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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 2)
WMS INDUSTRIES INC.
(Name of Issuer)
Common Stock, par value $0.50 per share
(Title of Class of Securities)
929297109
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(CUSIP Number)
Louis J. Nicastro
Orrin J. Edidin
c/o WMS Industries Inc.
3401 North California Avenue
Chicago, Illinois 60618
Telephone: (773) 961-1111
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 19, 1998
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(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 that is the subject of this Schedule 13D, and is
filing this Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
(Page 1 of 5 Pages)
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CUSIP NO. 929297109 13D PAGE 2 OF 5 PAGES
1. Name Of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Louis J. Nicastro
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2. Check The Appropriate Box If A Member Of A Group (a) / /
(b) / /
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3. SEC Use Only
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4. Source of Funds
00
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5. Check Box If Disclosure Of Legal Proceedings Is Required
Pursuant To Item 2(d) or 2(e) / /
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6. Citizenship Or Place Of Organization
United States of America
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NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON WITH
7. Sole Voting Power
4,632
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8. Shared Voting Power
6,917,700
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9. Sole Dispositive Power
4,632
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10. Shared Dispositive Power
-0-
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11. Aggregate Amount Beneficially Owned By Each Reporting Person
6,922,322
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12. Check Box If The Aggregate Amount In Row (11) Excludes Certain
Shares / /
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13. Percent Of Class Represented By Amount In Row (11)
25.3%
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14. Type Of Reporting Person
IN
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CUSIP NO. 929297109 13D PAGE 3 OF 5 PAGES
1. Name Of Reporting Person
I.R.S. Identification No. Of Above Person (Entities Only)
Neil D. Nicastro
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2. Check The Appropriate Box If A Member Of A Group (a) / /
(b) / /
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3. SEC Use Only
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4. Source of Funds
Not Applicable
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5. Check Box If Disclosure Of Legal Proceedings Is Required
Pursuant To Item 2(d) or 2(e) / /
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6. Citizenship Or Place Of Organization
United States of America
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NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON WITH
7. Sole Voting Power
1,069,286
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8. Shared Voting Power
6,917,700
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9. Sole Dispositive Power
1,069,286
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10. Shared Dispositive Power
-0-
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11. Aggregate Amount Beneficially Owned By Each Reporting Person
7,986,986
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12. Check Box If The Aggregate Amount In Row (11) Excludes Certain
Shares / /
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13. Percent Of Class Represented By Amount In Row (11)
28.1%
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14. Type Of Reporting Person
IN
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CUSIP NO. 929297109 13D PAGE 4 OF 5 PAGES
This Amendment No. 2 hereby amends the Statement on Schedule 13D, previously
filed by Mr. Louis J. Nicastro and Mr. Neil D. Nicastro with respect to the
common stock, par value $0.50 per share ("Common Stock"), of WMS Industries
Inc., a Delaware corporation (the "Company"). Only the items specifically
included below are amended, and the remainder of the Statement on Schedule 13D
is unchanged.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Mr. Louis J. Nicastro exercised his options to purchase 629,554 shares
of Common Stock on March 19, 1998. The aggregate exercise price for the shares
was $13,437,200, and the funds used for this purpose were borrowed from CIBC
Oppenheimer Corp. On March 19, 1998, Louis J. Nicastro sold such shares over the
New York Stock Exchange pursuant to an S-8 prospectus for an aggregate net sale
price, after commissions, of $18,886,620.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Mr. Louis J. Nicastro may be currently deemed the beneficial owner of
6,922,322 shares, or approximately 25.3% of the issued and outstanding shares
of Common Stock of the Company (based upon 27,370,661 shares of Common Stock
outstanding on March 19, 1998). Mr. Louis J. Nicastro has shared voting power
with respect to 6,917,700 of such shares. Mr. Louis J. Nicastro does not have
sole or shared dispositive power with respect to these 6,917,700 shares. Mr.
Louis J. Nicastro has sole voting and dispositive power with respect to 4,632
of such shares.
Mr. Neil D. Nicastro may be currently deemed the beneficial owner of
7,986,986 shares, or approximately 28.1% of the issued and outstanding shares of
Common Stock of the Company (based upon 28,377,947 shares of Common Stock,
consisting of 27,370,661 shares of Common Stock outstanding on March 19, 1998
and 1,007,286 shares of Common Stock issuable upon the exercise of options
deemed to be outstanding for purposes of this calculation). Mr. Nicastro has
shared voting power with respect to 6,917,700 of such shares. Mr. Nicastro does
not have sole or shared dispositive power with respect to these 6,917,700
shares. Mr. Nicastro has sole voting and dispositive power with respect to
1,069,286 of such shares, 1,007,286 of which may be acquired by Mr. Nicastro
pursuant to stock options within 60 days of the date of this Statement on
Schedule 13D.
Mr. Louis J. Nicastro and, if he is unable to perform his duties under
the Proxy Agreement, Mr. Neil D. Nicastro share voting power with respect to
6,917,700 shares of Common Stock with Mr. Sumner M. Redstone, a citizen of the
United States of America with a business address at 200 Elm Street, Dedham,
Massachusetts 02026, and National Amusements, Inc., a Maryland corporation with
a business address at 200 Elm Street, Dedham, Massachusetts 02026.
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CUSIP NO. 929297109 13D PAGE 5 OF 5 PAGES
Based upon information contained in Amendment No. 20, dated January 7,
1997 to the Statement on Schedule 13D filed by Mr. Sumner M. Redstone with the
Securities and Exchange Commission (the "Redstone 13D"), Mr. Redstone is
currently the beneficial owner, with sole dispositive power and shared voting
power, of 3,433,800 shares, or approximately 12.5% of the issued and outstanding
Common Stock of the Company (based upon 27,370,661 shares of Common Stock
outstanding on March 19, 1998). As a result of his stock ownership in National
Amusements, Inc., Mr. Redstone is deemed the beneficial owner of an additional
3,483,900 issued and outstanding shares of Common Stock of the Company, for a
total of 6,917,700 shares of Common Stock, or approximately 25.3% of the issued
and outstanding shares of Common Stock of the Company (based upon 27,370,661
shares of Common Stock outstanding on March 19, 1998).
Based upon information contained in the Redstone 13D, National
Amusements, Inc. is currently the beneficial owner, with sole dispositive and
shared voting power, of 3,483,900 shares, or approximately 14.4% of the issued
and outstanding Common Stock of the Company (based upon 27,370,661 shares of
Common Stock outstanding on March 19, 1998).
During the past 60 days, the only transaction that either of the
reporting persons participated in with respect to the Company's Common Stock was
the one reported herein.
Signatures
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information in this statement is true, complete and correct.
/s/ Louis J. Nicastro
- ---------------------------------- March 19, 1998
Louis J. Nicastro
/s/ Neil D. Nicastro
----------------------------------- March 19, 1998
Neil D. Nicastro
