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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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*
Witco Corporation
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(Last) (First) (Middle)
One American Lane
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(Street)
Greenwich, Connecticut 06831-2559
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
5/31/99
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
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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/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] 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. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
Page 1 of 2
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
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 6. 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>
Option Upon the Upon the Common Stock, par 13,025,917** $18,375 D
"Trigger occurrence of value $.10 per share
Event" certain events
specified specified in
in the the Option
stock Agreement
option (filed as
agreement, Exhibit 99.4
dated as to the Issuer's
of May 31, Report on Form
1999 (the 8-K dated
"Option June 8, 1999,
Agree- which Exhibit
ment"), is incorpor-
between ated herein by
the Issuer reference).
and the
Reporting
Person
(filed as
Exhibit
99.4 to
the
Issuer's
Report on
Form 8-K
dated
June 8,
1999,
which
Exhibit is
incorpor-
ated here-
in by
reference.)
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</TABLE>
Explanation of Responses:
** Beneficial ownership of 13,025,917 shares of Common Stock reported hereunder
is being so reported solely as a result of the Option Agreement. The option
granted pursuant to the Option Agreement has not yet become exercisable. Because
such option will not become exercisable unless and until certain specified
events occur, the Reporting Person expressly disclaims beneficial ownership of
all such shares, and this report shall not be deemed an admission that the
Reporting Person is the beneficial owner of the reported securities for purposes
of Section 16 or for any other purpose.
***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 is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
/s/ Camillo DiFrancesco June 9, 1999
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Name: Camillo DiFrancesco Date
Title: Senior Vice President & Chief Financial Officer
***Signature of Reporting Person
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