SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
ADAMS GOLF, INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
006228 10 0
(CUSIP Number)
December 31, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
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 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP NO. 006228 10 0
(1) Name of Reporting Person Royal Holding Company, Inc.
I.R.S. Identification No.
of Above Person (entities only) 25-1622874
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship Delaware
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 6,374,511
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 6,374,511
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 6,374,511
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 28.4%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* CO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
<PAGE>
CUSIP NO. 006228 10 0
(1) Name of Reporting Person Paul F. Brown, Jr.
I.R.S. Identification No. of Above Person (entities only)
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship Delaware
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 0
- -----------------------------------------------------------------
(6) Shared Voting Power 6,374,511**
- -----------------------------------------------------------------
(7) Sole Dispositive Power 0
- -----------------------------------------------------------------
(8) Shared Dispositive Power 6,374,511**
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 6,374,511**
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 28.4%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
** Pursuant to Rule 13d-4, the Reporting Person disclaims
beneficial ownership of the shares of Common Stock reflected
herein and, as such, declares that this Statement shall not
be construed as an admission that such person is the
beneficial owner of any securities covered hereby.
<PAGE>
CUSIP NO. 006228 10 0
(1) Name of Reporting Person Stephen R. Patchin
I.R.S. Identification No. of Above Person (entities only)
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship United States
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 0
- -----------------------------------------------------------------
(6) Shared Voting Power 6,374,511**
- -----------------------------------------------------------------
(7) Sole Dispositive Power 0
- -----------------------------------------------------------------
(8) Shared Dispositive Power 6,374,511**
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 6,374,511**
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 28.4%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
** Pursuant to Rule 13d-4, the Reporting Person disclaims
beneficial ownership of the shares of Common Stock reflected
herein and, as such, declares that this Statement shall not
be construed as an admission that such person is the
beneficial owner of any securities covered hereby.
<PAGE>
CUSIP NO. 006228 10 0
Item 1(a). NAME OF ISSUER:
Adams Golf, Inc. (the "Issuer")
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE
OFFICES:
300 Delaware Avenue, Suite 548, Wilmington,
Delaware 19801
Item 2(a). NAME OF PERSON FILING:
Pursuant to rule 13d-1(k)(1) promulgated
under the Act, this Statement on Schedule 13G is
filed jointly by Royal Holding Company, Inc.
("Royal"), Paul F. Brown, Jr. ("Brown") and
Stephen R. Patchin ("Patchin"). Royal, Brown and
Patchin are collectively referred to herein as the
"Reporting Persons." The Reporting Persons have
included as Exhibit A to this Statement an
agreement in writing that this Statement is filed
on behalf of each of them.
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF
NONE, RESIDENCE:
Royal
-----
The principal business office of Royal is:
300 Delaware Avenue, Suite 306, Wilmington,
Delaware 19801
Brown
-----
The principal business office of Brown is:
One Indian Springs Road, Carl E. Patchin Building,
Indiana, Pennsylvania 15701
Patchin
-------
The principal business office of Patchin is:
500 N. Water, Nationsbank Building, Suite 807N,
Corpus Christi, Texas 78471
Item 2(c). CITIZENSHIP:
Royal is a Delaware corporation. Brown
and Patchin are citizens of the United States.
<PAGE>
CUSIP NO. 006288 10 0
Item 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $0.001 par value per
share, of the Issuer.
Item 2(e). CUSIP NO.:
006228 10 0
Item 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 13D-
1(B), OR 13D-2(B) OR (C), CHECK WHETHER THE PERSON
FILING IS A:
(a) [ ] Broker or dealer registered
under section 15 of the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section
3(a)(6) of the Act (15 U.S.C. 78c);
(c) [ ] Insurance company as defined
in section 3(a)(19) of the Act (15 U.S.C.
