), Cambridge Oil & Gas International Fund, Ltd. ("COG Int'l),
Palamundo LDC ("PAL"), Quantum Partners, LDC ("QUE") and Cambridge,
(collectively, the "Funds"), has invested approximately $29,153,628.03 in Common
Stock of the Issuer as described in Item 5 below. CELP, CEF, COG, COG Int'l,
PAL, QUE and Cambridge have invested approximately $12,807,643.38,
$9,735,050.77, $376,948.00, $1,360,367.13, $525,448.75, $3,923,475.88 and
$213,186.12, respectively. John R. Tozzi ("JRT"), the sole shareholder of CIL,
may be deemed to have invested directly and indirectly approximately
$211,508.00.
As of December 9, 1997, Cambridge, through Cambridge Energy,
L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF"), Cambridge Oil &
Gas, L.P. ("COG"), Cambridge Oil & Gas International Fund, Ltd. ("COG Int'l),
Palamundo LDC ("PAL"), Quantum Partners, LDC ("QUE") and Cambridge,
(collectively, the "Funds"), has invested approximately $29,153,628.03 in Common
Stock of the Issuer as described in Item 5 below. CELP, CEF, COG, COG Int'l,
PAL, QUE and Cambridge have invested approximately $12,699,572.18,
$8,997,572.18, $376,948.00, $1,360,367.13, $525,448.75, $3,882,163.62 and
$213,186.12, respectively. John R. Tozzi ("JRT") may be deemed to have invested
directly and indirectly approximately $211,508.00.
Page 5 of 11 Pages
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Item 4. Purpose of the Transaction
There is no change in this section.
Item 5. Interest in Securities of the Issuer
(a) As of December 8, 1997, Cambridge is the beneficial owner
of 1,193,220 shares of Common Stock, or 5.07% of the shares outstanding. Of the
1,193,220 shares of Common Stock described above, (i) 414,154 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of CELP; (ii) 533,060 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the institutional account of
CEF; (iii) 13,000 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the institutional account of COG; (iv) 58,700 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of COG Int'l; (v) 18,176 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the managed account of PAL;
(vi) 135,810 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the managed account of QUE; (vii) 10,200 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for its
institutional account. John R. Tozzi ("JRT"), directly and indirectly, may be
deemed the beneficial owner of 10,120 shares of Common Stock or, in the
aggregate, .04% of the shares outstanding.
(b) As of December 9, 1997, Cambridge is the beneficial owner
of 1,163,920 shares of Common Stock, or 4.96% of the shares outstanding. Of the
1,163,920 shares of Common Stock described above, (i) 411,254 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of CELP; (ii) 508,060 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the institutional account of
CEF; (iii) 13,000 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the institutional account of COG; (iv) 58,700 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of COG Int'l; (v) 18,176 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the managed account of PAL;
(vi) 134,410 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the managed account of QUE; (vii) 10,200 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for its
institutional account. John R. Tozzi ("JRT"), directly and indirectly, may be
deemed the beneficial owner of 10,120 shares of Common Stock or, in the
aggregate, .04% of the shares outstanding.
The number of shares beneficially owned by Cambridge, and the
percentage of outstanding shares represented thereby, have been computed in
accordance with Rule 13d-3 under the Exchange Act. The percentage of ownership
of Cambridge on December 8, 1997 and December 9, 1997 is based on 24,405,046
outstanding shares of the Issuer's Common Stock as reported in the Issuer's
Quarterly Report on Form 10-Q for the period ended September 30, 1997.
Page 6 of 11 Pages
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(b) Cambridge has the sole power to vote and dispose of the
shares of Common Stock held for the institutional accounts of the Funds
mentioned above.
(c) The transactions in the Issuer's securities by Cambridge
over the last sixty (60) days are listed in Annex A attached hereto and made a
part hereof.
(d) The Funds, respectively, have the right to participate in
the receipt of dividends, or proceeds from the sale of securities held on behalf
of such funds.
(e) Not Applicable.
Item 6. Contracts, Arrangement, Understandings or Relationships with
Respect to
Securities of the Issuer
There is no change in this section.
