<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 10)*
VERITAS DGC, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
92343P 107
-----------------------------------
(CUSIP Number)
T. William Porter
Porter & Hedges, L.L.P.
700 Louisiana, 35th Floor
Houston, Texas 77002
(713) 226-0635
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 30, 1996
-----------------------------------
(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 / /.
Check the following box if a fee is being paid with the statement / /. (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 are to
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).
<PAGE> 2
CUSIP NO. 92343P 107 PAGE 2 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DN FUNDING CORP.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 92343P 107 PAGE 3 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CCF/JUPITER, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 490,287**
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 490,287**
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
490,287**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
** Includes warrants to acquire 34,800 shares.
<PAGE> 4
CUSIP NO. 92343P 107 PAGE 4 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DJ INVESTORS, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 107,227
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 107,227
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
107,227
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
CUSIP NO. 92343P 107 PAGE 5 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JUPITER INVESTMENT COMPANY, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 17,451
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 17,451
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,451
- --------------------------------------------------------------------------------
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*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
CUSIP NO. 92343P 107 PAGE 6 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J/D FUNDING CORP.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 146,224
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 146,224
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,224
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 92343P 107 PAGE 7 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
QUANTUM FUND N.V.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IV; CO
- --------------------------------------------------------------------------------
(1) See Item 5.
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
CUSIP NO. 92343P 107 PAGE 8 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GEORGE SOROS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
983,930(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN; IA
- --------------------------------------------------------------------------------
(1) See Item 5.
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 9
CUSIP NO. 92343P 107 PAGE 9 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FUND AMERICAN INVESTMENT SUBSIDIARY I, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 10
CUSIP NO. 92343P 107 PAGE 10 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FUND AMERICAN ENTERPRISES, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 719,895
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 719,895
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
719,895
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 11
CUSIP NO. 92343P 107 PAGE 11 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 115,000
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 115,000
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 12
CUSIP NO. 92343P 107 PAGE 12 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE 1989 INVESTORS LIMITED
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 30,173
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 30,173
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,173
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 13
CUSIP NO. 92343P 107 PAGE 13 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE 1989C OFFSHORE INVESTORS LIMITED
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 32,311
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 32,311
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,311
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 14
CUSIP NO. 92343P 107 PAGE 14 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE PARTNERS 1989A, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 46,092
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 46,092
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
46,092
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 15
CUSIP NO. 92343P 107 PAGE 15 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRANCISCO A. GARCIA
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Spain
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
108,576
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
108,576
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
108,576
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 16
CUSIP NO. 92343P 107 PAGE 16 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A. TORREY READE
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
108,576
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
108,576
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
108,576
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 17
CUSIP NO. 92343P 107 PAGE 17 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DOUGLAS B. THOMPSON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 24,467**
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
163,675***
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 24,467**
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
163,675***
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
188,142**, ***
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
**Includes options to acquire 13,332 shares.
***Includes warrants to acquire 42,000 shares.
<PAGE> 18
CUSIP NO. 92343P 107 PAGE 18 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.O. NELSON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 19
CUSIP NO. 92343P 107 PAGE 19 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NATALIE THOMPSON DEFINED BENEFIT PENSION PLAN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 30,100
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 30,100
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 20
CUSIP NO. 92343P 107 PAGE 20 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ARIK YALE PRAWER
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 5,866
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 5,866
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,866
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
-%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 21
CUSIP NO. 92343P 107 PAGE 21 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JUPITER MANAGEMENT CO., INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 42,000**
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 42,000**
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
42,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
**Comprised wholly of warrants to acquire shares.
<PAGE> 22
CUSIP NO. 92343P 107 PAGE 22 OF 37 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GEORGE F. BAKER
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 13,332**
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 13,332**
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,332
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
**Comprised wholly of options to acquire shares.
<PAGE> 23
Page 23 of 37
ITEM 1. SECURITY AND ISSUER.
This statement is filed with respect to the ordinary shares, par
value $.01 per share (the "Common Stock"), of Veritas DGC Inc. (the "Issuer").
The address of the Issuer's principal executive offices is 3701 Kirby Drive,
Houston, Texas 77098.
ITEM 2. IDENTITY AND BACKGROUND.
