SCHEDULE 13D
Amendment No. 5
Toastmaster Incorporated
common stock
Cusip # 888791100
Filing Fee: No
Cusip # 888791100
Item 1: Reporting Person - Fidelity International Limited
Item 4: PF
Item 6: Bermuda
Item 7: None
Item 8: None
Item 9: None
Item 10: None
Item 11: 581,857
Item 13: 7.67%
Item 14: HC, IA
PREAMBLE
The Schedule 13D, dated February 12, 1993, and amended February 24,
1993, March 11, 1993, March 19, 1993, and June 21, 1993, filed by Fidelity
International Limited with respect to the common stock, $0.10 par value per
shares (the "Shares") of Toastmaster Incorporated (the "Company") is hereby
amended as set forth below. The Shares to which it relates are owned by
Fidelity International Limited, through its subsidiaries and affiliates.
Item 1. Security and Issuer.
This statement relates to shares of the Common Stock, $0.10 par value
(the "Shares") of Toastmaster Incorporated, a Delaware corporation (the
"Company"). The principal executive offices of the Company are located at
1801 North Stadium Boulevard, Columbia, MO 65202.
Item 2. Identity and Background.
Item 2 is amended as follows:
This statement is being filed by Fidelity International Limited, a
Bermuda joint stock company incorporated for an unlimited duration by private
act of the Bermuda legislature ("FIL"). A separate Schedule 13D is being
filed by FMR Corp., a Massachusetts Corporation ("FMR"), with respect to the
Shares. FIL is an investment adviser which provides investment advisory and
management services to a number of non-U.S. investment companies or instrument
trusts (the "International Funds") and certain institutional investors. The
principal office of FIL is located at Pembroke Hall, 42 Crow Lane, Hamilton,
Bermuda.
FMR is a holding company one of whose principal assets is the capital
stock of a wholly-owned subsidiary, Fidelity Management & Research Company
("Fidelity"), which is also a Massachusetts corporation. Fidelity is an
investment adviser which is registered under Section 203 of the Investment
Advisers Act of 1940 and which provides investment advisory services to more
than 30 investment companies which are registered under Section 8 of the
Investment Company Act of 1940 and serves as investment adviser to certain
other funds which are generally offered to limited groups of investors (the
"Fidelity Funds"). Fidelity Management Trust Company ("FMTC"), a wholly-owned
subsidiary of FMR Corp. and a bank as defined in Section 3(a)(6) of the
Securities Exchange Act of 1934, serves as trustee or managing agent for
various private investment accounts, primarily employee benefit plans and
serves as investment adviser to certain other funds which are generally
offered to limited groups of investors (the "Accounts"). Various directly or
indirectly held subsidiaries of FMR are also engaged in investment management,
venture capital asset management, securities brokerage, transfer and
shareholder servicing and real estate development. The principal offices of
FMR, Fidelity, and FMTC are located at 82 Devonshire Street, Boston,
Massachusetts 02109.
Prior to June 30, 1980, FIL was a majority-owned subsidiary of Fidelity.
On that date, the shares of FIL held by Fidelity were distributed as a
dividend, to the shareholders of FMR. FIL currently operates as an entity
independent of FMR and Fidelity. The International Funds and FIL's other
clients, with the exception of Fidelity and an affiliate of Fidelity, are non-
U.S. entities.
Edward C. Johnson 3d owns 34.0% of the outstanding voting common stock
of FMR. In addition, a partnership controlled by Mr. Johnson and members of
his family own shares of FIL voting stock with the right to cast approximately
47.22% of the total votes which may be cast by all holders of FIL voting
stock. Mr. Johnson 3d is Chairman of FMR Corp. and FIL. FMR Corp. and FIL
are separate and independent corporate entities. FMR Corp. and FIL are
managed independently and their boards of Directors are generally composed of
different individuals. Their investment decisions are made independently, and
clients are different organizations. The business address and principal
occupation of Mr. Johnson 3d is set forth in Schedule A hereto.
Effective July 1, 1993, Fidelity became sub-advisor to American Values
IV (Bermuda) Ltd. ("AVIV"), Fidelity American Special Situations Trust
("FASST"), and Domestic Values Fund (the "FMR Account").
AVIV is a closed end investment company established under the Companies
Act, 1981 of Bermuda, as amended. Its principal office is at Pembroke Hall,
42 Crow Lane, Hamilton, Bermuda. The investment manager of AVIV is FIL. The
FMR Account is maintained by FMR. FASST is a unit trust established and
authorized by the Department of Trade and Industry under the laws of England.
