UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
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(Rule 13d-101)
Under the Securities Exchange Act of 1934
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(Amendment No. 3)(1)
Laclede Steel Company
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
505606 10 3
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(CUSIP Number)
William R. Lucas, Jr.
Birmingham Steel Corporation
1000 Urban Center Drive, Suite 300
Telephone Number (205) 970-1231
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 24, 1998
--------------------------------
(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:
----------------
(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 the disclosures provided in a prior cover page.
The information required in 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>
Schedule 13D Forms
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CUSIP No. 505606 10 3 13D
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1 NAME OF REPORTING PERSONS
Birmingham Steel Corporation
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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
------- ----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ -------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 1,888,961
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
------ -------------------------------------------
8 SHARED VOTING POWER -0-
------ -------------------------------------------
9 SOLE DISPOSITIVE POWER 1,888,961
------ -------------------------------------------
10 SHARED DISPOSITIVE POWER -0-
------- ---------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,888,961
------- --------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
------- ---------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.42%
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14 TYPE OF REPORTING PERSON
CO
<PAGE>
Schedule 13D Forms
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CUSIP No. 505606 10 3 13D
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1 NAME OF
REPORTING
PERSONS
Midwest
Holdings,
Inc.
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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 ITEM 2(d) or 2(e)
------- ----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ --------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 1,888,961
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
------ --------------------------------------------
8 SHARED VOTING POWER -0-
------ --------------------------------------------
9 SOLE DISPOSITIVE POWER 1,888,961
------ --------------------------------------------
10 SHARED DISPOSITIVE POWER -0-
------- ----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,888,961
------- ----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
------- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.42%
------- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
Schedule 13D Forms
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CUSIP No. 505606 10 3 13D
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1 NAME OF
REPORTING
PERSONS
LCL
Holdings
II, LLC
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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 ITEM 2(d) or 2(e)
------- ----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ --------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 1,888,961
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
------ --------------------------------------------
8 SHARED VOTING POWER -0-
------ --------------------------------------------
9 SOLE DISPOSITIVE POWER 1,888,961
------ --------------------------------------------
10 SHARED DISPOSITIVE POWER -0-
------- ----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,888,961
------- ----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
------- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.42%
------- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
STATEMENT PURSUANT TO RULE 13d-1
OF THE
GENERAL RULES AND REGULATIONS
UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Item 4. Purpose of Transaction.
Item 4 is amended by adding the following to the end of the penultimate
paragraph entitled "Recent Events":
In addition, on September 24, 1998, Midwest Holdings notified LCL
Holdings I, pursuant to Section 2 of the Purchase Agreement, that it
was canceling, terminating and rescinding the Voting Agreement and
relinquishing and releasing the Proxy as to any and all Shares as of
September 24, 1998. The Reporting Persons presently intend not to
retain or seek to reattain control over the Company.
Item 5. Interest in Securities of the Issuer.
Item 5(a) is deleted in its entirety and replaced with the following:
(a) According to the Form 10-Q Quarterly Report filed by the Company
with the Securities and Exchange Commission for the quarter ended June
30, 1998, the Company has, as of July 31, 1998, 4,056,140 shares of
Common Stock issued and outstanding. Accordingly, the 1,888,961 shares
of Common Stock beneficially owned by the Reporting Persons (as more
fully explained in paragraph (b) below) represent approximately 38.42%
of the issued and outstanding shares of Common Stock. For purposes of
calculating this percentage, the securities not outstanding which are
subject to conversion privileges (i.e. 859,836 shares of Common Stock
issuable upon conversion of the Holdings II Preferred Shares) are
deemed to be outstanding. The Reporting Persons understand that, with
the exception of Joseph Alvarado, William R. Lucas, Jr. and Robert A.
Garvey, none of the Covered Persons named on Schedule A hereto is the
beneficial owner of any shares of Common Stock. On July 30, 1997,
Birmingham Steel transferred 100 of the Open Market Shares to each of
Joseph Alvarado and William R. Lucas, Jr. as part of their agreement to
become directors of the Company. Robert A. Garvey is the beneficial
owner of 375 shares of Common Stock. Birmingham Steel disclaims any
beneficial ownership of these shares.