This filing is being made jointly on behalf of (i) Quantum Fund N.V., a
Netherlands Antilles corporation ("Quantum"), (ii) George Soros, (iii) the
members of Jupiter & Associates, a New York general partnership ("Jupiter") and
certain affiliates of such members, (iv) Neptune Partners - 1989A, L.P., a
Delaware limited partnership, Neptune 1989 Investors Limited, a British Virgin
Islands company, and Neptune 1989C Offshore Investors Limited, a British Virgin
Islands company (collectively, the "Neptune Entities") and Francisco A. Garcia
and A. Torrey Reade, who share voting and investment power with respect to the
securities held by the Neptune Entities, (v) Fund American Investment Subsidiary
I, Inc. ("FAIS"), Fund American Enterprises, Inc. and Fund American Enterprises
Holdings, Inc. (formerly known as The Fund American Companies, Inc.), (vi)
Douglas B. Thompson ("Thompson"), the sole stockholder of J/D Funding Corp.
("J/D Funding") and Jupiter Investment Company, Inc. ("JIC"), and the chairman
of the board and president of Jupiter Management Co., Inc. ("Jupiter
Management"), (vii) D.O. Nelson ("Nelson"), the sole stockholder of DN Funding
Corp. ("DN Funding"), (viii) Natalie Thompson Defined Benefit Pension Plan (the
"Thompson Plan"), (ix) Arik Yale Prawer ("Prawer"), and (x) George F. Baker
("Baker"), general partner of CCF/Jupiter L.P. ("CCF/Jupiter"). Such filing
persons are sometimes referred to herein as the "Filing Persons."
This statement on Schedule 13D is being filed to report the August 30,
1996, termination of the Funding and Stockholders Agreement dated as of April 9,
1991, by and among Jupiter & Associates, Quantum, ATID II Investors Limited
Partnership, JIC, J/D Funding, FAIS, DJ Investors, L.P., CCF/Jupiter, DN
Funding, and Digicon Inc. (the "Funding and Stockholder Agreement"), and thus
terminate any further filing requirement of the Filing Persons as a "group."
Also see Item 4. herein.
This statement on Schedule 13D constitutes Amendment No.10 to an
initial statement on Schedule 13D dated December 1, 1986 (the "Initial
Statement"), and all subsequent amendments thereto (the "Previous Amendments"),
on behalf of the Filing Persons. Further information required by this Item 2
of Schedule 13D is contained in the Schedules I or Item 2 to the Initial
Statement and the Previous Amendments thereto, which are hereby incorporated by
reference herein in their entirety. Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to them in the
Initial Statement. As amended hereby the Initial Statement and Previous
Amendments no longer have any force and effect whatsoever.
Each of the Filing Persons takes responsibility for only the
information contained herein regarding itself, himself or herself and each
Filing Person expressly disclaims responsibility for the information relating
to any other Filing Person.
<PAGE> 24
Page 24 of 37
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is not applicable. In connection with the termination of the
Funding and Stockholder Agreement, the Filing Person(s) did not make, acquire
or dispose of any securities of the Issuer.
ITEM 4. PURPOSE OF TRANSACTION.
As previously disclosed in the Initial Statement and the Previous
Amendments all Filing Persons except Baker and Jupiter Management were party to
or were bound by the Funding and Stockholders Agreement and therefore, such
Filing Persons may have been deemed to have formed a group pursuant to Section
13 of the Securities and Exchange Act of 1934, as amended, and the rules and
regulations thereunder. Such group may have been deemed to own beneficially
more than 5% of the Issuer's outstanding shares of Common Stock. Additionally,
by virtue of its affiliation to certain entities that are party to the Funding
and Stockholders Agreement, Baker and Jupiter Management may have been deemed
to be part of such group.
Effective August 30, 1996, the Funding and Stockholder Agreement was
terminated and all restrictions or obligations regarding the voting or transfer
of the Issuer's shares or other securities otherwise governed by the Funding
and Stockholder Agreement terminated and became of no further force or effect
whatsoever. Accordingly, this Amendment No. 10 is being filed to reflect the
termination of any group that the Filing Persons may have formed.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
As a result of the termination agreement referred to in Item 7, the
understandings and relationships among the Filing Parties with respect to
the voting securities of the Issuer of the type referred to in this Item were
terminated on August 30, 1996 upon consummation of the business combination
between the Issuer and Veritas Energy Services, Inc. Except as set forth below,
no Filing Person is the beneficial owner of more than 5% of the outstanding
Common Stock.
Mr. George Soros may be deemed to be the beneficial owner of 983,930
Ordinary Shares held for the account of Quantum Partners LDC ("Quantum
Partners"), whose principal shareholder is Quantum Fund N.V. Quantum Partners
has granted investment discretion to Soros Fund Management, of which Mr. Soros
is the sole proprietor, pursuant to an investment advisory contract.
