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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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*
Cable Systems Holding, LLC
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(Last) (First) (Middle)
505 North 51st Avenue
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(Street)
Phoenix Arizona 85043-2701
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
IPC Communications, Inc. (IPI)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
June 1999 (1)
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
________________________________________
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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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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ---------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock, par value
$.01 per share 6/10/1999 S 142,599 (1) D $10.58 4,346,033 (1) D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form 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>
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</TABLE>
Explanation of Responses:
(1) Each of the Reporting Persons, other than Cable Systems Holding, LLC ("CSH
LLC"), 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.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Cable Systems Holding, LLC
By: Bruce Burkett, Manager
/s/ Bruce Burkett August 20, 1999
- --------------------------------------------- -----------------------
** Signature of Reporting Person Date
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
<PAGE>
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: CITICORP VENTURE CAPITAL, LTD.
By: /s/ David Y. Howe
--------------------------
Name: David Y. Howe
Title: Vice President
Page 3 of 8 pages
<PAGE>
Joint Filer Information
Name: Citibank, N.A.
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: CITIBANK, N.A.
By: /s/ Glenn Gray
------------------------------------------
Name: Glenn S. Gray
Title: Vice President and Assistant Secretary
Page 4 of 8 pages
<PAGE>
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: CITICORP
By: /s/ Glenn Gray
------------------------------------------
Name: Glenn S. Gray
Title: Vice President and Assistant Secretary
Page 5 of 8 pages
<PAGE>
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: CITIGROUP INC.
By: /s/ Glenn Gray
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Name: Glenn S. Gray
Title: Vice President and Assistant Secretary
Page 6 of 8 pages
<PAGE>
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: /s/ David Kirby
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Page 7 of 8 pages
<PAGE>
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: 6/10/1999 (see Footnote 1 on Form 4)
Signature: /s/ John O'Mara
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Page 8 of 8 pages
