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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No._______)*
National Convenience Stores, Inc.
(Name of Issuer)
Common Stock**
(Title Of Class of Securities)
635570500
(CUSIP Number)
Check the following box if a fee is being paid with this statement /X/. (A fee
is not required only if the filing 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 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 ("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).
- -----------
** The amount reflected in item 9 of the cover pages includes 150,585
shares of common stock issuable upon conversion of warrants (CUSIP 635570112)
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CUSIP NO. 635570500 13G Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch & Co., Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
None
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NUMBER OF 6 SHARED VOTING POWER
SHARES 411,800
BENEFICIALLY -------------------------------------------------------
OWNED 7 SOLE DISPOSITIVE POWER
BY EACH None
REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
411,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
411,800
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
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12 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 635570500 13G Page 3 of 11 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch Group, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
None
-------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 411,800
BENEFICIALLY -------------------------------------------------------
OWNED 7 SOLE DISPOSITIVE POWER
BY EACH None
REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
411,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
411,800
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
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12 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 635570500 13G Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Princeton Services, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
None
-------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 411,800
BENEFICIALLY -------------------------------------------------------
OWNED 7 SOLE DISPOSITIVE POWER
BY EACH None
REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
411,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
411,800
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
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12 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 635570500 13G Page 5 of 11 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fund Asset Management, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
None
-------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 411,800
BENEFICIALLY -------------------------------------------------------
OWNED 7 SOLE DISPOSITIVE POWER
BY EACH None
REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
411,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
411,800
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
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12 TYPE OF REPORTING PERSON*
IA, PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 635570500 13G Page 6 of 11 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch Phoenix Fund, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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5 SOLE VOTING POWER
None
-------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 411,800
BENEFICIALLY -------------------------------------------------------
OWNED 7 SOLE DISPOSITIVE POWER
BY EACH None
REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
411,800
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
411,800
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IV
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*SEE INSTRUCTION BEFORE FILLING OUT!
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SCHEDULE 13G
Item 1 (a) Name of Issuer:
National Convenience Stores
Item 1 (b) Address of Issuer's Principal Executive Offices:
100 Waugh Drive
Houston, Texas 77007
Item 2 (a) Names of Persons Filing:
Merrill Lynch & Co., Inc.
Merrill Lynch Group, Inc.
Princeton Services, Inc.
Fund Asset Management, L.P.
Merril Lynch Phoenix Fund, Inc.
Item 2 (b) Address of Principal Business Office, or, if None, Residence:
Merrill Lynch & Co., Inc.
World Financial Center, North Tower
250 Vesey Street
New York, New York 10281
Merrill Lynch Group, Inc.
World Financial Center, North Tower
250 Vesey Street
New York, New York 10281
Princeton Services, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Fund Asset Management, L.P.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Merril Lynch Phoenix Fund, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Page 7 of 11 Pages
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Item 2 (c) Citizenship:
See Item 4 of Cover Pages
Item 2 (d) Title of Class of Securities:
Common Stock
Item 2 (e) CUSIP Number:
635570500
Item 3
Merrill Lynch & Co., Inc. ("ML&Co."), Merrill Lynch Group, Inc. ("ML
Group") and Princeton Services, Inc. ("PSI") are parent holding companies, in
accordance with (S) 240.13d-1(b)(1)(ii)(G). Fund Asset Management, L.P. ("FAM")
is an investment adviser registered under (S) 203 of the Investment Advisers Act
of 1940. Merril Lynch Phoenix Fund, Inc. ("the Fund") is an investment company
registered under Section 8 of the Investment Company Act of 1940.
Item 4 Ownership
(a) Amount Beneficially Owned:
See Item 9 of Cover Pages. Pursuant to (S) 240.13d-4, ML&Co., ML
Group, PSI, FAM, and the Fund (the "Reporting Persons") disclaim beneficial
ownership of the securities of National Convenience Stores, Inc. ("The Company")
referred to herein, and the filing of this Schedule 13G shall not be construed
as an admission that the Reporting Persons are, for the purposes of Section
13(d) or 13(g) of the Securities Exchange Act of 1934 the beneficial owner of
any securities of the Company covered by this statement.
(b) Percent of Class:
See Item 11 of Cover Pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
See Item 5 of Cover Pages
(ii) shared power to vote or to direct the vote:
See Item 6 of Cover Pages
(iii) sole power to dispose or to direct the disposition of:
See Item 7 of Cover Pages
(iv) shared power to dispose or to direct the disposition of:
Page 8 of 11 Pages
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See Item 8 of Cover Pages
Item 5 Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person.