78c);
(d) [ ] Investment company registered
under section 8 of the Investment Company Act
of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in
accordance with 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or
endowment fund in accordance with
240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or
control person in accordance with
240.13d-1(b)(ii)(G);
(h) [ ] A savings association as
defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded
from the definition of an investment company
under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with
240.13d-1(b)(1)(ii)(J)
Not applicable.
<PAGE>
CUSIP NO. 006228 10 0
Item 4. OWNERSHIP:
Royal
-----
(a) Amount beneficially owned: 6,374,511
(b) Percent of class: 28.4%
(c) Number of shares as to which such person has:
(i) sole power to vote or to
direct the vote: 6,374,511
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or
to direct the disposition of: 6,374,511
(iv) shared power to dispose or to
direct the disposition of: 0
Brown1
------
(a) Amount beneficially owned: 6,374,511
(b) Percent of class: 28.4%
(c) Number of shares as to which such person has:
(i) sole power to vote or to
direct the vote: 0
(ii) shared power to vote or to direct the vote:
6,374,511
(iii) sole power to dispose or
to direct the disposition of: 0
(iv) shared power to dispose or to
direct the disposition of: 6,374,511
<PAGE>
CUSIP NO. 006228 10 0
Patchin2
--------
(a) Amount beneficially owned: 6,374,511
(b) Percent of class: 28.4%
(c) Number of shares as to which such person has:
(i) sole power to vote or to
direct the vote: 0
(ii) shared power to vote or to direct the vote:
6,374,511
(iii) sole power to dispose or
to direct the disposition of: 0
(iv) shared power to dispose or to
direct the disposition of: 6,374,511
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable.
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON:
Not Applicable.
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY OR CONTROL PERSON:
Not Applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP:
This Statement on Schedule 13G has been filed by a
group under Rule 13d-1(d). Attached as Annex A is a
Joint Filing Statement executed by each member of such
group.
<PAGE>
CUSIP NO. 006228 10 0
Item 9. NOTICE OF DISSOLUTION OF GROUP:
Not Applicable.
Item 10. CERTIFICATIONS:
Not Applicable.
[Signature page follows]
<PAGE>
CUSIP NO. 006228 10 0
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.
Dated: February 12, 1999
ROYAL HOLDING COMPANY, INC.
By: /s/ PAUL F. BROWN, JR.
------------------------------
Name: PAUL F. BROWN, JR.
------------------------------
Title: Vice President - Finance
------------------------------
/s/ PAUL F. BROWN, JR.
-----------------------------------
PAUL F. BROWN, JR.
/s/ STEPHEN R. PATCHIN
-----------------------------------
STEPHEN R. PATCHIN
ATTENTION: Intentional misstatements or
omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
EXHIBIT A
JOINT FILING STATEMENT
Pursuant to Rule 13d-1(k)(1), we, the undersigned, hereby
express our agreement that the attached Schedule 13G is filed on
behalf of each of us.
Dated: February 12, 1999
ROYAL HOLDING COMPANY, INC.
By: /s/ PAUL F. BROWN, JR.
------------------------------
Name: PAUL F. BROWN, JR.
------------------------------
Title: Vice President - Finance
------------------------------
/s/ PAUL F. BROWN, JR.
-----------------------------------
PAUL F. BROWN, JR.
/s/ STEPHEN R. PATCHIN
-----------------------------------
STEPHEN R. PATCHIN
_______________________________
1 Brown is the Chief Financial Officer and Vice President-
Finance of Royal and, by virtue of his position with Royal,
may be deemed to share the power to vote or direct the vote
of, and to share the power to dispose or direct the
disposition of, the shares of Common Stock held by Royal.
Brown disclaims beneficial ownership of the Common Stock
held by Royal.
2 Patchin is the Chief Executive Officer and President of
Royal and, by virtue of his position with Royal, may be
deemed to share the power to vote or direct the vote of, and
to share the power to dispose or direct the disposition of,
the shares of Common Stock held by Royal. Patchin disclaims
beneficial ownership of the Common Stock held by Royal.
