<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO 13d-1(a) AND AMENDMENTS FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 1)
Holly Corporation
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(Name of Issuer)
Common Stock, Par Value $.01
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(Title of Class of Securities)
435758305
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(CUSIP Number)
Lamar Norsworthy
100 Crescent Court
Suite 1600
Dallas, Texas 75201
(214) 871-3555
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 1, 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 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 [ ].
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.
(Continued on following pages)
(Page 1 of 8 pages)
- ------------
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 purposes 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).
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SCHEDULE 13D
CUSIP NO. 435758305 PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lamar Norsworthy
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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 ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
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7 SOLE VOTING POWER
NUMBER OF
SHARES 328,859
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING See 12 below.
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
328,859
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See 12 below.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
328,859
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12 CHECK BOX IF THAT AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
X Does not include 285,856 shares beneficially owned by the reporting
person listed at page 4 of this Schedule 13D, with respect to certain
general and limited partner interests with respect to which this reporting
person is trustee or a co-trustee.
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14 TYPE OF REPORTING PERSON*
IN
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<PAGE> 3
SCHEDULE 13D
CUSIP NO. 435758305 PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Nona Barrett
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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 ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
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7 SOLE VOTING POWER
NUMBER OF
SHARES 328,132
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING None.
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
328,132
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
328,132
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12 CHECK BOX IF THAT AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE> 4
SCHEDULE 13D
CUSIP NO. 435758305 PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NBN Capital Limited Partnership, a Texas limited partnership
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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 ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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7 SOLE VOTING POWER
NUMBER OF
SHARES 285,856
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING None.
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
285,856
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
285,856
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12 CHECK BOX IF THAT AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.5%
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14 TYPE OF REPORTING PERSON
PN
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<PAGE> 5
SCHEDULE 13D
CUSIP NO. 435758305 PAGE 5 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Brown Brothers Harriman Trust Company of Texas, as trustee of the following
trusts: Betty Simmons East Texas Trust, Margaret Simmons East Texas Trust,
Suzanne Simmons East Texas Trust, Betty Simmons Nueces County Trust,
Margaret Simmons Nueces County Trust, Suzanne Simmons Nueces County Trust
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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 ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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7 SOLE VOTING POWER
NUMBER OF
SHARES 1,511,136*
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING None.
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
1,511,136*
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,511,136*
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12 CHECK BOX IF THAT AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.3%*
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14 TYPE OF REPORTING PERSON
OO
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*Betty Simmons East Texas 263,242 3.2%
Trust
Margaret Simmons East Texas 263,242 3.2%
Trust
Suzanne Simmons East Texas 263,242 3.2%
Trust
Betty Simmons Nueces County 240,470 2.9%
Trust
Margaret Simmons Nueces 240,470 2.9%
County Trust
Suzanne Simmons Nueces 240,470 2.9%
County Trust
<PAGE> 6
PAGE 6 OF 8 PAGES
ITEM 1. SECURITY AND ISSUER
The class of securities to which this statement relates is the common
stock, $.01 par value (the "Common Stock") of Holly Corporation, a
Delaware corporation (the "Issuer"), the principal executive offices
of which are located at 100 Crescent Court, Suite 1600, Dallas, Texas
75201.
ITEM 2. IDENTITY AND BACKGROUND
Lamar Norsworthy is a resident of the State of Texas. His business
address is 100 Crescent Court, Suite 1600, Dallas, Texas 75201. Mr.
Norsworthy is Chairman of the Board and Chief Executive Officer of
Holly Corporation. Mr. Norsworthy is a U.S. citizen.
Nona Barrett is a resident of the State of Texas. Ms. Barrett is
principally occupied as an investor. Her address is 5745 Chatham Hill
Rd., Dallas, Texas 75225. Ms. Barrett is a U.S. citizen.
NBN Capital Limited Partnership is a limited partnership organized
under the laws of the State of Texas. NBN Assets Management Company,
L.L.C., a limited liability company, is its general partner and its
principal business address is 2001 Ross Avenue, Suite 1150, Dallas,
Texas 75201-2996.
Brown Brothers Harriman Trust Company of Texas is a trust company
chartered by the State of Texas, and is reporting as trustee for the
following trusts: Betty Simmons East Texas Trust, Margaret Simmons
East Texas Trust, Suzanne Simmons East Texas Trust, Betty Simmons
Nueces County Trust, Margaret Simmons Nueces County Trust, Suzanne
Simmons Nueces County Trust. Its principal business address is 2001
Ross Avenue, Suite 1150, Dallas, Texas 75201 and is a wholly owned
subsidiary of Brown Brothers Harriman Trust Company, a trust company
chartered by the State of New York, which is a subsidiary of Brown
Brothers Harriman & Co., a general partnership organized under the
laws of the State of New York and licensed as a bank, located at 59
Wall Street, New York, N.Y. 10005.
In the last five years, no person listed in this Item 2 has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors), or has been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction, resulting
in such person being subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Not Applicable.
