U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Cable Systems Holdings, LLC
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(Last) (First) (Middle)
905 North 51st Avenue
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(Street)
Phoenix Arizona 85043-2701
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
5/24/1999(1)
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
IPC Communications, Inc. (IPI)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
________________________________________
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
|_| Form filed by One Reporting Person
|X| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 5) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock, par value $.01 per share 4,488,632 D
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 8
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
(1) At May 24, 1999, Cable Systems Holding, LLC ("CSH LLC") became the holder
and beneficial owner of 4,488,632 shares of the IPI Common Stock. Each of
the other Reporting Persons may be deemed to indirectly beneficially own
shares held by CSH LLC by virtue of its direct or indirect ownership of
membership units in CSH LLC. With respect to Reporting Persons other than
CSH LLC, the filing of this Form, and subsequent Forms 4 or 5 and
amendments thereto, and the disclosures thereon, shall not be deemed an
admission, for purposes of Sections 13(d) or (g) and 16 of the Securities
Exchange Act of 1934 (the "Exchange Act"), or any other purpose, that such
Reporting Person is a beneficial owner of any shares, and each such
Reporting Person disclaims beneficial ownership of any Common Stock in
excess of the number of shares of Common Stock in which each Reporting
Person has a pecuniary interest. Citicorp Venture Capital, Ltd., directly,
and its parent entities, Citibank, N.A., Citicorp and Citigroup Inc.,
indirectly, may be deemed to have become the beneficial owners of
4,028,241.636 shares at May 21, 1999. Those shares were contributed to CSH
LLC on May 24, 1999 in a transaction exempt under Rule 16a-13 of the
Exchange Act.
Cable Systems Holding, LLC
By: Bruce Burkett, Manager
/s/ Bruce Burkett June 10, 1999
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** Signature of Reporting Person Date
** 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 procedure.
Page 2 of 8
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Joint Filer Information
Name: Citicorp Venture Capital, Ltd.
Address: 399 Park Avenue
New York, New York 10043
Designated Filer: Cable Systems Holding, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: CITICORP VENTURE CAPITAL, LTD.
By: /s/ David Y. Howe
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Name: David Y. Howe
Title: Vice President
Page 3 of 8 pages
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Joint Filer Information
Name: Citibank, N.A.
Address: 399 Park Avenue
New York, New York 10043
Designated Filer: Cable Systems Holdings, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: CITIBANK, N.A.
By: /s/ Glenn S. Gray
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Name: Glenn S. Gray
Title: Vice President and Assistant Secretary
Page 4 of 8 pages
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Joint Filer Information
Name: Citicorp
Address: 399 Park Avenue
New York, New York 10043
Designated Filer: Cable Systems Holding, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: CITICORP
By: /s/ Glenn S. Gray
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Name: Glenn S. Gray
Title: Vice President and Assistant Secretary
Page 5 of 8 pages
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Joint Filer Information
Name: Citigroup Inc.
Address: 153 East 53rd Street
New York, New York 10043
Designated Filer: Cable Systems Holding, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: CITIGROUP INC.
By: /s/ Marla Berman Lewitus
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Name: Marla Berman Lewitus
Title: Assistant Secretary
Page 6 of 8 pages
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Joint Filer Information
Name: David Kirby
Address: c/o Citicorp Venture Capital, Ltd.
399 Park Avenue
New York, New York 10043
Designated Filer: Cable Systems Holding, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: /s/ David Kirby
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Page 7 of 8 pages
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Joint Filer Information
Name: John O'Mara
Address: c/o Citicorp Venture Capital, Ltd.
399 Park Avenue
New York, New York 10043
Designated Filer: Cable Systems Holding, LLC
Issuer & Ticker Symbol: IPC Communications, Inc. (IPI)
Date of Event Requiring Statement: 5/24/1999 (see Footnote 1 on Form 3)
Signature: /s/ John O'Mara
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Page 8 of 8 pages
