CUSIP No. 816006-10-0 Page 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
================================================================================
Amendment No. 7 to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
The Seibels Bruce Group Inc.
(Name of Issuer)
Common Stock, $1.00 Par Value Per Share
(Title of Class of Securities)
816006-10-0
(CUSIP Number)
Mr. Charles H. Powers
(843)661-1941
2419 Summer Street Extension
Florence, SC 29502
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy To:
Francisco G. Llaca, Jr., Esq.
Suite 720
25 S. E. Second Avenue
Miami, FL 33131
(Date of Event which Requires Filing of 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 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box
[ ].
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
--------------------- ---------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSONS
Charles H. Powers
--------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
--------------------- ---------------------------------------------------------------------------------------------------
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
United States
--------------------- ---------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 3,183,026
PERSON WITH
------------ --------------------------------------------------------------------------------------
8 SHARED VOTING POWER
------------ --------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,183,026
------------ --------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,183,026
--------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
--------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41%
--------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------- ---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
--------------------- ---------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSONS
Estate of Walker Powers
--------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
--------------------- ---------------------------------------------------------------------------------------------------
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
United States
--------------------- ---------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 253,750
PERSON WITH
------------ --------------------------------------------------------------------------------------
8 SHARED VOTING POWER
------------ --------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
253,750
------------ --------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,750
--------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
--------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3%
--------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------- ---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
--------------------- ---------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSONS
Rex and Jane Huggins
--------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
--------------------- ---------------------------------------------------------------------------------------------------
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
United States
--------------------- ---------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 71,500
PERSON WITH
------------ --------------------------------------------------------------------------------------
8 SHARED VOTING POWER
------------ --------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
71,500
------------ --------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
71,500
--------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
--------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
--------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------- ---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
This Amendment No. 7 to Schedule 13D is being filed on behalf of the undersigned
Reporting Person to amend the Schedule 13D filed with the Securities and
Exchange Commission (the "Commission") on October 3, 1996, as amended (as
amended, the "Schedule 13D") relating to shares of common stock, par value $1.00
per share (the "Shares") of Seibels Bruce Group Inc., a South Carolina
corporation (the "Company"). Unless otherwise indicated, all capitalized terms
used herein but not defined herein shall have the same meanings as set forth in
the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 to the Schedule 13D is hereby amended, in pertinent part, as follows:
Since the date of Amendment No. 6 to the Schedule 13D, Charles H. Powers has
acquired 178,775 Shares which were purchased by Charles Powers for an aggregate
purchase price (excluding commission) of $139,444.50, which amount was provided
from his working capital.
Since the date of Amendment No. 6 to the Schedule 13D, neither the Estate of
Walker Powers, Jane Huggins, nor Rex Huggins have acquired any shares.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
Item 5 to the Schedule 13D is hereby amended, in pertinent part, as follows:
(a)-(b) As of the close of the business day November 13, 2000 Charles H. Powers
directly owned in the aggregate 3,183,026 Shares, which represents approximately
41% of the 7,832,000 Shares outstanding as of September 30, 2000, as reported in
the Company's Quarterly Report on Form 10Q for the quarter ended September 30,
2000 (the "Outstanding Shares"). Of those 3,183,026 Shares, 5,000 are options
granted in 1,250 Share increments for the years 1997, 1998, 1999, and 2000
pursuant to the Company's Stock Option Plan for Non-Employee Directors. Charles
H. Powers has the sole power to vote or direct the vote of all the Shares, and
the sole power to dispose or to direct the disposition of 3,183,026 Shares.
As of the close of business day of November 13, 2000, The Estate of Walker
Powers directly owned in the aggregate 253,750 Shares, which represents
approximately 3% of the 7,832,000 Shares outstanding as of September 30, 2000,
as reported in the Company's Quarterly Report on Form 10Q for the quarter ended
September 30, 2000 (the "Outstanding Shares"). Mr. Walker Powers died on January
20, 2000. Of those 253,750 Shares, 3,750 are options granted in 1,250 Share
increments for the years 1997, 1998, and 1999 pursuant to the Company's Stock
Option Plan for Non-Employee Directors. The Estate of Walker Powers has the sole
power to vote or direct the vote of all the shares, and the sole power to
dispose or to direct the disposition of 253,750 Shares.
As of the close of business day of November 13, 2000, Rex and Jane Huggins
directly owned in the aggregate 71,500 Shares, which represent approximately .9
% of the 7,832,000 Shares outstanding as of September 30,2000, as reported in
the Company's Quarterly Report on Form 10Q for the quarter ended September 30,
2000 (the "Outstanding Shares"). Rex and Jane
<PAGE>
Huggins jointly have the power to vote or direct the vote of all the Shares, and
the power to dispose or to direct the disposition of 71,500 Shares.
By reason of the provisions of Rule 13d-3 under the Securities Exchange Act of
1934, as amended (the "Act"), Mr. Charles H. Powers, Walker Powers, Jane Huggins
and Rex Huggins may be deemed to be a "group". By reason of the provisions of
Rule 13d-5 under the Act, the group consisting of these individuals may be
deemed to own all the Shares beneficially owned by Charles H. Powers, Walker
Powers, Jane Huggins and Rex Huggins. Mr. Charles H. Powers, Walker Powers, Jane
Huggins and Rex Huggins do not affirm the existence of such a group and disclaim
beneficial ownership of Shares directly held by each individual.
Except as set forth in Item (a)-(b), each of the persons named in this Item 5
(a)-(b) disclaims beneficial ownership of any Shares owned beneficially or of
record by any other person named in this Item 5 (a)-(b).
(c) Within the last sixty days, Charles Powers has purchased 178,775 Shares
through a private transaction as follows:
Date Number of Shares Price per Share
---- ---------------- ---------------
11/9/00 178,775 $.78
Except as set forth herein, none of the Reporting Persons has effected any
transaction in the Shares during the past sixty days.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS
Exhibit 1.1. Joint Filing Agreement. The original was filed with Amendment 1 to
the Schedule 13D on May 18, 1998. A copy of the original is attached hereto as
Exhibit 1.1.
SIGNATURE
After reasonable inquiry and to the best of each of the undersigned's knowledge
and belief, each certifies that the information set forth in this statement is
true, complete, and correct.
/s/ Charles H. Powers
---------------------------------
Charles H. Powers
<PAGE>
CUSIP No. 816006-10-0 Page 9
EXHIBIT INDEX
Exhibit 1.1. Joint Filing Agreement. The original was filed with
Amendment 1 to the Schedule 13D on May 18, 1998. A copy of the original is
attached hereto as Exhibit 1.1.