Accordingly, Mr. Soros may be deemed to have voting and dispositive power over
the securities held for the account of Quantum Partners. Reference is made to
the Schedule 13D dated September 12, 1996 filed by Mr. Soros, reporting the
Ordinary Shares held for the account of Quantum Partners.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Effective August 30, 1996, the Filing Persons do not have any
contracts, arrangements, understandings or relationships with respect to any
securities of the Issuer.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
(A) Statement of Joint Filing.
(B) Form of Termination Agreement dated July 3, 1996.
<PAGE> 25
Page 25 of 37
(C) Quantum power of attorney.
(D) Soros power of attorney.
<PAGE> 26
Page 26 of 37
SIGNATURES
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.
Date: October 18, 1996 CCF JUPITER L.P.
By: /s/ GEORGE F. BAKER
--------------------------------
George F. Baker
General Partner
Date: October 18, 1996 JUPITER MANAGEMENT CO., INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson
President
Date: October 18, 1996 /s/ DOUGLAS B. THOMPSON
------------------------------------
Douglas B. Thompson
Date: October 18, 1996 /s/ GEORGE F. BAKER
------------------------------------
George F. Baker
Date: October 22, 1996 QUANTUM FUND N.V.
By: /s/ SEAN S. WARREN
--------------------------------
Sean S. Warren,
Attorney-in-fact
Date: October 22, 1996 GEORGE SOROS
By: /s/ SEAN S. WARREN
--------------------------------
Sean S. Warren,
Attorney-in-fact
Date: October 18, 1996 NEPTUNE PARTNERS - 1989A, L.P.
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia
Authorized Representative
<PAGE> 27
Page 27 of 37
Date: October 18, 1996 NEPTUNE 1989 INVESTORS LIMITED
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia
Authorized Representative
Date: October 18, 1996 NEPTUNE 1989C OFFSHORE INVESTORS
LIMITED
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia
Authorized Representative
FRANCISCO A. GARCIA
-----------------------------------
Francisco A. Garcia
Date: October 18, 1996 A. TORREY READE
------------------------------------
A. Torrey Reade
Date: October 18, 1996 FUND AMERICAN INVESTMENT SUBSIDIARY
I, INC.
By: /s/ JEAN C. BROWN
--------------------------------
Jean C. Brown
President
Date: October 18, 1996 FUND AMERICAN ENTERPRISES, INC.
By: /s/ JERRY L. BAXTER
----------------------------------
Jerry L. Baxter
President
<PAGE> 28
Page 28 of 37
Date: October 18, 1996 /s/ DOUGLAS B. THOMPSON
------------------------------------
Douglas B. Thompson
Date: October 18, 1996 J/D FUNDING CORP.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson
President
Date: October 18, 1996 JUPITER INVESTMENT COMPANY, INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson
President
<PAGE> 29
Page 29 of 37
Date: October 18, 1996 JUPITER MANAGEMENT CO., INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson
President
Date: October ___, 1996 DN FUNDING CORP.
By:
--------------------------------
D.O. Nelson
Title:
------------------------------
Date: October ___, 1996 NATALIE THOMPSON DEFINED BENEFIT
PENSION PLAN
By:
--------------------------------
Name:
-------------------------------
Title:
------------------------------
Date: October ___, 1996
------------------------------------
Arik Yale Prawer
Date: October 18, 1996 CCF/JUPITER L.P.
By: /s/ GEORGE F. BAKER
--------------------------------
George F. Baker
General Partner
<PAGE> 30
Page 30 of 37
EXHIBIT A
STATEMENT OF JOINT SCHEDULE 13D FILING
The undersigned acknowledge and agree that the foregoing Amendment to
the Statement on Schedule 13D with respect to the common stock, par value $.01
per share, of Veritas DGC Inc. shall be filed on behalf of each of them.
Dated: October 18, 1996. CCF JUPITER L.P.
By: /s/ GEORGE F. BAKER
--------------------------------
George F. Baker
General Partner
JUPITER MANAGEMENT CO., INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson
President
/s/ DOUGLAS B. THOMPSON
------------------------------------
Douglas B. Thompson
/s/ GEORGE F. BAKER
------------------------------------
George F. Baker
QUANTUM FUND N.V.
By: /s/ SEAN S. WARREN
--------------------------------
Sean S. Warren
Attorney in fact
GEORGE SOROS
By: /s/ SEAN S. WARREN
--------------------------------
Sean S. Warren
Attorney in fact
<PAGE> 31
Page 31 of 37
NEPTUNE PARTNERS - 1989A, L.P.
