UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Dixon Ticonderoga Company
(Name of Issuer)
Common Stock, $1.00 Par Value
(Title of Class of Securities)
255860108
(CUSIP Number)
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SCHEDULE 13D CUSIP No. 255860108
Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Hollybank Investments, LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP* (a) ( )
(b) (X)
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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 ITEMS 2(d) or 2(e) ( )
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY
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EACH 8 SHARED VOTING POWER
REPORTING None
PERSON WITH ------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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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)
0%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D CUSIP No. 255860108
Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Thistle Investments LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ( )
(b) (X)
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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 ITEMS 2(d) or 2(e) ( )
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY
------------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING None
PERSON WITH
------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
-------------------------------------------------------------------
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)
0%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D CUSIP No. 255860108
Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dorsey R. Gardner
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ()
(b) (X)
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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 ITEMS 2(d) or 2(e) ( )
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF 24,296XX
SHARES XX Please refer to Item 5, page 7 for disclaimer of
BENEFICIALLY beneficial ownership
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OWNED BY 8 SHARED VOTING POWER
EACH None
REPORTING
PERSON WITH
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9 SOLE DISPOSITIVE POWER
24,296XX
XX Please refer to Item 5, page 7 for disclaimer of
beneficial ownership
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10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,296XX
XX Please refer to Item 5, page 7 for disclaimer of beneficial
ownership
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* (X)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%XX
XX Please refer to Item 5, page 7 for disclaimer of beneficial
ownership
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D CUSIP No. 255860108
Page 5 of 9 Pages
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ITEM 1. SECURITY AND ISSUER.
The title of the class of equity securities to which this statement
relates is the Common Stock, par value $1.00 per share (the "Shares"), of
Dixon Ticonderoga Company, a Delaware corporation (the "Company"). The
address of the Company's principal executive office is 195 International
Parkway, Heathrow, Florida 32746-5036.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this Statement are Hollybank Investments, LP, a
Delaware limited Partnership ("LP"), Thistle Investments LLC, a Delaware
limited liability company ("LLC") and Dorsey R. Gardner, the general partner
of LP and managing member of LLC ("Gardner"). The business address of
Gardner, LP and LLC is One International Place, Suite 2401, Boston, MA
02110. LP was formed on January 14, 1994, and is authorized to conduct any
business which may be legally conducted by a limited partnership under the
laws of Delaware. LLC was organized on January 21, 1999 and is authorized to
conduct any business which may be legally conducted by a limited liability
company under the laws of Delaware. As of the date hereof, the sole business
of each LP and LLC is securities investment. During the last five years,
neither Gardner, LP nor LLC has been convicted in a criminal proceeding
(excluding traffic violations and similar misdemeanors), nor has Gardner, LP
or LLC been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction as a result of which Gardner, LP or LLC was or
is subject to a judgement, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
This statement relates specifically to the following transactions in
the Shares: LP's June 13, 2000 sale of 600 Shares at a per share price of
$3.72; LP's June 14, 2000 sale of 11,000 Shares at a per share price of
$3.60; LP's June 28, 2000 sale of 1,000 Shares at a per share price of $2.97;
LLC's June 14, 2000 sale of 1000 share at a per share price of $3.60 and
Gardner's May 24, 2000 sale of 22,100 Shares at a per share price of $3.71.
These purchase were effected on the American Stock Exchange. This statement
also relates to LP's August 3, 2000 sale of 504,700 Shares at a per share
price of $3.00 and LLC's August 3, 2000 sale of 53,400 shares at a per share
price of $3.00, both of which were sold in private transactions.
ITEM 4. PURPOSE OF TRANSACTION.
LP, LLC and Gardner have acquired their respective shares strictly for
the purpose of equity security investment. Neither LP, LLC nor Gardner has
any present plans or proposals which would relate to or result in:
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SCHEDULE 13D CUSIP No. 255860108
Page 6 of 9 Pages
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(a) The acquisition by any person of additional securities of the
Company, or the disposition of securities of the Company;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its
subsidiaries;
(c) A sale or transfer of a material amount of assets of the Company
or any of its subsidiaries;
(d) Any change in the present board of directors or management of the
Company, including any plans or proposals to change the number of term of
directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy
of the Company;
(f) Any other material change in the Company's business or corporate
structure;
(g) Changes in the Company's charter, bylaws or instruments
corresponding thereto or other actions which may impede the acquisition of
control of the Company by any person;
(h) Causing a class of securities of the Company to be delisted from a
national securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) A class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
The persons filing this statement are no longer subject to the
reporting requirements of Schedule 13D with respect to Shares of the Company.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)(i) As of the date of this Statement, LP is not the beneficial
owner of any Shares.
(ii) As of the date of this Statement, LLC is not the beneficial owner
of any Shares.
(iii) As of the date of this Statement, Gardner beneficially owns
24,296 Shares (approximately 0.7% of the 3,168,048 outstanding Shares as on June
30, 2000, based on information provided in the Company's most recent Quarterly
Report on Form 10Q filed August 14, 2000). Except to the extent of his interest
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SCHEDULE 13D CUSIP No. 255860108
Page 7 of 9 Pages
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as a limited partner in LP and member of LLC, Gardner expressly disclaims
beneficial ownership of any Shares which may be beneficially owned by LP and
LLC, and the filing of this statement shall not be construed as an admission
that Gardner is the beneficial owner of such Shares.
(b) Gardner has sole voting power and sole investment power with
respect to the Shares listed in (a)(iii) above.
(c)(i) Other than the sales described in Item 3 above, LP has, during
during the past 60 days, not effected any Share transactions.
(ii) Other than the sales described in Item 3 above, LLC has, during
during the past 60 days, not effected any Share transactions.
(iii) Other than the sales described in Item 3 above, Gardner
has, during the past 60 days, not effected any Share transactions.
(d) No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of
Shares reported on this Statement.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
There are no contracts, arrangement, understandings or relationships
(legal or otherwise) between LP, LLC or Gardner and any other person with
respect to any securities of the Company, including, but not limited to,
transfer or voting of any of the securities, finder's fees, joint ventures, loan
or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following document is filed herewith as an exhibit to this statement:
(a) Joint Filing Agreement. Incorporated by reference to Exhibit
99.1 to the Schedule 13D filed electronically with the Securities and
Exchange Commission on June 25, 1999 (Accession No. 0000898432-99-000716)
("July 25, 1999 Schedule 13D").
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SCHEDULE 13D CUSIP No. 255860108
Page 8 of 9 Pages
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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.
HOLLYBANK INVESTMENT, L.P.
By: /s/ Dorsey R. Gardner
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Dorsey R. Gardner
General Partner
THISTLE INVESTMENT LLC
By: /s/ Dorsey R. Gardner
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Dorsey R. Gardner
Managing Member
By: /s/ Dorsey R. Gardner
---------------------
Dorsey R. Gardner
Date: September 1, 2000
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SCHEDULE 13D CUSIP No. 255860108
Page 9 of 9 Pages
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SCHEDULE 13D
EXHIBIT INDEX
99.1 Joint Filing Agreement. Incorporated by reference to Exhibit 99.1 to
the July 25, 1999 Schedule 13D.
