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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 22)
THE LIMITED, INC.
(Name of Issuer)
COMMON STOCK, $0.50 PAR VALUE 532716-10-7
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(Title of class of securities) (CUSIP number)
RAYMOND O. GIETZ, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
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(Name, address and telephone number of person authorized to receive
notices and communications)
AUGUST 9, 1999
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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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [_].
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#788688 v2
<PAGE>
<TABLE>
<CAPTION>
- ------------------------------------------------------- --------------------------------------------------------------
CUSIP No. 532716-10-7 13-D Page 2
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<S> <C>
1 NAME OF REPORTING PERSON: Leslie H. Wexner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- ----------------- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
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: 40,499,299
SHARES
------ --------------------------------------------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 6,058,317
OWNED BY
------ --------------------------------------------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 41,042,300
REPORTING
------ --------------------------------------------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 6,058,317
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 47,100,617
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 21.9%
- ----------------- ----------------------------------------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ----------------- ----------------------------------------------- -----------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
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CUSIP No. 532716-10-7 13-D Page 3
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1 NAME OF REPORTING PERSON: The Wexner Foundation
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- ----------------- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
- ----------------- -------------------------------------------------------------- --------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
- ------------------------- -------- --------------------------------------------- --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 708,317
SHARES
-------- --------------------------------------------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
-------- --------------------------------------------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 708,317
REPORTING
-------- --------------------------------------------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 708,317
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.3%
- ----------------- ----------------------------------------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 532716-10-7 13-D Page 4
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1 NAME OF REPORTING PERSON: Health and Science Interests II
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- ----------------- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
- ----------------- -------------------------------------------------------------- --------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
- --------------------------- ------ --------------------------------------------- --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 350,000
SHARES
------ --------------------------------------------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
------ --------------------------------------------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 350,000
REPORTING
------ --------------------------------------------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 350,000
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.2%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 532716-10-7 13-D Page 5
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1 NAME OF REPORTING PERSON: The Wexner Children's Trust
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- ----------------- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
- ----------------- ----------------------------------------------------------------- -----------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
- ------------------------------- -------- ------------------------------------------ -----------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 18,750,000
SHARES
-------- ------------------------------------------ -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
-------- ------------------------------------------ -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 18,750,000
REPORTING
-------- ------------------------------------------ -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 18,750,000
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.8%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 532716-10-7 13-D Page 6
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1 NAME OF REPORTING PERSON: Harry, Hannah, David and Sarah Wexner Trust
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- ----------------- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
- ----------------- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
- ----------------- -------------------------------------------------------------- --------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
- ------------------------------- ------ ----------------------------------------- --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 5,000,000
SHARES
------ ----------------------------------------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
------ ----------------------------------------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 5,000,000
REPORTING
------ ----------------------------------------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 5,000,000
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.3%
- ----------------- ----------------------------------------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 532716-10-7 13-D Page 7
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1 NAME OF REPORTING PERSON: ASW Holdings, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 31-1654943
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
- ----------------- -------------------------- --------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: N/A
- ----------------- -----------------------------------------------------------------------------------------------------------------
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: -0-
SHARES
------ ----------------------------------------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
------ ----------------------------------------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: -0-
REPORTING
------ ----------------------------------------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: -0-
- ----------------- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
- ----------------- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.0%
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14 TYPE OF REPORTING PERSON: CO
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</TABLE>
<PAGE>
This Amendment No. 22 amends the Schedule 13D dated June
25, 1985, as amended in certain respects by Amendments No. 1 through 21 thereto,
filed by a group currently comprised of Leslie H. Wexner, The Wexner Foundation,
Health and Science Interests II, The Wexner Children's Trust, Harry, Hannah,
David and Sarah Wexner Trust and ASW Holdings, Inc. (collectively, the
"Purchasers"), with respect to the common stock, $0.50 par value per share (the
"Common Stock"), of The Limited, Inc. (the "Company").
Item 5. Interest in Securities of the Issuer.
(a) The responses of the Purchasers to Rows (11) through
(13) of the cover pages of this Amendment No. 22 are incorporated herein by
reference. As of August 9, 1999, the Purchasers beneficially owned the number
shares of the Common Stock listed below, representing approximately the
percentage of the outstanding shares of Common Stock set forth opposite such
number (the outstanding shares of Common Stock, 214,080,134, being based on the
number of shares outstanding as of June 7, 1999 as reported in the Company's
Form 10-Q for the fiscal quarter ended May 1, 1999):
<TABLE>
<CAPTION>
Percent
Person Number of Shares of Class
------ ---------------- --------
<S> <C> <C>
1. Leslie H. Wexner 47,100,617 (1)(2)(3)(4)(5)(6) 21.9%
2. The Wexner Foundation 708,317 (1) 0.3%
3. Health and Science Interests II 350,000 (2) 0.2%
4. The Wexner Children's Trust 18,750,000 (4) 8.8%
5. Harry, Hannah, David and Sarah Wexner Trust 5,000,000 (5) 2.3%
6. ASW Holdings, Inc. -0- (6) 0.0%
------------------------------
</TABLE>
(1) Power to vote or direct the disposition of the 708,317 shares held by
The Wexner Foundation may be deemed to be shared by Leslie H. Wexner
and Jeffrey E. Epstein as the trustees of The Wexner Foundation.
Leslie H. Wexner and Jeffrey E. Epstein disclaim beneficial ownership
of the shares held by The Wexner Foundation.
