UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Display Technologies, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
25469V102
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(CUSIP Number)
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13G
CUSIP No. 25469V105
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1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO.
Renaissance US Growth & Income Trust PLC None - Foreign
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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
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
England
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
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5. SOLE VOTING POWER
661,196 shares
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6. SHARED VOTING POWER
None
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7. SOLE DISPOSITIVE POWER
661,196 shares
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8. SHARED DISPOSITIVE POWER
None
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
661,196 shares
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not applicable
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.82%
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12. TYPE OF REPORTING PERSON
IV
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ITEM 1.
(a), (b) Display Technologies, Inc. ("Company")
5029 Edgewater Drive
Orlando, FL 32810
ITEM 2.
(a) Name of Person Filing
Renaissance US Growth & Income Trust PLC ("Filer")
(b) Address of principal Business Office or, if none, Residence
c/o Renaissance Capital Group, Inc., Investment Manager
8080 N. Central Expressway, Suite 210, LB 59
Dallas, TX 75206-1857
(c) Citizenship
England
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
No CUSIP Number; traded on London Stock Exchange
However, ISIN No. is GB00007325185
ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) ______ Broker or Dealer registered under Section 15 of the Act
(b) ______ Bank as defined in section 3(a)(6) of the Act
(c) ______ Insurance Company as defined in section 3(a)(19) of the Act
(d) ______ Investment Company registered under section 8 of the Investment
Company Act
(e) ______ Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) ______ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see section 240.13d-1(b)(1)(ii)(F)
(g) ______ Parent Holding Company, in accordance with section 240.13d-1(b)
(ii)(G)(Note: See Item 7)
(h) ______ Group, in accordance with section 240.13d-1(b)(1)(ii)(H)
ITEM 4. Ownership.
(a) Amount Beneficially Owned:
On March 2, 1998, the Company and the Filer entered into an 8.75%
Convertible Debenture Loan Agreement for $1,750,000 due March 2, 2005,
and convertible at $4.75 per share. This position is convertible
within sixty days. On March 2, 1998, the Filer also purchased 115,741
shares of the Company's common stock along with a warrant to purchase
100,000 shares of the Company's common stock on or before March 2, 2003.
On November 30, 1998, a 5% stock dividend was given to the Filer which
lowered the conversion price on the debenture to $4.52, increased the
common shares held by the Fund to 121,528, and increased the warrants
held by the Fund to 105,000. Between April 28, 1999 and May 27, 1999,
the Filer purchased 47,500 shares of the Company's common stock. Thus
the Filer owns 661,196 shares of the Company's common stock on a fully
converted basis.
(b) Percent of Class
9.82%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
661,196 shares
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of:
661,196 shares
(iv) shared power to dispose or to direct the disposition of: None
ITEM 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following:
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
ITEM 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not applicable.
ITEM 8. Identification and Classification of Members of the Group.
Not applicable.
ITEM 9. Notice of Dissolution of Group.
Not applicable.
ITEM 10. Certification.
By signing below I certify that, to the best of my 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, I
certify that the information set forth in this statement is true, complete and
correct.
Date: June 2, 1999 /S/
__________________________________________
Signature
Renaissance US Growth & Income Trust PLC by
Renaissance Capital Group, Inc., Investment
Manager,
Russell Cleveland, President
___________________________________________
Name and Title