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia,
Authorized Representative
NEPTUNE 1989 INVESTORS LIMITED
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia,
Authorized Representative
NEPTUNE 1989C OFFSHORE INVESTORS
LIMITED
By: /s/ FRANCISCO A. GARCIA
--------------------------------
Francisco A. Garcia,
Authorized Representative
/s/ FRANCISCO A. GARCIA
------------------------------------
Francisco A. Garcia
/s/ A. TORREY READE
------------------------------------
A. Torrey Reade
FUND AMERICAN INVESTMENT SUBSIDIARY I, INC.
By: /s/ JEAN C. BROWN
--------------------------------
Jean C. Brown
President
<PAGE> 32
Page 32 of 37
FUND AMERICAN ENTERPRISES, INC.
By: /s/ JERRY L. BAXTER
--------------------------------
Jerry L. Baxter,
President
/s/ DOUGLAS B. THOMPSON
------------------------------------
Douglas B. Thompson
J/D FUNDING CORP.
By: /s/ D. B. THOMPSON
--------------------------------
D. B. Thompson,
President
<PAGE> 33
Page 33 of 37
JUPITER INVESTMENT COMPANY, INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson,
President
JUPITER MANAGEMENT CO., INC.
By: /s/ DOUGLAS B. THOMPSON
--------------------------------
Douglas B. Thompson,
President
DN FUNDING CORP.
By:
--------------------------------
D.O. Nelson
Title:
------------------------------
NATALIE THOMPSON DEFINED BENEFIT
PENSION PLAN
By:
--------------------------------
Name:
-------------------------------
Title:
------------------------------
------------------------------------
Arik Yale Prawer
CCF/JUPITER L.P.
By: /s/ GEORGE F. BAKER
--------------------------------
George F. Baker
General Partner
<PAGE> 34
Page 34 of 37
EXHIBIT B
[FORM OF TERMINATION AGREEMENT]
July 3, 1996
TO THE PERSONS ON THE ATTACHED DISTRIBUTION LIST
Re: Digicon Inc.
Ladies and Gentlemen:
Our respective entities, or parties which are affiliates of such
entities, are subject to one or more of the following agreements relating to
Digicon Inc.:
1. The Securityholders Agreement dated as of May 1, 1990, among
Jupiter Management Company, Jupiter Investment Company, Inc.,
Cambridge Capital and The Fund American Companies, Inc. (now
known as "Fund American Enterprises Holdings, Inc.") (the
"1990 Agreement");
2. The Funding and Stockholders Agreement dated as of April 9,
1991, by and among Jupiter & Associates, Quantum Fund, N.V.,
ATID II Investors Limited Partnership, Jupiter Investment
Company, Inc., J/D Funding Corp., Fund American Investment
Subsidiary I, Inc., DJ Investors, L.P., CCF/Jupiter, L.P., DN
Funding Corp., and Digicon Inc. (the "1991 Agreement"); and
3. The Agreement dated as of January 21, 1993, among J/D Funding
Corp., Jupiter Investment Company, Inc., CCF/Jupiter, L.P., DJ
Investors, L.P., Fund American Investment Subsidiary I, Inc.,
DN Funding Corp., Neptune Partners - 1989A, L.P., Neptune 1989
Investors Limited, Neptune 1989C Offshore Investors Limited,
Drake & Co., Restart Partners, L.P., Restart Partners II,
L.P., Ingrid Morseman, Natalie Thompson Defined Pension Plan,
and Arik Yale Prawer (the "1993 Agreement").
Each of these agreements (collectively, the "Agreements") relate in
some manner to various rights and restrictions (both as to voting and to
transfers) with respect to securities issued by Digicon. At the time the
Agreements were entered into, the rights and restrictions contained therein
probably enhanced the value of each party's holdings of Digicon securities.
However, with the passage of time and the pending transaction with Veritas
Energy Services Inc. ("Veritas"), the Agreements now may unduly limit the
parties' flexibility and detract from the value of their holdings.
In short, the Agreements have outlived their usefulness. We propose
that the Agreements be terminated and that all restrictions or obligations
regarding the voting or transfer of Digicon shares or other securities
otherwise governed by those Agreements terminate and become of no further force
or effect whatsoever as of consummation of the transaction with Veritas
(herein, the "Termination of Agreements").