The investment advisor of FASST is Fidelity Investment Services Limited, an
English company and a subsidiary of FIL.
The Shares to which this statement relates are owned directly by one of
the Fidelity Funds, the account of FMR, and by Fidelity International Limited,
through its subsidiaries and affiliates.
FMR and FIL are of the view that they are not acting as a "group" for
purposes of Section 13(d) under the Securities Exchange Act of 1934 (the "1934
Act") and that they are not otherwise required to attribute to each other the
"beneficial ownership" of securities "beneficially owned" by the other
corporation within the meaning of Rule 13d-3 promulgated under the 1934 Act.
Therefore, they are of the view that the Shares held by the other corporations
need not be aggregated for purposes of Section 13(d). However, FMR is making
this filing on a voluntary basis as if all of the Shares are beneficially
owned by FMR and FIL on a joint basis.
The name, residence or business address, principal occupation or
employment and citizenship of each of the executive officers and directors of
FMR are set forth in Schedule A hereto.
Within the past five years, none of the persons named in this Item 2 or
listed on Schedule A has been convicted in any criminal proceeding (excluding
traffic violations or similar misdemeanors) or has been a party to any civil
proceeding and as a result thereof was or is subject to any judgment, decree
or final order enjoining future violations of, or prohibiting or mandating
activities subject to , federal or state securities laws or finding any
violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended as follows:
AVIV which own or owned Shares purchased in the aggregate 72,697 Shares
for cash in the amount of approximately $711,778, including brokerage
commissions. AVIV used its own assets in making such purchase and no part of
the purchase price is represented by borrowed funds. Proceeds from 72,697
Shares sold aggregated approximately $471,490. The attached Schedule B sets
forth Shares purchased and/or sold since April 22, 1994.
FASST which own or owned Shares purchased in the aggregate 82,500 Shares
for cash in the amount of approximately $673,525, including brokerage
commissions. FASST used its own assets in making such purchase and no part of
the purchase price is represented by borrowed funds. Proceeds from 82,500
Shares sold aggregated approximately $656,827.
The FMR Account which own or owned Shares purchased in the aggregate
18,403 Shares for cash in the amount of approximately $180,184,including
brokerage commissions. The FMR Account used its own assets in making such
purchase and no part of the purchase price is represented by borrowed funds.
Proceeds from 18,346 Shares sold aggregated approximately $119,681.
The Fidelity Funds which own or owned Shares purchased in the aggregate
648,100 Shares for cash in the amount of approximately $5,928,915, including
brokerage commissions. The Fidelity Funds used their own assets in making
such purchase and no part of the purchase price is represented by borrowed
funds. Proceeds from 66,300 Shares sold aggregated approximately $467,337.
The Accounts of FMTC which own or owned Shares purchased in the
aggregate 20,000 Shares for cash in the amount of approximately $175,250,
including brokerage commissions. The Accounts used their own assets in making
such purchase and no part of the purchase price is represented by borrowed
funds. Proceeds from 20,000 Shares sold aggregated approximately $151,621.
Item 4. Purpose of Transaction.
The purpose of FIL or its subsidiaries in having the International Funds
and accounts purchase Shares (see Item 5 below) is to acquire an equity
interest in the Company in pursuit of specified investment objectives
established by the Board of Directors of the International Funds.
FIL or its subsidiaries may continue to have the International Funds and
accounts purchase Shares subject to a number of factors, including, among
others, the availability of Shares for sale at what FIL or its subsidiaries
considers to be reasonable prices and other investment opportunities that may
be available to the International Funds and accounts.
FIL and its subsidiaries intend to review continuously the equity
position of the International Funds and accounts in the Company. Depending
upon future evaluations of the business prospects of the Company and upon
other developments, including, but not limited to, general economic and
business conditions and money market and stock market conditions, FIL and its
subsidiaries may determine to cause the International Funds to cease making
additional purchases of Shares or to increase or decrease the equity interest
in the Company by acquiring additional Shares, or by disposing of all or a
portion of the Shares.
FIL and its subsidiaries have no present plan or proposal which relates
to or would result in (i) an extraordinary corporate transaction, such as a
merger, reorganization, liquidation, or sale or transfer of a material amount
of assets involving the Company or any of its subsidiaries, (ii) any change in
the Company's present Board of Directors or management, (iii) any material
changes in the Company's present capitalization or dividend policy or any
other material change in the Company's business or corporate structure, (iv)
any change in the Company's charter or by-laws, or (v) the Company's common
stock becoming eligible for termination of its registration pursuant to
Section 12(g)(4) of the 1934 Act.
