<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
London & Overseas Freighters Limited
-----------
(Name of Issuer)
American Depositary Shares
------------
(Title of Class of Securities)
541794 30 1
-----------
(CUSIP Number)
Check the following 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 of such class.) (See
Rule 13d-7.)
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).
1
<PAGE>
CUSIP NO. 541794 30 1 13G
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Corporation
Tax Identification No. 41-0449260
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
381,700
BENEFICIALLY -----------------------------------------------------------
SHARED VOTING POWER
OWNED BY 6
0
EACH -----------------------------------------------------------
7 SOLE DISPOSITIVE POWER
REPORTING
414,900
PERSON 8 -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH
25,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
442,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
2
<PAGE>
CUSIP NO. 541794 30 1 13G
- --------------------------------------------------------------------------------
1 NAME OR REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Colorado, Inc.
Tax Identification No. 84-1187164
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
COLORADO
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 381,700
------------------------------------------------------------
BENEFICIALLY SHARED VOTING POWER
6
OWNED BY 0
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 414,900
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 25,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
442,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
3
<PAGE>
CUSIP NO. 541794 30 1 13G
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Bank Colorado, National Association (successor to
Norwest Bank Denver, National Association)
Tax Identification No. 84-0187632
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 381,700
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
7 ------------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING 414,900
8 ------------------------------------------------------------
PERSON SHARED DISPOSITIVE POWER
WITH 25,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
442,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BK
- --------------------------------------------------------------------------------
4
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Item 1(a) Name of Issuer:
- --------- --------------
London & Overseas Freighter Limited
Item 1(b) Address of Issuer's Principal Executive Offices:
- --------- -----------------------------------------------
Hemisphere House
9 Church Street West
Hamilton HM 11, Bermuda
Item 2(a) Name of Person Filing:
- --------- ---------------------
1. Norwest Corporation
2. Norwest Colorado, Inc. ("NCI")
3. Norwest Bank Colorado, National Association (successor to
Norwest Bank Denver, National Association) ("NBC")
This statement is filed by Norwest Corporation on behalf of
all of the persons listed above pursuant to Rule 13d-1(b).
Attached is an agreement among the persons listed above to
that effect. NCI is a direct subsidiary of Norwest
Corporation. NBC is a direct subsidiary of NCI and an
indirect subsidiary of Norwest Corporation.
5
<PAGE>
Item 2(b) Address of Principal Business Office(s):
- --------- ---------------------------------------
1. Norwest Corporation
Norwest Center
Sixth and Marquette
Minneapolis, MN 55479-1000
2. Norwest Colorado, Incorporated
One United Bank Center
1700 Lincoln Street
Denver, CO 80274-0010
3. Norwest Bank Colorado, National Association
1700 Broadway
Denver, CO 80274-0005
Item 2(c) Citizenship:
- --------- -----------
1. Norwest Corporation is a Delaware corporation.
2. NCI is a Colorado corporation.
3. NBC is a national banking association.
Item 2(d) Title of Class of Securities:
- --------- ----------------------------
American Depositary Shares
Item 2(e) CUSIP Number:
- --------- ------------
541794 30 1
Item 3 Type of Person:
- ------ --------------
(g) Parent holding company for Norwest Corporation
(g) Parent holding company for NCI
(b) Bank for NBC
Item 4 Ownership:
- ------ ---------
1. Norwest Corporation
(a) Amount Beneficially Owned. At December 31, 1993, Norwest
Corporation was deemed to own, indirectly through its
subsidiaries, 442,000 shares, consisting solely of the shares
reported below as held by NCI and by NBC. Norwest Corporation has
no other
6
<PAGE>
rights to acquire additional shares through the exercise of options or
otherwise.
(b) Percent of Class: 6.0%
(c) Number of shares as to which Norwest Corporation, indirectly
through its subsidiaries, has:
(i) Sole power to vote or direct the vote: 381,700
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
414,900
(iv) Shared power to dispose or direct the disposition of:
25,000
2. NCI
(a) Amount Beneficially Owned. At December 31, 1993, NCI was deemed
to own, indirectly through its subsidiaries, 442,000 shares,
consisting solely of the shares reported below as held by NBC.
(b) Percent of Class: 6.0%
(c) Number of shares as to which NCI, indirectly through its
subsidiaries, has:
(i) Sole power to vote or direct the vote: 381,700
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
414,900
(iv) Shared power to dispose or direct the disposition of: 25,000
3. NBC
(a) Amount Beneficially Owned. At December 31, 1993, NBC was deemed
to own 442,000 shares. NBC has no other rights to acquire
additional shares through the exercise of options or otherwise.
(b) Percent of Class: 6.0%
7
<PAGE>
(c) Number of shares as to which NBC has:
(i) Sole power to vote or direct the vote: 381,700
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
414,900
(iv) Shared power to dispose or direct the disposition of:
25,000
The persons filing disclaim beneficial ownership of, and the filing of
this statement shall not be construed as an admission that the persons
filing are beneficial owners of, the shares covered by this statement
for purposes of Sections 13, 14, or 16 of the Act.
Item 5 Ownership of Five Percent or Less of Class:
- ------ ------------------------------------------
Not Applicable
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:
------------------------------------------------------------
See Exhibit A
Item 8 Identification and Classficiation of Members of the Group:
- ------ ---------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
- ------ ------------------------------
Not Applicable
8
<PAGE>
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.
Dated: February 4, 1994
NORWEST CORPORATION
By /s/ Laurel A. Holschuh
----------------------
Laurel A. Holschuh, Senior Vice President
and Secretary
9
<PAGE>
EXHIBIT A
---------
(Attached to and forming a part of Schedule 13G filed by Norwest Corporation on
its own behalf and on behalf of Norwest Colorado, Inc. and Norwest Bank
Colorado, National Association regarding London & Overseas Freighters Limited
American Depositary Shares.)
Item 7
- ------
(a) Norwest Bank Colorado, National Association is a bank - Item 3(b)
(b) Norwest Colorado, Inc. is a parent holding company - Item 3(g)
10
<PAGE>
AGREEMENT
---------
The undersigned hereby agree that the statement on Schedule 13G to which this
Agreement is attached shall be filed on behalf of Norwest Colorado, Inc. and
Norwest Bank Colorado, National Association by Norwest Corporation, which
directly holds 100% of the outstanding capital stock of Norwest Colorado, Inc.
and indirectly holds 100% of the outstanding capital stock of Norwest Bank
Colorado, National Association.
Dated: February 4, 1994
NORWEST CORPORATION
By: /s/ Laurel A. Holschuh
-----------------------
Laurel A. Holschuh, Senior Vice President
and Secretary
NORWEST COLORADO, INC.
By: /s/ Dennis D. Erickson
----------------------
Dennis D. Erickson, Executive Vice
President, Treasurer, Chief
Financial Officer, and Assistant
Secretary
NORWEST BANK COLORADO, NATIONAL ASSOCIATION
(successor to Norwest Bank Denver, National Association)
By: /s/ Denise B. Johnson
---------------------
Denise B. Johnson, Vice President
11
