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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 15)
Regency Equities Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
75885510
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(CUSIP Number)
David M. Taylor, Treasurer, First Lincoln Holdings, Inc.
1001 Jefferson Plaza, Suite 200,
Wilmington, DE 19801 (302) 429-4900
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(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
January 7, 1999
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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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), (f) or (g), check the following box [ ].
Note. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b)
for other parties to whom copies are to be sent.
The remainder of this cover page shall be filed 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 1 0f 6
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<TABLE>
<CAPTION>
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CUSIP No. 75885510 Page 2 of 6 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. Or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Lincoln Holdings, Inc. (I.D. # 95-2508211)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Corporation organized under the law of the State of
Delaware
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7 SOLE VOTING POWER
Number of 1,010,000 shares
Shares
Beneficially
Owned By
Each Reporting
Person --------------------------------------------
With 8 SHARED VOTING POWER
71,857,965 shares
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9 SOLE DISPOSITIVE POWER
1,010,000 shares
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10 SHARED DISPOSITIVE POWER
71,857,965 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
72,867,965 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
83.48
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14 TYPE OF REPORTING PERSON*
HC, CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<TABLE>
<CAPTION>
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CUSIP No. 75885510 Page 3 of 6 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. Or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Evergreen Acceptance Corporation (I.D. # 95-3763346)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Corporation organized under the laws of the State of
Delaware
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7 SOLE VOTING POWER
Number of -0- shares
Shares
Beneficially
Owned By
Each Reporting
Person --------------------------------------------
With 8 SHARED VOTING POWER
71,857,965 shares
--------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
--------------------------------------------
10 SHARED DISPOSITIVE POWER
71,857,965 shares
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
71,857,965 shares
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
82.33
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14 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<TABLE>
<S> <C>
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CUSIP No. 75885510 Page 4 of 6 Pages
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</TABLE>
This Amendment No. 15 amends the Statement on Schedule 13D,
Amendment No. 14 (the "Schedule") filed by First Lincoln Holdings Inc., a
Delaware corporation ("First Lincoln") previously known as First Executive
Corporation and Evergreen Acceptance Corporation, a Delaware corporation
("Evergreen") relating to the common stock, par value $.01 per share (the
"Common Stock") of Regency Equities Corp., a Delaware corporation, (the
"Company") as specifically set forth below.
Item 2. Identity And Background.
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First Lincoln is a Delaware corporation whose principal business is
the ownership of real estate and insurance company assets. First Lincoln's
principal office is located at 1001 Jefferson Plaza, Suite 200, Wilmington,
Delaware 19801. In the past five years, First Lincoln has not been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors). In
the past five years, First Lincoln was not a party to a civil proceeding or
judicial or administrative body as a result of which it was subject to a
judgment, decree or final order in joining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
Evergreen is a Delaware corporation which is a holding company.
Evergreen's principal place of business and principal office are located at 1001
Jefferson Plaza, Suite 200, Wilmington, Delaware 19801. In the past five years,
Evergreen has not been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors). In the past five years, Evergreen was not a
party to a civil proceeding or judicial or administrative body as a result of
which it was subject to a judgment, decree or final order in joining future
violations of, or prohibiting or mandating activities subject to, Federal or
State securities laws or finding any violation with respect to such laws.
FIRST LINCOLN
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<TABLE>
<CAPTION>
Name Address Present Occupation
- ---- ------- ------------------
<S> <C> <C>
Martin Oliner 1001 Jefferson Plaza Director, Chairman of the
Suite 1200 Board, and Chief Executive
Wilmington, Delaware 19801 Officer of First Lincoln;
Attorney-at-Law
David M. Taylor 1001 Jefferson Plaza Treasurer and Assistant
Suite 200 Secretary of First Lincoln
Wilmington, Delaware 19801
</TABLE>
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<TABLE>
<CAPTION>
<S> <C>
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CUSIP No. 75885510 Page 5 of 6 Pages
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</TABLE>
EVERGREEN
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<TABLE>
<CAPTION>
Name Address Present Occupation
- ---- ------- ------------------
<S> <C> <C>
Martin Oliner 1001 Jefferson Plaza Director, Chairman of the
Suite 1200 Board, and Chief Executive
Wilmington, Delaware 19801 Officer of First Lincoln;
Attorney-at-Law
David M. Taylor 1001 Jefferson Plaza Treasurer and Assistant
Suite 200 Secretary of First Lincoln
Wilmington, Delaware 19801
</TABLE>
Item 3. Source And Amount Of Funds Or Other Consideration.
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The source of funds for the potential purchase of any additional
shares of Common Stock as described herein is anticipated to be the working
capital of First Lincoln and/or Evergreen. Since no specific transaction has yet
been proposed, the potential total funds in any potential transaction is not yet
known.
Item 4. Purpose Of The Transaction.
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On January 7, 1999, First Lincoln and Evergreen determined to
explore a possible cash merger transaction which, if proposed and consummated,
would result in the acquisition by First Lincoln and/or Evergreen of the shares
of Common Stock that they do not already own. To date, no specific transaction
has been proposed. However, it is the understanding of First Lincoln and
Evergreen that the Company has retained an independent financial advisor to
review the Company and its value, to be in a position to render financial advice
to the Company and its directors if a proposal is made. First Lincoln and
Evergreen presently anticipate that they will propose a specific merger
transaction once the Company's financial advisor is in a position to assist the
Company in responding to such a proposal. However, there is no assurance that
any proposal will be made, or that any proposal that is made will result in the
execution of a merger agreement, consummation of a transaction or the purchase
by First Lincoln and/or Evergreen of any additional shares of Common Stock.
First Lincoln and/or Evergreen reserve their right not to make any
proposal of the type described in this Section. First Lincoln and/or Evergreen
also reserve their right to acquire additional shares of Common Stock, either on
the open market, in privately negotiated transactions, or through a tender
offer, merger or other extraordinary transaction. Except as specifically set
forth herein, First Lincoln and/or Evergreen have no present plans to engage in
any of the potential transactions described in this Section.
Item 5. Interest In Securities Of The Issuer.
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The aggregate number of shares of Common Stock beneficially owned by
First Lincoln is 72,867,965 shares, which represents 83.48% of the Common Stock.
Of this aggregate number, First Lincoln is the record owner of 1,010,000 shares
of Common Stock and Evergreen, a wholly-owned subsidiary of First Lincoln, is
the record owner of 71,857,965 shares of Common Stock.
Neither Evergreen nor First Lincoln has made any purchases or sales
of Common Stock within the last 60 days.
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CUSIP No. 75885510 Page 6 of 6 Pages
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After reasonably 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.
Dated: January 11, 1999 FIRST LINCOLN HOLDINGS, INC., a
Delaware corporation
By s/ DAVID M. TAYLOR,
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David M. Taylor, Treasurer
After reasonably 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.
Dated: January 11, 1999 EVERGREEN ACCEPTANCE
CORPORATION, a Delaware corporation
By s/ DAVID M. TAYLOR,
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David M. Taylor, Treasurer