MLAM is an investment adviser registered under Section 203 of the
Investment Advisers Act of 1940 and acts as an investment adviser to investment
companies registered under Section 8 of the Investment Company Act of 1940.
With respect to securities held by those investment companies, several persons
have the right to receive, or the power to direct the receipt of dividends from,
or the proceeds from the sale of, such securities. The Fund, a reporting person
on this Schedule 13G for which MLAM serves as investment adviser, has an
interest that relates to more than 5% of the class of securities reported
herein. No other person has an interest that relates to more than 5% of the
class of securities reported herein.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
See Exhibit A
Item 8 Identification and Classification of Members of the Group.
Not Applicable
Item 9 Notice of Dissolution of Group.
Not Applicable
Page 9 of 11 Pages
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Item 10 Certification.
By signing below each of the undersigned certifies that, to the best
of their knowledge and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the purpose of and do
not have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purposes or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: February 14, 1994 Merrill Lynch & Co., Inc.
/s/ David L. Dick
----------------------------------
Name: David L. Dick
Title: Assistant Secretary
Merrill Lynch Group, Inc.
/s/ David L. Dick
----------------------------------
Name: David L. Dick
Title: Secretary
Princeton Services, Inc.
/s/ David L. Dick
----------------------------------
Name: David L. Dick
Title: Attorney-in-Fact*
Fund Asset Management, L.P.
By: Princeton Services, Inc.
(General Partner)
/s/ David L. Dick
----------------------------------
Name: David L. Dick
Title: Attorney-in-Fact**
Merrill Lynch Phoenix Fund, Inc.
/s/ David L. Dick
----------------------------------
Name: David L. Dick
Title: Attorney-in-Fact**
________________
* Signed pursuant to a power of attorney, dated February 10, 1994, included as
an exhibit to Schedule 13G filed with the Securities and Exchange Commission
by Merrill Lynch & Co., Inc., et. al. on February 14, 1994 with respect to
Dial REIT Inc.
** Signed pursuant to a power of attorney, dated February 10, 1994, included
as an exhibit to Schedule 13G filed with the Securities and Exchange
Commission by Merrill Lynch & Co., Inc., et. al. on February 14, 1994 with
respect to Matrix Service Company.
Page 10 of 11 Pages
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EXHIBIT A TO SCHEDULE 13G
ITEM 7 DISCLOSURE RESPECTING SUBSIDIARIES
Three of the persons filing this report, Merrill Lynch & Co., Inc., a
Delaware corporation with its principal place of business at World Financial
Center, North Tower, 250 Vesey Street, New York, New York ("ML&Co."), Merrill
Lynch Group, Inc., a Delaware corporation with its principal place of business
at World Financial Center, North Tower, 250 Vesey Street, New York, New York
("ML Group"), and Princeton Services, Inc., a Delaware corporation with its
principal place of business at 800 Scudders Mill Road, Plainsboro, New Jersey
("PSI"), are parent holding companies pursuant to Rule 13d-1(b)(1)(ii)(G). The
relevant subsidiaries of ML&Co. are ML Group and PSI, which is the general
partner of Fund Asset Management, L.P. ('"FAM"). The relevant subsidiary of ML
Group is PSI.
ML Group, a wholly-owned direct subsidiary of ML&Co., may be deemed to
be the beneficial owner of 6.7% of the common stock of National Convenient
Stores (the "Company") by virtue of its control of its wholly-owned subsidiary,
PSI.
PSI, a wholly-owned direct subsidiary of ML Group, may be deemed to be
the beneficial owner of 6.7% of the common stock of the Company by virtue of its
being the general partner of FAM.
FAM, a Delaware limited partnership with its principal place of
business at 800 Scudders Mill Road, PLainsboro, New Jersey, is an investment
adviser registered under Section 203 of the Investment Advisors Act of 1940.
FAM may be deemed to be the beneficial owner of 6.7% of the common stock of the
Company as a result of its acting as investment adviser to investment companies
registered under Section 8 of the Investment Company Act of 1940.
One registered investment company advised by FAM, Merril Lynch Phoenix
Fund, Inc., is the beneficial owner of 6.7% of the common stock of the Company.
Pursuant to (S) 240.13d-4, ML&Co., ML Group, PSI, FAM and the Fund
disclaim beneficial ownership of the securities of the Company, and the filing
of this Schedule 13G shall not be construed as an admission that any such entity
is, for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of
1934, the beneficial owner of any securities of the Company.
Page 11 of 11 Pages