Item 7. Material to be Filed as Exhibits
There is no change in this section.
Page 7 of 11 Pages
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ANNEX A
<TABLE>
FGII
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<S> <C> <C> <C> <C>
DATE ACCOUNT TRANS SHARES PRICE
(A/D) ($)
- --------------------------------------------------------------------------------------------
11/14/97 JRT D 800 40.83
- --------------------------------------------------------------------------------------------
11/14/97 CIL D 14300 40.83
- --------------------------------------------------------------------------------------------
11/14/97 JRT D 800 40.83
- --------------------------------------------------------------------------------------------
11/14/97 PAL D 300 40.83
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11/14/97 PAL D 1100 40.83
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11/14/97 QUE D 1400 40.83
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11/14/97 QUE D 6100 40.83
- --------------------------------------------------------------------------------------------
11/14/97 JRT D 800 40.83
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11/17/97 CEF D 2700 42.08
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11/17/97 CELP D 1900 42.08
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11/17/97 JRT D 12500 42.09
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11/17/97 QUE D 400 42.05
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11/18/97 JRT D 6000 38.63
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11/19/97 JRT D 200 36.63
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11/20/97 JRT A 5000 35.63
- --------------------------------------------------------------------------------------------
11/20/97 JRT A 2750 35.13
- --------------------------------------------------------------------------------------------
11/20/97 JRT D 3000 36.63
- --------------------------------------------------------------------------------------------
11/20/97 JRT A 750 35.13
- --------------------------------------------------------------------------------------------
11/20/97 JRT A 750 35.13
- --------------------------------------------------------------------------------------------
11/20/97 JRT A 750 35.13
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 2750 36.05
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 5000 36.05
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 750 36.05
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 2500 36.05
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 750 36.05
- --------------------------------------------------------------------------------------------
11/21/97 JRT D 750 36.05
- --------------------------------------------------------------------------------------------
11/25/97 JRT D 2000 32.19
- --------------------------------------------------------------------------------------------
11/25/97 CIL D 5000 32.46
- --------------------------------------------------------------------------------------------
11/25/97 CIL D 5000 32.89
- --------------------------------------------------------------------------------------------
11/25/97 JRT D 5000 32.46
- --------------------------------------------------------------------------------------------
11/25/97 JRT D 5000 32.89
- --------------------------------------------------------------------------------------------
11/26/97 CIL D 12500 31.943
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11/26/97 JRT D 12500 31.9
- --------------------------------------------------------------------------------------------
11/28/97 CEF A 12500 30.01
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11/28/97 CELP A 10000 30.01
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11/28/97 CIL D 25000 30
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11/28/97 JRT D 720 29.99
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11/28/97 JRT D 680 29.99
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11/28/97 JRT D 8600 29.99
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11/28/97 QUE A 10000 30.01
- --------------------------------------------------------------------------------------------
12/01/97 CIL D 8460 28.7208
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------------------
12/01/97 CIL D 3540 28.26
- --------------------------------------------------------------------------------------------
12/01/97 CIL D 760 28.26
- --------------------------------------------------------------------------------------------
12/01/97 CIL D 10200 28.26
- --------------------------------------------------------------------------------------------
12/01/97 JRT D 5000 28.26
- --------------------------------------------------------------------------------------------
12/01/97 JRT D 5320 28.68
- --------------------------------------------------------------------------------------------
12/02/97 JRT D 700 30
- --------------------------------------------------------------------------------------------
12/02/97 JRT D 700 30
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12/02/97 JRT D 700 30
- --------------------------------------------------------------------------------------------
12/03/97 CEF D 12500 33.38
- --------------------------------------------------------------------------------------------
12/03/97 CELP D 10000 33.38
- --------------------------------------------------------------------------------------------
12/03/97 QUE D 10000 33.38
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 720 36.93
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 3720 36.14
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 1600 36.93
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 4280 36.93
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 3600 36.93
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12/04/97 JRT D 1400 36.93
- --------------------------------------------------------------------------------------------