As you know, the merger of Digicon and Veritas (the "Transaction") is
pending and is expected to close in August. As a result of the Transaction,
the combined Digicon stockholdings of our entities will be below 20% of the
outstanding voting shares, thereby rendering certain restrictions contained in
Digicon's charter and bylaws no longer applicable. As part of the Transaction,
Veritas
<PAGE> 35
Page 35 of 37
has requested that each of us expressly (i) waive all rights under Section 8.1
of Digicon's bylaws to require the affirmative vote of at least five of the
Jupiter Participants and Quantum Participants (as defined in the bylaws) for
approval of certain transactions, (ii) agree that there is no further right to
designate any person for election to Digicon's board of directors and (iii)
agree that none of the members of Digicon's board are Jupiter designees or
Quantum designees. The foregoing agreements and waiver are herein referred to
as the "Termination of Organizational Document Provisions").
THE TERMINATION OF THE AGREEMENTS AND TERMINATION OF ORGANIZATIONAL
DOCUMENT PROVISIONS WILL BE EFFECTIVE UPON CONSUMMATION OF THE TRANSACTION. IF
THE TRANSACTION IS NOT CONSUMMATED, ALL AGREEMENTS CONTAINED HEREIN WILL BE
VOID.
If the Termination of Agreements and the Termination of Organizational
Document Provisions are acceptable to you, please sign both copies of this
letter and return one to the undersigned at your earliest convenience. If
signed by all necessary parties, we will forward a complete set of signed
copies to each of you as soon as we ourselves have received a complete set.
Although you hereby acknowledge that the provisions of the Agreements
are personal to you, if you are aware that any of the Digicon shares or
securities which are subject to the Agreements have been transferred to other
entities that may be deemed to be parties to the Agreements, please forward a
copy of this letter to such entities.
If those entities agree to the foregoing, they should appropriately
complete the signature block and give a description as to which of the original
parties they are a successor to.
PLEASE RETURN THE FULLY EXECUTED COPY OF THIS LETTER AGREEMENT TO THE
UNDERSIGNED NOT LATER THAN JULY 17, 1996.
Sincerely,
JUPITER MANAGEMENT COMPANY
By:
-------------------------------
AGREED AND ACCEPTED:
By:
- -------------------------------------
(entity name)
By:
----------------------------------
Date:
--------------------------------
2
<PAGE> 36
Page 36 of 37
EXHIBIT C
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENT, that the Undersigned, QUANTUM FUND N.V.,
a corporation organized and existing under the laws of the Netherlands Antilles
and domiciled in Curacao, hereby designates, constitutes and appoints SEAN C.
WARREN as its agent and attorney-in-fact for the purpose of executing and
delivering, in the name and on behalf of the Undersigned, all documents
required to be filed with the Securities and Exchange Commission pursuant to
Section 13(d) or 16(a) of the Securities Exchange Act of 1934 in connection
with the beneficial ownership by the undersigned of any securities of DIGICON
INC., including, without limitation: (1) acquisition statements on Schedule
13D and any amendments thereto, (2) any joint filing agreements among the
Undersigned, Soros Fund Management and/or George Sorcs (together with such
other persons as may be designated by the attorney-in-fact) pursuant to SEC
Rule 13d-1(f), (3) any Initial Statements of Beneficial Ownership on Form 3,
(4) any Statements of Changes in Beneficial Ownership on Form 4 and (5) any
Annual Statement of Changes in Beneficial Ownership on Form 5.
IN WITNESS WHEREOF, the Undersigned has caused this instrument to be
executed by its Sole Managing Director this 13th day of August, 1992.
QUANTUM FUND N.V.
By: /s/ [Illegible]
---------------------------------
Curacao Corporation Company N.V.
Managing Director
<PAGE> 37
Page 37 of 37
EXHIBIT D
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, GEORGE SOROS, hereby make, constitute
and appoint SEAN C. WARREN as my agent and attorney in fact for the purpose of
executing in my name, in my personal capacity or in my capacity as sole
proprietor of Soros Fund Management: (1) all documents relating to the
beneficial ownership of securities required to be filed with the Securities and
Exchange Commission (the "SEC") pursuant to Section 13(d) or Section 16(a) of
the Securities Exchange Act of 1934 (the "Act") including, without limitation:
(a) any acquisition statements on schedule 13D, and any amendments thereto, (b)
any joint filing agreements pursuant to Rule 13d-1(f) and (c) any initial
statements of, or statements of changes in, beneficial ownership of securities
on Form 3 or Form 4 and (2) any information statements on Form 13F required to
be filed with the SEC pursuant to Section 13(f) of the Act.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument this 11th day of December,
1991.
/s/ GEORGE SOROS
-----------------------------
GEORGE SOROS
