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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
AMREP Corporation
------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
032159105
----------------
(CUSIP Number)
Nick G. Karabots
P. O. Box 736
Fort Washington, PA 19034
(215) 643-5800
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 12, 1995
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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.)
* 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).
Page 1 of 8 pages
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CUSIP No. 032159105 Page 2 of 8 pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Nick G. Karabots ###-##-####
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
AF, PF, OO, BK
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
2,682,593
NUMBER OF -----------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
WITH
2,682,593
-----------------------------------------
10. SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,682,593
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.3%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 032159105 Page 3 of 8 pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Glendi Publications, Inc. 59-2235938
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
AF, WC, OO, BK
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
1,385,680
NUMBER OF -----------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
WITH
1,385,680
-----------------------------------------
10. SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,385,680
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 032159105 Page 4 of 8 pages
This Amendment No. 8 to Schedule 13D ("Amendment No. 8") amends and
supplements the prior statement on Schedule 13D (the "Statement") as filed by
Mr. Karabots on Amendment No. 7 to Schedule 13D dated January 5, 1995, Amendment
No. 6 to Schedule 13D dated September 15, 1994, Amendment No. 5 to Schedule 13D
dated June 2, 1994, Amendment No. 4 to Schedule 13D dated March 1, 1994 and
Amendment No. 3 to Schedule 13D dated January 31, 1994, which Amendment No. 3 to
Schedule 13D amended and restated the entire text of the statement on Schedule
13D dated August 4, 1993, as amended by Amendment No. 1 dated December 22, 1993
and Amendment No. 2 dated January 21, 1994, all of which relate to the Common
Stock, $.10 par value, of AMREP Corporation, an Oklahoma corporation. In the
event that any disclosure contained in this Amendment No. 8 is inconsistent with
the disclosures contained in the Statement, the disclosures contained herein
shall supersede such inconsistent disclosures from the date of this Amendment
No. 8.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 of the Statement is hereby amended by adding one new paragraph
following the last paragraph of Item 3 as follows:
Mr. Karabots acquired beneficial ownership of an aggregate of 314,500
shares of Common Stock of the Corporation through open market purchases made by
Glendi on January 10, 11 and 12, 1995, for an aggregate purchase price of
$2,538,811.50. Glendi made these purchases using general corporate funds and
funds obtained from its affiliate, Official Publications, Inc., a Delaware
corporation ("Official"). Mr. Karabots is the sole stockholder of Official.
Official obtained the funds by drawing on a line of credit established in the
ordinary course of business.
Item 5. Interest in Securities of the Issuer
Item 5 of the Statement is hereby amended by deleting paragraphs (a), (b)
and (c) thereof and substituting therefor the following:
(a) Mr. Karabots beneficially owns all of the 2,682,593 shares of the
Common Stock reported on this Statement, which shares represent approximately
36.3% of the outstanding shares of the Common Stock./1/ Mr. Karabots owns
751,913 of such shares of the Common Stock directly, he owns 1,385,680 of such
shares indirectly through Glendi, and he owns the remaining 545,000 of such
shares indirectly through other corporations of which he is the sole
shareholder, sole director and chief executive officer, none of which other
corporations individually owns five percent or more of the outstanding shares of
the Common Stock.
- ---------------
/1/ The percentage of outstanding shares of the Common Stock was calculated
with reference to the shares outstanding as of December 13, 1994, as
reported in the Corporation's Quarterly Report on Form 10-Q for the
quarterly period ended October 31, 1994.
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CUSIP No. 032159105 Page 5 of 8 pages
(b) Mr. Karabots has sole voting and sole dispositive power as to all of
the 2,682,593 shares of the Common Stock reported on this Statement. Glendi
also has sole voting and sole dispositive power as to 1,385,680 of such shares.
(c) Glendi has purchased 314,500 shares of the Common Stock on the open
market since January 5, 1995 as set forth on Annex I hereto.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Item 6 of the Statement is hereby amended by adding one new paragraph
following the last paragraph of Item 6 as follows:
The last paragraph of Item 3 is incorporated herein by reference.
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CUSIP No. 032159105 Page 6 of 8 pages
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.
January 12, 1995 /s/ Nick G. Karabots
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Date Nick G. Karabots
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CUSIP No. 032159105 Page 7 of 8 pages
SIGNATURE
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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.
GLENDI PUBLICATIONS, INC.
January 12, 1995 By: /s/ Nick G. Karabots
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Date Name: Nick G. Karabots
Title: Chairman
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CUSIP No. 032159105 Page 8 of 8 pages
ANNEX I
TRANSACTIONS IN THE COMMON STOCK OF THE CORPORATION
SINCE JANUARY 5, 1995
<TABLE>
<CAPTION>
Person
Effecting Nature of Number of Price Per
Date Transaction Transaction Shares Share
<S> <C> <C> <C> <C>
January 10, 1995 Glendi Purchase 6,500 $6.971
January 11, 1995 Glendi Purchase 38,000 $ 7.00
January 12, 1995 Glendi Purchase 270,000 $ 8.25
</TABLE>
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All of the purchases reflected in this Annex I were open market purchases.
