SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)(1)
KINARK CORPORATION
- -------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.10 PAR VALUE
- -------------------------------------------------------------------------------
(Title of class of securities)
494474109
- -------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQUIRE
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
- -------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
DECEMBER 14, 1995
- -------------------------------------------------------------------------------
(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 o. (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.
(Continued on following pages)
(Page 1 of 11 Pages)
Exhibit Index Appears on Page 10
- --------
(1) 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 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 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 506,100
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------
8 SHARED VOTING POWER
-0-
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
506,100
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
506,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS SERVICES, LTD.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 30,000(2)
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------
8 SHARED VOTING POWER
-0-
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
30,000(2)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
30,000(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(2) Represents Shares in a securities portfolio owned by a foreign
investment company that is managed on a discretionary basis by Steel Partners
Services, Ltd.
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
WARREN LICHTENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 536,150(3)
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
536,150(3)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
536,150(3)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(3) Includes 506,100 Shares owned by Steel Partners II, L.P. and 30,000
Shares managed by Steel Partners Services, Ltd., entities controlled by Warren
G. Lichtenstein and Lawrence Butler.
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
LAWRENCE BUTLER
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 538,100(4)
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
538,100(4)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
538,100(4)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(4) Includes 506,100 Shares owned by Steel Partners II, L.P. and 30,000
Shares managed by Steel Partners Services, Ltd., entities controlled by Warren
G. Lichtenstein and Lawrence Butler.
<PAGE>
This constitutes Amendment No. 6 ("Amendment No. 6") to Schedule 13D
filed by the undersigned on March 25, 1995 (the "Schedule 13D"). Except as
specifically amended by this Amendment No. 6, the Schedule 13D, as amended,
remains in full force and effect. Defined terms shall have the meaning specified
in the Schedule 13D, except as otherwise provided herein.
Item 3 is amended to read in its entirety as follows:
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate purchase price of the 506,100 Shares of Common Stock
owned by Steel Partners II is $1,703,154. The Shares of Common Stock owned by
Steel Partners II were acquired with partnership funds.
The aggregate purchase price for the 50 and 2,000 Shares purchased by
Mr. Lichtenstein and Mr. Butler is $250.00 and $11,875.00, respectively, and
came from their personal funds.
The aggregate purchase price of the 30,000 Shares of Common Stock
beneficially owned by Services is $89,253. Such Shares were acquired with funds
it manages for a foreign investment company (the "Fund"). Pursuant to an
agreement (the "Management Agreement") with the Fund, Services has been
appointed to manage, on a discretionary basis, certain of the Fund's assets,
which are maintained in a brokerage account in the Fund's name. The Management
Agreement may be terminated by either party at any time. Therefore, pursuant to
Rule 13d-3(d)(1)(C), the Fund may also be deemed the beneficial owner of the
Shares reported to be beneficially owned by Services.
Item 5(a) is amended in its entirety to read as follows:
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of Shares of Common Stock reported owned
by each person named herein is based upon 3,747,498 Shares outstanding, which is
the total number of Shares of Common Stock outstanding as reported in the
Company's Quarterly Report on Form 10-Q from the quarter ended September 30,
1995.
As of the close of business on December 14, 1995:
Steel Partners II beneficially owns 506,100 Shares of Common Stock,
constituting approximately 13.5% of the Shares outstanding and Services
beneficially owns 30,000 Shares, constituting approximately .8% of the Shares
outstanding. Mr. Lichtenstein and Mr. Butler beneficially own 536,150 and
538,100 Shares, respectively, representing approximately 14.3% and 14.4%,
respectively, of the Shares outstanding. Mr. Lichtenstein and Mr.
<PAGE>
Butler may each be deemed to beneficially own all shares owned by Steel Partners
II and Services by virtue of their authority to vote and dispose of such Shares
and each of Mr. Lichtenstein and Mr. Butler has sole voting and dispositive
power with respect to the 50 and 2,000 Shares, respectively, owned by each
individual.
Item 7. Material to be Filed as Exhibits.
1. Joint Filing Agreement (previously filed).
2. Letter sent by the Reporting Persons to the Issuer on
September 13, 1995 with attached Term Sheet for the
proposed debt and equity financing referred to in
Item 4 (previously filed).
3. Letter sent by counsel to the Reporting Persons to
the Issuer on October 2, 1995 (previously filed).
4. Letter sent by the Issuer to the Reporting Persons on
October 17, 1995 (previously filed).
5. Response sent by the Reporting Persons to the Issuer
on October 19, 1995 (previously filed).
6. Letter sent by the Issuer to the Reporting Persons on
December 14, 1995.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 15, 1995 STEEL PARTNERS II, L.P.
By: Steel Partners Associates, L.P.
General Partner
By: Steel Partners, Ltd. General
Partner
By: /s/ Warren G. Lichtenstein
---------------------------
Warren G. Lichtenstein,
Chief Executive Officer
STEEL PARTNERS SERVICES, LTD.
By: /s/ Warren G. Lichtenstein
---------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
---------------------------
WARREN G. LICHTENSTEIN
/s/ Lawrence Butler
---------------------------
LAWRENCE BUTLER
<PAGE>
SCHEDULE A
Transactions in the Shares Within the Past 60 Days
Shares of Common
Stock Date of
Purchased/(Sold) Price Per Share Purchase/Sale
- ---------------- --------------- -------------
STEEL PARTNERS II, L.P.
1,000 $2.7800 12/1/95
1,500 $2.7900 12/5/95
STEEL PARTNERS SERVICES, LTD.
1,000 $2.7800 12/1/95
1,500 $2.7900 12/5/95
WARREN LICHTENSTEIN
None.
LAWRENCE BUTLER
None.
<PAGE>
EXHIBIT INDEX
Exhibit Page
- ------- ----
1. Joint Filing Agreement previously filed
2. Letter sent by the Reporting Persons previously filed
to the Issuer on September 13, 1995
with attached Term Sheet for the
proposed debt and equity financing
3. Letter sent by Counsel to the previously filed
Reporting Persons to the Issuer on
October 2, 1995
4. Letter sent by the Issuer to the previously filed
Reporting Persons on October 17,
1995.
5. Response sent by the Reporting previously filed
Persons to the Issuer on October 19,
1995.
6. Letter sent by the Issuer to the 11
Reporting Persons on December 14,
1995.
EXHIBIT 6
STEEL PARTNERS II, L.P.
750 Lexington Avenue
27th Floor
New York, New York 10022
December 14, 1995
Mr. Paul R. Chastain
President
Kinark Corporation
7060 South Yale Avenue
Tulsa, Oklahoma 74101
Dear Mr. Chastain:
In our conversation of December 12, 1995 you advised me that
Kinark has decided to proceed with a proposed rights offering and not to pursue
other alternatives available to it. While we were not advised as to the terms of
the proposed rights offering, our conversation disclosed that certain concerns
with regard to the structure identified by Steel Partners II, L.P. will not be
addressed. Accordingly Steel Partners II, L.P. reserves any rights it may have
with regard to pursuing various actions set forth in its Schedule 13D filings.
STEEL PARTNERS II, L.P.,
By: STEEL PARTNERS, LTD., the
general partner of STEEL
PARTNERS ASSOCIATES, L.P.,
general partner
By: /s/ Warren Lichtenstein
-----------------------
Warren Lichtenstein,
Chairman of the Board
