SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
Addington Resources, Inc.
(Name of Issuer)
Common Stock, par value $1.00
(Title of Class of Securities)
006516108
(CUSIP Number)
Mr. Howard P. Berkowitz (212) 664-0990
HPB Associates, L.P. 888 Seventh Avenue
New York, New York 10106
(Name, address and telephone number of person
authorized to receive notices and communications)
August 24, 1995
(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 which is the subject of
this Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the
statement [ ]. (A fee is not required only if the reporting
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.)
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. HPB Associates, L.P.
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
WC
_____________________________________________________________________________
(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 2,955,285
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 2,955,285
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 2,955,285
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 18.6%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Howard P. Berkowitz
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 2,955,285 (all shares are
owned for the account of HPB Associates, L.P.)
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 2,955,285 (all shares are
owned for the account of HPB Associates, L.P.)
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 2,955,285 (all shares are
owned for the account of HPB Associates, L.P.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 18.6%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Harold Blumenstein
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
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 EACH 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
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. James Grosfeld
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [X]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 55,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 55,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 55,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.3
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Richard Ravitch
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
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 EACH 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
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Schedule 13D, initially filed on January 20, 1992, as amended
by Amendment No. 1 filed on April 5, 1995, Amendment No. 2 filed on July 18,
1995 and Amendment No. 3 filed on August 11, 1995 by HPB Associates, L.P., a
Delaware limited partnership (the "Partnership"), and by Howard P. Berkowitz,
the managing partner of the Partnership, relating to the common stock, par
value $1.00 per share (the "Common Stock"), of ADDINGTON RESOURCES, INC., a
Delaware corporation whose principal executive offices are located at 1500
North Big Run Road, Ashland, Kentucky 41102 (the "Company") is hereby amended
by this Amendment No. 4 to the Schedule 13D as follows:
Item 2. Identity and Background.
Item 2 is hereby supplemented by the addition of the following:
Mr. Ravitch's present principal occupation is
as Chairman of Aquarius Management Corporation, a real estate management
company. The business address of Mr. Ravitch is 375 Park Avenue, New York,
New York 10022. Mr. Ravitch is a citizen of the United States.
Mr. Ravitch has not, during the last five years:
A. been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors); or
B. been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and, as a result of such
proceeding, was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or a finding of any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby supplemented by the addition of the following:
The source of funds for the purchase reported by the
Partnership in Item 4 below was the Partnership's capital. The total
amount of funds used by the Partnership to purchase the 1,422,997
shares of Common Stock (the "Subsequent Closing Shares") is $12,806,973.
Item 4. Purpose of Transaction.
Item 4 is hereby supplemented by the addition of the following:
The Subsequent Closing Shares were purchased on August 24, 1995
from the Addingtons pursuant to the Subsequent Closing under the Stock
Purchase Agreement.
The Subsequent Closing Shares were purchased by the Partnership
for a cash purchase price of $9.00 per share, or an aggregate purchase price
of $12,806,973. The Partnership and/or its affiliates and general and limited
partners now owns 2,955,285 shares of Common Stock, or 18.6% of the
outstanding Common Stock. The purchase price is subject to upward adjustment
of $1 per share if the Partnership disposes of Common Stock on or prior to
August 31, 1997 for a price in excess of $25 per share.
By virtue of the resignation from the Company's Board of Directors
of Bruce Addington, the designees of the Partnership on the Board of Directors
now constitute a majority of the directors, and the Partnership may be deemed
to control the Company.
Despite the provisions in the Stock Purchase Agreement and the
consummation of the Subsequent Closing thereunder, the Partnership (i)
expressly disclaims being part of a group with any or all of the Addingtons
for the purpose of holding, voting or disposing of Common Stock and (ii)
expressly disclaims beneficial ownership of the Common Stock owned by any or
all of the Addingtons.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby supplemented (and with respect to Mr. Grosfeld,
corrected) by the addition of the following:
(a) As of the date of this filing, (i) the Partnership and/or its
affiliates and general and limited partners (including the other reporting
persons) beneficially owns, within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), 2,955,285
shares of the Common Stock (the "Partnership Shares") or 18.6% of the
outstanding shares of Common Stock and (ii) Mr. Grosfeld, individualy,
beneficially owns, within the meaning of Rule 13d-3 under the Exchange Act,
55,000 shares of the Common Stock (the "Grosfeld Shares") or 0.3% of the
outstanding shares of Common Stock (in each case, based upon 15,923,651 shares
of Common Stock reported to be outstanding by the Company as of August 13,
1995 in the Company's Quarterly Report on Form 10-Q for the quarter ended June
30, 1995). The Partnership Shares are separate and distinct from the Grosfeld
Shares.
(b) The Partnership and/or its affiliates and general and limited
partners (including the other reporting persons) has the power to vote and
dispose of the Partnership Shares, which power with respect to the
Partnership, may be exercised by its managing partner, Mr. Berkowitz. Mr.
Grosfeld has the power to vote and dispose of the Grosfeld Shares, and the
Partnership does not have the power to vote and dispose of the Grosfeld
Shares.
(c) There were no transaction in the Common Stock
effected by the reporting persons during the past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
Item 7 is hereby supplemented by the addition of the following:
1. Joint Acquisition Statement, dated as of August 31, 1995.
<PAGE>
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: August 31, 1995
HPB ASSOCIATES, L.P.
By: /s/ Howard P. Berkowitz
Howard P. Berkowitz,
Managing Partner
/s/ Howard P. Berkowitz
Howard P. Berkowitz
/s/ Harold Blumenstein
Harold Blumenstein
/s/ James Grosfeld
James Grosfeld
/s/ Richard Ravitch
Richard Ravitch
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13-d-1(f)(1)
The undersigned acknowledge and agree that the foregoing Amendment
No. 4 to the statement on Schedule 13D is filed on behalf of each of the
undersigned and that all subsequent amendments to this Amendment No. 4 to the
statement on Schedule 13D shall be filed on behalf of each of the undersigned
without the necessity of filing additional joint acquisition statements. The
undersigned acknowledge that each shall be responsible for the timely filing
of such amendments, and for the completeness and accuracy of the information
concerning him or it contained therein, but shall not be responsible for the
completeness or accuracy of the information concerning the other, except to
the extent that he or it knows or has reason to believe that such information
is inaccurate.
Dated: August 31, 1995
HPB ASSOCIATES, L.P.
By: /s/ Howard P. Berkowitz
----------------------------
Howard P. Berkowitz,
Managing Partner
/s/ Howard P. Berkowitz
---------------------------
Howard P. Berkowitz
/s/ Richard Ravitch
---------------------------
Richard Ravitch
/s/ Harold Blumenstein
---------------------------
Harold Blumenstein
/s/ James Grosfeld
---------------------------
James Grosfeld
