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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
MERIDIAN POINT REALTY TRUST VIII CO.
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(Name of Issuer)
COMMON SHARES
PREFERRED SHARES
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(Title of Classes of Securities)
589954-10-6
589954-20-5
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(CUSIP Numbers)
N. Keith McKey
300 One Jackson Place, 188 East Capitol Street
Jackson, Mississippi 39201; (601) 354-3555
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 12, 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 [_].
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).
This Document contains 6 Pages.
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CUSIP NO. 589954-20-5 13D/A PAGE 2 OF 6 PAGES
- ------------------------ -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EastGroup Properties, Inc.
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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*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) or 2(f) [_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,043,201 Preferred Shares
- --------------------------------------------------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES* [_]
- --------------------------------------------------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
90.0%
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10 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT
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CUSIP NO. 589954-10-6 13D/A PAGE 3 OF 6 PAGES
- ------------------------ -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EastGroup Properties, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[_]
(b)[_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) or 2(f) [_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
- --------------------------------------------------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,511,203 Common Shares
- --------------------------------------------------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES* [_]
- --------------------------------------------------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
90.0%
- --------------------------------------------------------------------------------
10 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
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EastGroup-Meridian, Inc., (the "Purchaser"), a Missouri corporation and a
wholly-owned subsidiary of EastGroup Properties, Inc.("EastGroup"), a Maryland
corporation, hereby amend their Statement on Schedule 13D with respect to the
common shares, par value $0.001 per share ("Common Shares"), and preferred
shares, par value $0.001 per share ("Preferred Shares"), of Meridian Point
Realty Trust VIII Co. (the "Company"), a Missouri corporation. Unless otherwise
defined herein, capitalized terms shall have the meanings set forth in the
previously filed Schedule 13D and amendments thereto.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is amended to add the following:
The Purchaser will use approximately $42.5 million to purchase the
1,440,740 Preferred Shares and the 3,302,510 Common Shares pursuant to the
exercise of the options granted under Article VIII of the Merger Agreement (the
"Option Shares"). The Purchaser will obtain such funds from EastGroup.
EastGroup will obtain approximately $13.5 million of the funds necessary to
purchase the Option Shares from its credit facilities with Deposit Guaranty
National Bank ("DGNB"), Jackson, Mississippi and approximately $29.0 million
from a recently opened margin account with A.G. Edwards & Sons, Inc. ("AGE"),
St. Louis, Missouri. The credit facilities with DGNB bear interest at a rate
of LIBOR plus 1.40% and the account with AGE bears interest at a rate of not
more than 7.75%. The funds borrowed to purchase the Option Shares will be
returned to EastGroup immediately after the effectiveness of the Merger and
EastGroup will repay the borrowings immediately.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is amended to add the following:
On May 12, 1998, Purchaser delivered to the Company written notice stating
that Purchaser will purchase 1,440,740 Preferred Shares for $10.00 per share and
3,302,510 Common Shares for $8.50 per share pursuant to the exercise of its
options under Article VIII of the Merger Agreement. The closing of such
purchase will take place on June 1, 1998. Immediately following the closing of
the purchase of such Shares, Purchaser and the Company will complete the Merger.
Immediately after the effectiveness of the Merger, the Preferred Shares and
Common Shares will be delisted from the American Stock Exchange and will be
removed from registration under the Exchange Act. At the Effective Time of the
Merger, (i) each Preferred Share issued and outstanding (other than Dissenting
Shares representing Preferred Shares and Preferred Shares held by the Company,
any subsidiary of the Company, EastGroup or the Purchaser which are to be
canceled pursuant to the Merger Agreement) will be converted into the right to
receive in cash, without interest, $10.00 per share, and (ii) each Common Share
issued and outstanding (other than Dissenting Shares representing Common Shares
and Common Shares held by the Company, any subsidiary of
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the Company, EastGroup or the Purchaser which are to be canceled pursuant to the
Merger Agreement) will be converted into the right to receive in cash, without
interest, $8.50 per share.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is amended to add the following:
Upon exercise of the options granted under Article VIII of the Merger
Agreement, Purchaser will own 6,043,201 Preferred Shares (90% of the outstanding
Preferred Shares) and 4,511,203 Common Shares (90% of the outstanding Common
Shares).
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SIGNATURE
After due 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: May 13, 1998 EASTGROUP PROPERTIES, INC.
By: /s/ N. Keith McKey
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Name: N. Keith McKey
Title: Executive Vice President
EASTGROUP-MERIDIAN, INC.
By: /s/ N. Keith McKey
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Name: N. Keith McKey
Title: Vice President
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