Item 5(b) is deleted in its entirety and replaced with the following:
(b) As a result of the transactions described in Items 3 and 4,
Birmingham Steel, either directly or through its ownership of Midwest
Holdings, has the sole power to vote or to direct the vote of (i) the
1,009,325 Holdings II Common Shares, (ii) the 859,836 Holdings II
Conversion Shares, and (iii) 19,800 of the Open Market Shares, for a
total of 1,888,961 shares of Common Stock (assuming the conversion of
all Holdings II Preferred Shares). Birmingham Steel, either directly or
through its ownership of Midwest Holdings, has the sole investment, or
dispositive, power with respect to (i) the 1,009,325 Holdings II Common
Shares, (ii) the 859,836 Holdings II Conversion Shares, and (iii)
19,800 of the Open Market Shares, for a total of 1,888,961 shares of
Common Stock (assuming the conversion of all Holdings II Preferred
Shares).
On September 24, 1998, Midwest Holdings notified LCL Holdings I that it
is canceling, terminating and rescinding the Voting Agreement and
relinquishing and releasing the Proxy relating to the Holdings I Common
Shares and the Holdings I Conversion Shares as of September 24, 1998.
See "Recent Events" in Item 4.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
Item 6 is amended by adding the following:
On September 24, 1998, Midwest Holdings notified LCL Holdings I that it
is canceling, terminating and rescinding the Voting Agreement and
relinquishing and releasing the Proxy relating to the Holdings I Common
Shares and the Holdings I Conversion Shares as of September 24, 1998.
See "Recent Events" in Item 4.
Item 7. Material to be Filed as Exhibits.
Item 7 is amended by adding the following exhibit:
Exhibit G - Letter from Midwest Holdings, Inc. to LCL Holdings I, LLC
canceling, terminating and rescinding the Voting Agreement and
relinquishing and releasing the Proxy, dated September 24, 1998
<PAGE>
SIGNATURES
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: October 6, 1998.
BIRMINGHAM STEEL CORPORATION
By: William R. Lucas, Jr.
---------------------------
William R. Lucas, Jr.
Its: Executive Vice President -
Administration and General Counsel
MIDWEST HOLDINGS, INC.
By: William R. Lucas, Jr.
--------------------------
William R. Lucas, Jr.
Its: Executive Vice President -
Administration and General Counsel
LCL Holdings II, LLC
By: William R. Lucas, Jr.
--------------------------
William R. Lucas, Jr.
Its: Manager
<PAGE>
INDEX TO EXHIBITS
Exhibit G
Letter from Midwest Holdings, Inc. to LCL Holdings I, LLC canceling,
terminating and rescinding the Voting Agreement and relinquishing and
releasing the Proxy, dated September 24, 1998, 1998
<PAGE>
EXHIBIT G
Cancellation of Proxy and Voting Agreement
July 29, 1998
Via Facsimile and Federal Express
LCL Holdings I
c/o Ivaco, Inc.
Place Mercantile
770 Rue Sherbrooke Ouest
Montreal, Quebec, Canada H3A 1G1
Attn: Guy-Paul Massicotte, Esq.
Re: Proxy and Voting Agreement Relating to Laclede Stock
Gentlemen:
This letter is to inform you that Midwest Holdings, Inc. ("Midwest"),
pursuant to Section 2 (the "Voting Agreement") of the Purchase Agreement dated
as of September 26, 1997 by and among Ivaco, Inc., LCL Holdings I, LLC ("LCL"),
Midwest and Birmingham Steel Corporation, hereby cancels the Voting Agreement
and related proxy (the "Proxy"), which was granted to Midwest by LCL on
September 26, 1997 relating to the 1,009,325 shares of common stock, par value
$.01 per share, of Laclede Steel Company ("Laclede") and the 183,333 shares of
Series A Preferred Stock, no par value, of Laclede (collectively, the "Shares")
owned by LCL, as to any and all of the Shares as of September 24, 1998. In
addition, Midwest hereby informs you of its intention, from and after the date
hereof, to exercise its proxy and voting rights over the Shares on a neutralized
basis in any shareholder vote prior to September 24, 1998 (i.e., in proportion
to the votes otherwise cast on matters presented to the shareholders of
Laclede).
Sincerely,
MIDWEST HOLDINGS, INC.
By: William R. Lucas, Jr.
-------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
