SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
(Rule 13d-1)
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. 1)
HMG WORLDWIDE CORPORATION
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)
404235103
(CUSIP Number)
Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza - Suite 4720
New York, New York 10119
Attention: Mr. Nelson Obus
(Name, Address and Telephone Number of Person Authorized)
to Receive Notices and Communications)
Copy to:
Steven F. Wasserman, Esq.
Berlack, Israels & Liberman LLP
120 West 45th Street
New York, New York 10035
(212) 704-0100
September 21, 1999
(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 Rule 13d-1(e)(3) 13d-1(f) or 13d-1(g), check the following
box: ( X )
<PAGE>
SCHEDULE 13D
CUSIP No. 404235103 Page 2 of 9 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 58,410
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 58,410
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
58,410 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(Page 2 of 9 Pages)
<PAGE>
SCHEDULE 13D
CUSIP No. 404235103 Page 3 of 9 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value Offshore Fund, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Not Applicable
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS (2)(d) or (2)(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 45,410
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 45,410
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,410 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
(Page 3 of 9 Pages)
<PAGE>
SCHEDULE 13D
CUSIP No. 404235103 Page 4 of 9 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P. I
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3953291
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 56,080
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 56,080
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
56,080 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(Page 4 of 9 Pages)
<PAGE>
Item 1. Security and Issuer.
This Statement relates to shares of the Common Stock, $0.01 par value
per share (the "Shares"), of HMG Worldwide Corporation, a Delaware corporation
(the "Issuer"). The principal executive offices of the Issuer are located at 475
Tenth Avenue, New York, New York 10018.
Item 2. Identity and Background.
Incorporated by reference to the initial Schedule 13D filing.
Item 3. Source and Amount of Funds or Other Consideration.
Not Applicable.
Item 4. Purposes of Transaction.
This Schedule 13D is filed as a result of the Wynnefield Group selling
shares of HMG Worldwide Corporation. As a result, it presently beneficially owns
less than 5% of the outstanding common stock.
Item 5. Interests in Securities of the Issuer.
(a) As of the close of business on the date hereof, the three entities
referred to as the Wynnefield Group beneficially owned a total of 160,000
Shares, the separate ownership of which is set forth on Schedule 13D, Amendment
No. 1. The Shares owned by the three entities referred to as the Wynnefield
Group represent approximately 1.4% of the outstanding Shares of the Issuer,
based on the 11,326,000 Shares reported as outstanding.
(b) The entities in the Wynnefield Group made their separate sales of
Shares in the over-the-counter market as follows:
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
Partnership April 13, 1999 39,600 $ 4.0
Partnership April 14, 1999 2,100 4.0
Partnership April 23, 1999 10,000 4.0
Partnership May 4, 1999 230 4.5
(Page 5 of 9 Pages)
<PAGE>
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
Partnership May 4, 1999 230 4.0
Partnership May 5, 1999 2,200 4.4918
Partnership May 6, 1999 11,200 4.25
Partnership May 7, 1999 2,000 4.25
Partnership May 11, 1999 8,500 4.25
Partnership May 14, 1999 1,180 4.25
Partnership May 17, 1999 400 4.25
Partnership May 19 ,1999 1,500 4.25
Partnership July 6, 1999 10,700 4.19
Partnership July 7, 1999 3,600 4.335
Partnership July 8, 1999 1,100 5.0
Partnership July 9, 1999 350 4.75
Partnership July 12, 1999 31,900 4.8053
Partnership July 19, 1999 3,900 4.5625
Partnership September 7, 1999 18,900 4.125
Partnership September 8, 1999 13,000 4.125
Partnership September 9, 1999 400 4.125
Partnership September 10, 1999 21,900 4.1875
Partnership September 13, 1999 3,400 4.1875
Partnership September 21, 1999 9,700 4.625
Partnership I April 23, 1999 10,000 4.0
Partnership I May 4,1999 250 4.5
Partnership I May 5, 1999 2,700 4.4918
Partnership I May 6, 1999 13,600 4.25
Partnership I May 7, 1999 2,400 4.25
(Page 6 of 9 Pages)
<PAGE>
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
Partnership I May 11, 1999 10,500 4.25
Partnership I May 14, 1999 1,400 4.25
Partnership I May 17, 1999 550 4.25
Partnership I May 19 ,1999 2,500 4.25
Partnership I July 6, 1999 14,200 4.19
Partnership I July 7, 1999 4,800 4.335
Partnership I July 8, 1999 1,400 5.0
Partnership I July 9, 1999 450 4.75
Partnership I July 12, 1999 8,500 4.8053
Partnership I July 19, 1999 5,100 4.5625
Partnership I July 30, 1999 9,300 4.5
Partnership I August 27, 1999 900 3.75
Partnership I September 7, 1999 22,700 4.125
Partnership I September 8, 1999 17,300 4.125
Partnership I September 10, 1999 28,400 4.1875
Partnership I September 13, 1999 4,500 4.1875
Partnership I September 21, 1999 12,900 4.625
Fund April 23, 1999 5,000 4.0
Fund May 4,1999 120 4.5
Fund May 5, 1999 1,200 4.4918
Fund May 6, 1999 6,000 4.25
Fund May 7, 1999 1,100 4.25
Fund May 11, 1999 4,800 4.25
Fund May 14, 1999 620 4.25
Fund May 17, 1999 250 4.25
(Page 7 of 9 Pages)
<PAGE>
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
Fund May 19 ,1999 1,000 4.25
Fund July 6, 1999 5,000 4.19
Fund July 7, 1999 1,700 4.335
Fund July 8, 1999 500 5.0
Fund July 9, 1999 200 4.75
Fund July 12, 1999 15,000 4.8053
Fund July 19, 1999 1,900 4.5625
Fund September 7, 1999 10,400 4.125
Fund September 8, 1999 6,200 4.125
Fund September 10, 1999 10,200 4.1875
Fund September 13, 1999 1,600 4.1875
Fund September 21, 1999 4,600 4.625
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Incorporated by Reference to the initial Schedule 13D filing.
(Page 8 of 9 Pages)
<PAGE>
Item 7. Material to be Filed as Exhibits.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this Statement is true,
complete and correct.
Dated: October 6, 1999
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: S/Joshua Landes
--------------------------------------
Joshua Landes, Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: S/Joshua Landes
--------------------------------------
Joshua Landes, Vice President
(Page 9 of 9 Pages)