(2) Power to vote or direct the disposition of the 350,000 shares held by
Health and Science Interests II may be deemed to be shared by Leslie
H. Wexner and Jeffrey E. Epstein as trustees thereof. Leslie H.
Wexner and Jeffrey E. Epstein disclaim beneficial ownership of shares
held by Health and Science Interests II.
(3) Includes 543,001 shares held in The Limited, Inc. Savings and
Retirement Plan for Mr. Wexner's account (as of June 30, 1999) over
which he exercises dispositive but not voting control. Also includes
651,327 shares issuable upon exercise of options held by Mr. Wexner.
Excludes 875 shares and 254 options held directly by Abigail S.
Wexner, Mr. Wexner's wife, and 200,000 shares held in a trust of
which Ms. Wexner is a beneficiary, as to which Mr. Wexner disclaims
beneficial ownership.
(4) Power to vote or direct the disposition of the 18,750,000 shares held
by Leslie H. Wexner as the sole trustee of The Wexner Children's
Trust.
8
<PAGE>
(5) Power to vote or direct the disposition of the 5,000,000 shares held
by the Harry, Hannah, David and Sarah Wexner Trust may be deemed to
be shared by Leslie H. Wexner and Jeffrey E. Epstein as trustees of
such trust.
(6) Power to vote or direct the disposition of the shares held by ASW
Holdings may be deemed to be shared by ASW Holdings with Leslie H.
Wexner, by reason of his rights as the settlor of the trust that
holds 100% of the outstanding capital stock of ASW Holdings.
(b) The responses of the Purchasers to (i) Rows (7) through
(10) of the cover pages of this Amendment No. 22 and (ii) Item 5(a) hereof are
incorporated herein by reference.
(c) Except for the transactions described in Item 6 of this
Amendment No. 22 (which are hereby incorporated herein by reference), since the
filing of Amendment No. 21 to this Schedule 13D, the Purchasers effected the
following transactions in the Common Stock:
<TABLE>
<CAPTION>
Date of Amount of Price per Where and
Person Transaction Securities Share How Effected
------ ----------- ---------- ----- ------------
<S> <C> <C> <C> <C>
ASW Holdings, Inc. 8/5/99 1,800,000 shares $45.00 NYSE (sale)
</TABLE>
(d), (e): Not Applicable
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
On August 9, 1999, Leslie H. Wexner contributed 1,600,000
shares of Common Stock to ASW Investments, a trust organized under the laws of
Ohio. On that same date, ASW Investments contributed its 1,600,000 of Common
Stock to ASW Holdings, Inc., a Delaware corporation ("ASW Holdings"). Both of
these contributions involved no consideration in exchange. ASW Holdings is
wholly-owned by ASW Investments.
On August 9, 1999, ASW Holdings sold 7,000,000 shares of
Common Stock, at $41 per share, to Bear, Stearns & Co. Inc. in a private
transaction.
Item 7. Materials to be Filed as Exhibits.
Exhibit 1 Joint Filing Agreement by and among Leslie H. Wexner, The
Wexner Foundation, Health and Science Interests II, The Wexner
Children's Trust, Harry, Hannah, David and Sarah Wexner Trust,
and ASW Holdings, Inc., dated August 10, 1999.
9
<PAGE>
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.
Dated: August 10, 1999
Leslie H. Wexner
-----------------------------------------
Leslie H. Wexner
THE WEXNER FOUNDATION
By: Darren K. Indyke
-------------------------------------
Darren K. Indyke, Secretary
HEALTH AND SCIENCE INTERESTS II
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, Trustee
THE WEXNER CHILDREN'S TRUST
By: Leslie H. Wexner
-------------------------------------
Leslie H. Wexner, Trustee
HARRY, HANNAH, DAVID AND SARAH WEXNER
TRUST
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, Trustee
ASW HOLDINGS, INC.
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, President
10
<PAGE>
EXHIBIT INDEX
-------------
Exhibit No.
- -----------
Exhibit 1 Joint Filing Agreement by and among Leslie H. Wexner, The
Wexner Foundation, Health and Science Interests II, The Wexner
Children's Trust, Harry, Hannah, David and Sarah Wexner Trust,
and ASW Holdings, Inc., dated August 10, 1999.
11
Exhibit 1
JOINT FILING AGREEMENT
This will confirm the agreement by and among all the
undersigned that the Schedule 13D filed on or about this date and any amendments
thereto with respect to beneficial ownership by the undersigned of shares of the
common stock, par value $0.50 per share, of The Limited, Inc. is being filed on
behalf of each of the undersigned in accordance with Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934. This agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
Dated: August 10, 1999
Leslie H. Wexner
-----------------------------------------
Leslie H. Wexner
THE WEXNER FOUNDATION
By: Darren K. Indyke
-------------------------------------
Darren K. Indyke, Secretary
HEALTH AND SCIENCE INTERESTS II
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, Trustee
THE WEXNER CHILDREN'S TRUST
By: Leslie H. Wexner
-------------------------------------
Leslie H. Wexner, Trustee
HARRY, HANNAH, DAVID AND SARAH WEXNER
TRUST
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, Trustee
12
<PAGE>
ASW HOLDINGS, INC.
By: Jeffrey E. Epstein
-------------------------------------
Jeffrey E. Epstein, President
13
