SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)<F1>
Kinark Corporation
(Name of Issuer)
Common Stock, $.10 par value
(Title of class of securities)
494474-10-9
(CUSIP number)
Michael T. Crimmins
15 Doremus Drive, Toweco, N.J. 07082; (201) 334-5910
(Name, address and telephone number of person
authorized to receive notices and communications)
November 8, 1996
(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.
(Continued on following pages)
(Page 1 of 5 Pages)
[FN]
<F1> 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).
[/FN]
<PAGE>
SCHEDULE 13D
CUSIP NO. 494478-10-9 13D PAGE 2 OF 5 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Michael T. Crimmins
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 OF ORGANIZATION
United States
NUMBER OF 7 SOLE VOTING POWER
SHARES 766,600
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 766,600
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
766,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.3%
14 TYPE OF REPORTING PERSON*
IN<PAGE>
Page 3 of 5 Pages
KINARK CORPORATION Schedule 13D
(CUSIP NO. 494474-10-9) Michael T. Crimmins
By this Amendment No. 1 to Schedule 13D, Michael T. Crimmins hereby amends
the statement on Schedule 13D previously filed on his behalf (the "Schedule
13D"), relating to the common stock, par value $.10 per share (the "Common
Stock"), of Kinark Corporation, a Delaware corporation. Except as specifically
amended by this Amendment No. 1, Mr. Crimmins Schedule 13D remains in full
force and effect.
Item 3 is hereby amended to add the following paragraphs after the first
paragraph in Item 3 as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Mr. Crimmins used personal funds to purchase 373,300 shares of Common
Stock at a subscription price of $3.00 per share for an aggregate price of
$1,119,900, pursuant to the exercise of subscription rights offered by the
Company. The Company offered to its stockholders of record on September 27,
1996, one nontransferable right for each one share of Common Stock held as of
such date, with each right entitling the holder to purchase one share of Common
Stock at a subscription price of $3.00 per share (the "Rights Offering"). The
Rights Offering, which closed on November 8, 1996, was conducted pursuant to a
Prospectus dated October 4, 1996, filed as part of the Company's Registration
Statement on Form S-3 declared effective by the Securities and Exchange
Commission on October 4, 1996 (File No. 333-4937).
Mr. Crimmins used personal funds to purchase 20,000 shares of Common Stock
at a purchase price of $3.00 per share for an aggregate price of $60,000, in a
private transaction on November 30, 1996.
Item 4 is hereby amended and restated in its entirety to read as follows:
ITEM 4. PURPOSE OF TRANSACTION
Mr. Crimmins acquired the shares of Common Stock for personal investment
purposes. Mr. Crimmins may purchase additional securities of the Issuer in the
future. Mr. Crimmins does not presently have any plans or proposals which
relate to or would result in any of the transactions described in paragraphs
(a) through (j) of Item 4 of Schedule 13D.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Prior to the purchase reflected in this filing, Mr. Crimmins owned
directly 373,300 shares of the Issuer's Common Stock. Mr. Crimmins currently
beneficially owns 766,600 shares of the Issuer's Common Stock, representing
11.3 percent of the currently outstanding shares of Common Stock. The
aggregate percentage of shares of Common Stock reported owned by Mr. Crimmins
is based on 6,759,386 shares, which is based on (i) 6,066,536 shares of Common
Stock reported as outstanding in the Company's Quarterly Report on Form 10Q for
the quarter ended September 30, 1996, and (ii) 692,850 shares of Common Stock
issued in the Issuer's Rights Offering.
(b) Mr. Crimmins has sole voting power and sole dispositive power with
respect to all 766,600 shares of Common Stock.
Page 4 of 5 Pages
KINARK CORPORATION Schedule 13D
(CUSIP NO. 494474-10-9) Michael T. Crimmins
(c) In transactions effected since Mr. Crimmins most recent filing on
Schedule 13D, Mr. Crimmins used personal funds to purchase 5,000 shares of
Common Stock on April 2, 1996, and 5,000 shares of Common Stock on April 3,
1996, at a purchase price of $2.50 per share for an aggregate price of $25,000.
The shares purchased in these transactions were acquired in open market
transactions.
(d) Not applicable.
(e) Not applicable.<PAGE>
Page 5 of 5 Pages
Schedule 13D
Michael T. Crimmins
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.
December 19, 1996
(Date)
/s/ Michael T. Crimmins
(Signature)
Michael T. Crimmins
(Name)
