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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NUMBER 2
TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
AUDIO COMMUNICATIONS NETWORK, INC.
(NAME OF ISSUER)
COMMON STOCK, PAR VALUE $.25 PER SHARE
(TITLE OF CLASS OF SECURITIES)
0506E 10 6
(CUSIP NUMBER)
A.J. SCHELL
AUDIO COMMUNICATIONS NETWORK, INC.
100 LEGION PLACE
SUITE 1515
ORLANDO, FLORIDA 32801
(407) 649-8877
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS)
MAY 30, 1997
(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 [ ].
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CUSIP No. 0506E 10 6
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
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2) Check the Appropriate Box if a Member of a Group (see Instructions)
(a)
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(b)
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3) SEC USE Only
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4) Source of Funds (See Instructions)
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5) Check 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
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Number of (7) Sole Voting Power..........................
Shares Bene- .....................30,000................................
ficially ----------------------------------------------------------------
Owned by (8) Shared Voting Power........................
Each Report- 0
ing Person ----------------------------------------------------------------
With (9) Sole Dispositive Power.....................
30,000
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(10) Shared Dispositive Power..................
0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
...................................... 30,000 ..........................
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions).......................
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13) Percent of Class Represented by Amount in Row (11)
0.7%
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14) Type of Reporting Person (See Instructions)
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Item 1. Security and Subject Company
The title of the class of securities to which this statement relates is
the Common Stock, par value $.25 per share, of Audio Communications Network,
Inc. ("Audio Common Stock").
The name of the issuer of the securities is Audio Communications Network,
Inc. (the "Company"). The address of the principal executive offices of the
issuer of the securities is 1000 Legion Place, Suite 1515, Orlando, Florida
32801.
Item 2. Identity and Background
1. Name: A.J. Schell
2. Business Address: 1000 Legion Place, Suite 1515, Orlando, Florida 32801
3. Present Principal Occupation and Present Business Address of Corporation at
which Employment is Conducted: Chairman of the Board of Directors of Audio
Communications Network, Inc., 1000 Legion Place, Suite 1515, Orlando, Florida
32801
4. Criminal Proceedings during the last five years: None
5. Security Proceedings during the last five years: None
6. Citizenship: United States of America
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable.
Item 4. Purpose of Transaction.
Not applicable
Item 5. Interest in Securities of the Issuer.
(a) 30,000 shares of Common Stock, which represent 0.7% of the 4,433,191
shares of common stock outstanding as of May 30, 1997. All of such 30,000
shares are in respect of options which have not yet been exercised but
which are currently exercisable.
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(b) Mr. Schell has the sole power to vote and dispose of 30,000 shares of
Common Stock, all of which shares underlie options which have not yet been
exercised but which are currently exercisable.
(c) On November 19, 1996, Mr. Schell entered into a Stock Purchase
Agreement with Suncom Communications, L.L.C. ("Suncom") to sell 597,986
shares of Company Common Stock for cash consideration of $6.27 per share.
The transactions contemplated by the Stock Purchase Agreement were
consummated on May 30, 1997.
(d) Not Applicable
(e) On May 30, 1997, Mr. Schell ceased to be the beneficial owner of more
than five percent of the Company's common stock as a result of the
consummation of the transactions contemplated by the Stock Purchase
Agreement described in (c) above.
Item 6. Contracts, Arrangements, Understandings, or Relationships With Respect
to Securities of the Issuer.
Mr. Schell has granted an Irrevocable Proxy to Suncom to vote his shares
of Audio Common Stock (i) for a bylaw amendment which would increase the size
of the Company's Board of Directors from eight to nine and (ii) in favor of
Suncom's nominees to the Company's Board of Directors.
Item 7. Material to be Filed as Exhibits.
99.1: Stock Purchase Agreement dated as of November 19, 1996 between
Suncom Communications, L.L.C. and A.J. Schell (incorporated by reference from
Schedule 13D filed on December 31, 1996).
99.2 Irrevocable Proxy dated as of May 30, 1997.
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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.
June 6, 1997
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Date
/s/ A.J. Schell
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Signature
A.J. Schell
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Name
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EXHIBIT 99.2
IRREVOCABLE PROXY
AUDIO COMMUNICATIONS NETWORK, INC.
THE UNDERSIGNED HEREBY IRREVOCABLY APPOINTS MITCHELL KLEINHANDLER AND DAVID
UNGER, AS PROXIES, EACH WITH THE POWER TO APPOINT HIS SUBSTITUTE; AND HEREBY
AUTHORIZES THEM, OR ANY OF THEM, TO REPRESENT AND VOTE ALL THE SHARES OF COMMON
STOCK OF AUDIO COMMUNICATIONS NETWORK, INC., A FLORIDA CORPORATION, HELD OF
RECORD BY THE UNDERSIGNED AT THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD
DURING 1997, AT A SPECIAL MEETING OF STOCKHOLDERS TO BE HELD FOR THE PURPOSE OF
CONSIDERING THE MATTER SET FORTH IN ITEM 2 BELOW, OR ANY ADJOURNMENT THEREOF;
THIS PROXY SHALL APPLY TO ALL SUCH SHARES HELD OF RECORD BY THE UNDERSIGNED AS
OF THE DATE HEREOF AND TO ALL SUCH SHARES HELD OF RECORD BY THE UNDERSIGNED AS
OF THE RECORD DATE(S) FOR SUCH MEETING(S).
1. On the ELECTION OF DIRECTORS X FOR all Corporation nominees
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WITHOUT AUTHORITY to vote for all
----- Corporation nominees
2. To approve the amendment to the By-Laws of Audio Communications Network,
Inc. to increase the size of the board of directors to nine.
X FOR AGAINST ABSTAIN
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THE SHARES REPRESENTED BY THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS
SPECIFIED HEREIN BY THE UNDERSIGNED STOCKHOLDER(S). THIS PROXY IS COUPLED WITH
AN INTEREST AND IS IRREVOCABLE.
A.J. Schell
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/s/ A.J. Schell
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Signature(s) of Stockholder(s)
Dated May 30, 1997