12/04/97 CIL D 3000 36.1813
- --------------------------------------------------------------------------------------------
12/04/97 CIL D 11800 36.93
- --------------------------------------------------------------------------------------------
12/04/97 JRT D 3280 36.14
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12/04/97 JRT D 11600 36.93
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12/05/97 CEF D 6840 35.46
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12/05/97 CEF D 7000 35.31
- --------------------------------------------------------------------------------------------
12/05/97 CEF D 1900 35.46
- --------------------------------------------------------------------------------------------
12/05/97 CELP D 5506 35.46
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12/05/97 CELP D 5000 35.31
- --------------------------------------------------------------------------------------------
12/05/97 JRT D 9400 35.46
- --------------------------------------------------------------------------------------------
12/05/97 JRT D 1000 35.3
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12/05/97 PAL D 1904 35.46
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12/05/97 QUE D 1950 35.46
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12/05/97 QUE D 1000 35.3
- --------------------------------------------------------------------------------------------
12/08/97 CEF D 34800 36.58
- --------------------------------------------------------------------------------------------
12/08/97 CELP D 7300 36.58
- --------------------------------------------------------------------------------------------
12/08/97 QUE D 2700 36.58
- --------------------------------------------------------------------------------------------
12/09/97 CEF D 25000 35.09
- --------------------------------------------------------------------------------------------
12/09/97 CELP D 2900 35.09
- --------------------------------------------------------------------------------------------
12/09/97 QUE D 1400 35.09
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12/10/97 CEF D 19000 34.03
- --------------------------------------------------------------------------------------------
12/10/97 CEF D 12000 33.91
- --------------------------------------------------------------------------------------------
12/10/97 CELP D 1500 33.91
- --------------------------------------------------------------------------------------------
12/10/97 CELP D 2300 34.03
- --------------------------------------------------------------------------------------------
12/10/97 QUE D 500 33.91
</TABLE>
Page 9 of 11 Pages
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<TABLE>
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------------------
12/10/97 QUE D 2200 34.03
- --------------------------------------------------------------------------------------------
12/11/97 CEF D 55000 32.40
- --------------------------------------------------------------------------------------------
12/11/97 CIL D 5000 32.4019
- --------------------------------------------------------------------------------------------
12/11/97 JRT D 5000 32.4
- --------------------------------------------------------------------------------------------
12/12/97 CEF D 19680 31.67
- --------------------------------------------------------------------------------------------
12/12/97 CEF D 20000 32.75
- --------------------------------------------------------------------------------------------
12/12/97 CIL D 5200 31.6667
- --------------------------------------------------------------------------------------------
12/12/97 JRT D 5120 31.67
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 5980 28.85
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 42500 28.99
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 6920 28.85
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 8000 28.99
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 3700 29.08
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 23920 29.08
- --------------------------------------------------------------------------------------------
12/15/97 CEF D 17880 29.08
- --------------------------------------------------------------------------------------------
12/15/97 CELP D 12000 28.99
- --------------------------------------------------------------------------------------------
12/15/97 COG A 4100 29
- --------------------------------------------------------------------------------------------
12/15/97 COGI A 3900 29
- --------------------------------------------------------------------------------------------
12/15/97 QUE D 7000 28.99
- --------------------------------------------------------------------------------------------
12/16/97 CEF D 24020 30.65
- --------------------------------------------------------------------------------------------
12/16/97 CEF D 5980 30.65
- --------------------------------------------------------------------------------------------
12/16/97 CEF D 10080 30.36
- --------------------------------------------------------------------------------------------
12/16/97 CEF D 20 30.36
- --------------------------------------------------------------------------------------------
12/17/97 COG A 32600 32.5
- --------------------------------------------------------------------------------------------
12/17/97 COGI D 12000 32.5
- --------------------------------------------------------------------------------------------
12/17/97 PAL D 3600 32.48
- --------------------------------------------------------------------------------------------
12/17/97 QUE D 17000 32.49
============================================================================================
</TABLE>
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Signatures
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: January 16, 1998
CAMBRIDGE INVESTMENTS LIMITED
By: /S/ Jocelyn E. Weingart,
Vice President
Page 11 of 11 Pages
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