<PAGE> 7
PAGE 7 OF 8 PAGES
ITEM 4. PURPOSE OF TRANSACTION
On September 1, 1998, the Agreement and Plan of Merger (the "Merger
Agreement") between the Issuer and Giant Industries, Inc. ("Giant"),
dated April 14, 1998, was terminated. The termination of the Merger
Agreement caused the automatic termination of the related Major
Stockholders' Agreement (the "Stockholders' Agreement), dated April
14, 1998, to which the reporting persons are parties. A copy of the
Termination of Merger is attached as Exhibit 99.2, and incorporated
herein by reference in its entirety. A copy of the Stockholders'
Agreement was previously filed as an Exhibit 99.1 to the Schedule 13D
filed April 22, 1998, and incorporated herein by reference in its
entirety.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
<TABLE>
<CAPTION>
Aggregate Sole Shared Sole Shared
# of Shares Voting Voting Dispositive Dispositive
Reporting Persons Power Power Power Power
<S> <C> <C> <C> <C> <C>
Lamar Norsworthy 328,859 328,859 0 328,859 0
Nona Barrett 328,132 328,132 0 328,132 0
NBN Capital Limited 285,856 285,856 0 285,856 0
Partnership
Brown Brothers Harriman 1,511,136* 1,511,136* 0 1,511,136* 0
Trust Company*
</TABLE>
The filing of this statement shall not be construed as an admission
by any such person of beneficial ownership of said shares.
<TABLE>
<S> <C> <C>
*Betty Simmons East Texas 263,242 3.2%
Trust
Margaret Simmons East Texas 263,242 3.2%
Trust
Suzanne Simmons East Texas 263,242 3.2%
Trust
Betty Simmons Nueces County 240,470 2.9%
Trust
Margaret Simmons Nueces 240,470 2.9%
County Trust
Suzanne Simmons Nueces 240,470 2.9%
County Trust
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
The reporting persons are parties to the Stockholders' Agreement,
which was terminated as of September 1, 1998. See Item 4.
<PAGE> 8
PAGE 8 OF 8 PAGES
ITEM 7. MATERIAL PREVIOUSLY FILED AS EXHIBITS
<TABLE>
<CAPTION>
Exhibit
Number Description
------ -----------
<S> <C>
99.1 Major Stockholders' Agreement, dated April 14, 1998, by and
among the Issuer, Giant, the reporting persons and others named
therein.
MATERIAL TO BE FILED AS EXHIBITS
99.2 Termination of Merger, dated September 1, 1998, by and between the
Issuer and Giant.
</TABLE>
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.
Dated as of September 3, 1998.
/s/ LAMAR NORSWORTHY
--------------------------------------------
LAMAR NORSWORTHY
/s/ NONA BARRETT
--------------------------------------------
NONA BARRETT
NBN CAPITAL LIMITED PARTNERSHIP
By: NBN Assets Management Company, L.L.C.
By: /s/ ROBERT G. MCKENZIE
-------------------------------------
Robert G. McKenzie, Manager
BETTY SIMMONS EAST TEXAS TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
-------------------------------------
Robert G. McKenzie, Executive Vice
President
<PAGE> 9
MARGARET SIMMONS EAST TEXAS TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
--------------------------------------
Robert G. McKenzie, Executive Vice
President
SUZANNE SIMMONS EAST TEXAS TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
--------------------------------------
Robert G. McKenzie, Executive Vice
President
BETTY SIMMONS NUECES COUNTY TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
--------------------------------------
Robert G. McKenzie, Executive Vice
President
MARGARET SIMMONS NUECES COUNTY TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
--------------------------------------
Robert G. McKenzie, Executive Vice
President
<PAGE> 10
SUZANNE SIMMONS NUECES COUNTY TRUST
By: Brown Brothers Harriman Trust Company of
Texas, Trustee
By: /s/ ROBERT G. MCKENZIE
-------------------------------------
Robert G. McKenzie, Executive Vice
President
<PAGE> 1
EXHIBIT 99.2
TERMINATION OF MERGER
This Agreement dated as of September 2, 1998, is by and between HOLLY
CORPORATION, a Delaware corporation ("Holly"), and GIANT INDUSTRIES, INC., a
Delaware corporation ("Giant").
RECITALS
A. Giant and Holly have entered into an Agreement and Plan of Merger
dated as of April 14, 1998 ("Merger Agreement").
B. The parties have determined that is in the best interests of the
corporations and their stockholders to terminate the Merger Agreement and the
proposed merger.
NOW, THEREFORE, for good and valuable consideration, the parties agree
as follow:
AGREEMENTS
1. Pursuant to Section 7.01(a) of the Merger Agreement, Giant and
Holly hereby terminate the Merger Agreement by mutual written consent.
2. Each of Holly and Giant will hold, and will cause its respective
officers, employees, accountants, counsel, financial advisors, and other
representatives and affiliates to hold, any non-public information in accordance
with the terms of the Confidentiality Agreement, dated April 6, 1998, between
Giant and Holly.
IN WITNESS WHEREOF, Giant and Holly have caused this Agreement to be
executed as of the date first above written.
HOLLY CORPORATION
/s/ LAMAR NORSWORTHY
-----------------------------------
Its: Chairman of the Board and
Chief Executive Officer
GIANT INDUSTRIES, INC.
/s/ JAMES E. ACRIDGE
------------------------------------
Its: Chairman, President and CEO
