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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _____ )*
DDL Electronics. Inc.
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(Name of Issuer)
Common Stock (Par value $.01)
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(Title of Class of Securities)
233167 105
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(CUSIP Number)
Gregory L. Horton, 2151 Anchor Court, Newbury Park, CA 91320 (805)376-2595
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
January 12, 1996
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(Date of Event which Requires Filing or this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule l3D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement [x].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has filed
no amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies should be sent.
*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 disclosures provided in a prior cover page.
The information required on 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).
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Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Gregory L. Horton
2. Check the appropriate box if a member of a group (a)[ ] (b)[ ]
3. SEC use only.
4. Source of funds.
PF
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
U.S. Citizen
7. Number of shares beneficially owned by each reporting person with
sole voting power
1,000,000
8. Number of shares beneficially owned by each reporting person with
shared voting power
Not applicable
9. Number of shares beneficially owned by each reporting person with
sole dispositive power.
1,000,000
10. Number of shares beneficially owned by each reporting person with
shared dispositive power
Not applicable
11. Aggregate amount beneficially owned by each reporting person.
1,000,000
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
5.3%
14. Type of reporting person
IN
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Item 1. Security and Issuer
This schedule relates to shares of common stock, $.01 par value ("Common
Stock") of DDL Electronics, Inc., a Delaware corporation (the "Company"),
whose principal executive offices are located at 2151 Anchor Court,
Newbury Park, CA 91320.
Item 2. Identity and Background.
(a) The name of the person filing this schedule is Gregory L.
Horton.
(b) Mr. Horton's address is 2151 Anchor Court, Newbury Park, CA
91320.
(c) Mr. Horton's present principal occupation is President and
Chief Executive Officer of the Company, whose principal
executive offices are located at 2151 Anchor Court, Newbury
Park, CA 91320.
(d) During the past five years, Mr. Horton has not been convicted
in any criminal proceeding.
(e) During the past five years, Mr. Horton has not been a party to
civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in a judgment, 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.
(f) Mr. Horton is a citizen of the United States
Item 3. Source and Amount of Funds or Other Consideration.
Mr. Horton acquired the shares covered by this filing in
exchange for his ownership interest in SMTEK, Inc., a
privately held electronics contract manufacturing company
which was acquired by the Company on January 12, 1996 pursuant
to the Agreement for Purchase of Shares dated October 6, 1995.
Mr. Horton was and continues to be the President and Chief
Executive Officer of SMTEK, Inc.
Item 4. Purpose of Transaction
The purpose of this transaction was to finance in part the
acquisition of SMTEK, Inc. by the Company, as further described
in the Form 8-K dated January 29, 1996 filed by DDL
Electronics, Inc., pursuant to the Agreement for Purchase of
Shares dated October 6, 1995. In connection with this
acquisition, Mr. Horton was appointed President and Chief
Executive Officer of the Company.
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Item 5. Interest in Securities of the Issuer
(a) Mr. Horton is the owner and holder of record of 1,000,000
shares of Common Stock representing in the aggregate 5.3% of
such class.
(b) Mr. Horton has the sole power to vote or to direct the vote and
the sole power to dispose or to direct the disposition of
1,000,000 shares of Common Stock.
(c) Mr. Horton effected the following transactions in the shares of
Common Stock during the past 60 days:
On January 12, 1996, he acquired 1,000,000 shares of
Common Stock in exchange for his ownership interest in
SMTEK, Inc.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
On October 6, 1995, the Company entered into the Agreement for
Purchase of Shares dated October 6, 1995 to purchase 100% of
SMTEK's outstanding shares. The acquisition was consummated on
January 12, 1996. Mr. Horton's ownership interest was acquired
for 1,000,000 shares of Common Stock. The ownership interests
of the other SMTEK shareholders were acquired for cash payments
by the Company in the aggregate amount of approximately $6.8
million.
Item 7. Material to Be Filed as Exhibits.
Agreement for Purchase of Shares dated October 6, 1995 between
DDL Electronics, Inc., as buyer, and the shareholders of SMTEK
(incorporated by reference to Exhibit No. 99.1 of the Company's
Form 8-K filed with the Securities and Exchange Commission on
January 29, 1996).
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
information set forth in this statement is true, complete and correct.
March 8, 1996 /s/ Gregory L. Horton
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Date Signature
Gregory L. Horton
President and Chief Executive Officer
DDL Electronics, Inc.
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Name/Title