Item 5. Interest in Securities of Issuer.
Item 5 is amended as follows:
Although Item 5 assumes that FMR, Fidelity, and FIL beneficially own all
581,857 Shares, reference is made to Item 2 for a disclaimer of beneficial
ownership with respect to the securities which are "beneficially owned" by the
other corporations.
(a) FIL beneficially owns, as investment adviser or the parent of the
investment adviser to the International Funds and accounts, zero Shares, or
approximately 0.00% of the outstanding Shares of the Company. FMR beneficially
owns, through its own account ("FMR Account") 57 Shares, or approximately
0.00% of the outstanding Shares of the Company, and through Fidelity, as
investment adviser to the Fidelity Funds, 581,800 Shares, or approximately
7.67% of the outstanding Shares of the Company. The combined holdings of FMR,
Fidelity, AVIV, the FMR Account, and FIL are 581,857 Shares, or approximately
7.67% of the outstanding Shares of the Company.
(b) The International Funds, the International Pension Accounts and
FIL, as investment adviser to the International Funds and International
Pension Accounts, each has the sole power to vote and the sole power to
dispose of the zero Shares held by the International Funds and the
International Pension Accounts. FIL, FMR Corp., through its control of
Fidelity, and AVIV each has sole power to dispose of the zero Shares owned by
AVIV. FMR Corp., through its control of Fidelity, and AVIV each has sole
power to vote and to dispose of the zero Shares owned by AVIV.
Item 6. Contract, Arrangements, Understandings or Relationships With
Respect to Securities
of the Issuer.
Inasmuch as FIL is no longer the beneficial owner of more than 5% of the
number of shares outstanding, FIL has no further reporting obligation under
Section 13(d) of the Securities Exchange Act of 1934 or the rules and
regulations promulgated by the Securities and Exchange Commission thereunder.
This statement speaks as of its date, and no inference should be drawn that no
change has occurred in the facts set forth herein after the date hereof.
Neither FIL nor any of its affiliates nor, to the best knowledge of FIL,
any of the persons named in Schedule A hereto has any joint venture, finder's
fee, or other contract or arrangement with any person with respect to any
securities of the Company.
Item 7. Material to be Filed as Exhibits.
This statement speaks as of its date, and no inference should be drawn
that no change has occurred in the facts set forth herein after the date
hereof.
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.
Fidelity International Limited
DATE: June 29, 1994 By /s/ Arthur Loring /s/Arthur
Loring
Arthur Loring
Attorney-in-Fact
SCHEDULE A
POSITION WITH PRINCIPAL
NAME AND ADDRESS INTERNATIONAL OCCUPATION
Edward C. Johnson 3d Director & Chairman of the Board Chief Executive
82 Devonshire Street Officer-FMR Corp.
Boston, MA 02109
Barry J. Bateman Director Chief Executive
25 Lovat Lane Officer-Fidelity
London, England International Ltd.
EC3R 8LL
William L. Byrnes Director Vice Chairman-
82 Devonshire Street FMR Corp.
Boston, MA 02109
Martin P. Cambridge Chief Financial Officer CFO-Fidelity
Oakhill House International Limited
130 Tonbridge Road
Hildenborough, Kent,
TN119DZ
Charles T. M. Collis Director, V.P., & Secretary Private Attorney
P.O. Box HM 391
Hamilton HMBX, Bermuda
Glen R. Moreno Director Director-Fidelity
25 Lovat Lane International Ltd.
London, England
EC3R 8LL
David J. Saul Director Executive V.P. &
P.O. Box 650 President-Fidelity
Hamilton, Bermuda Bermuda, a division
of Fidelity
International Ltd.
Messrs. Johnson 3d, Byrnes, and Moreno are United States citizens and
Messrs. Cambridge, Collis, Saul, and Bateman are citizens of the United
Kingdom.
SCHEDULE B
TOASTMASTER INCORPORATED
AVIV sold shares since April 22, 1994 at the dates and at the prices set forth
below. The transactions were made for cash in open market transactions.
DATE SHARES PRICE
06-16-94 14,700 $6.25
06-17-94 16,000 6.27
06-20-94 7,843 6.25
