<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
PMC INTERNATIONAL, INC. .
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 PAR VALUE
- -------------------------------------------------------------------------------
(Title of Class of Securities)
693437303
---------------------
(CUSIP Number)
Copy to: Stephen A. Cohen, Esq.
Wheatley Partners, L.P. Morrison Cohen Singer & Weinstein, LLP
80 Cuttermill Road, Suite 311 750 Lexington Avenue
Great Neck, New York 11021 New York, New York 10022
Telephone (516) 773-1024 Telephone (212) 735-8600
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
DECEMBER 23, 1996
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing 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 space __.
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Wheatley Partners, L.P.
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
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6 Citizenship or Place of Organization Delaware
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7 Sole Voting Power
886,000 shares 6.1%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 55,000 shares 0.4%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 886,000 shares 6.1%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
55,000 shares 0.4%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person* PN
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-2 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
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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
- -------------------------------------------------------------------------------
4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 6.5%
- -------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
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-3 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
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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 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
-4 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- -------------------------------------------------------------------------------
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 Source of Funds* WC
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
- -------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
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-5 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Wheatley Partners LLC
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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
- -------------------------------------------------------------------------------
4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
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7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person*
OO
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-6 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seth Lieber
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds* WC
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person*
IN
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-7 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jonathan Lieber
- -------------------------------------------------------------------------------
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 Source of Funds*
WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
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6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person*
IN
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-8 of 22-
<PAGE>
CUSIP
No. 693437303 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Matthew A. Smith
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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 Source of Funds*
WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
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6 Citizenship or Place of Organization United States
- -------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person*
IN
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-9 of 22-
<PAGE>
CUSIP
No. 693437303 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Wheatley Management Ltd.
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2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- -------------------------------------------------------------------------------
3 SEC Use Only
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4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization Cayman Islands, B.W.I.
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7 Sole Voting Power
0 shares 0%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 941,000 shares 6.5%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
941,000 shares 6.5%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
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14 Type of Reporting Person* OO
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-10 of 22-
<PAGE>
CUSIP
No. 693437303 13D
- -------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Wheatley Foreign Partners, L.P.
- -------------------------------------------------------------------------------
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 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required / /
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6 Citizenship or Place of Organization Delaware
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7 Sole Voting Power
55,000 shares 0.4%
Number of ---------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 886,000 shares 6.1%
Owned By ---------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 55,000 shares 0.4%
Person ---------------------------------------------------------------
With 10 Shared Dispositive Power
886,000 shares 6.1%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
941,000 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* / /
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
6.5%
- -------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
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-11 of 22-
<PAGE>
This statement, dated December 23rd, 1996, relates to the reporting persons'
ownership of common stock of PMC International, Inc. (the "Issuer").
ITEM 1. SECURITY AND ISSUER
Common Stock, $0.01 par value per share ("Common Stock"),
(CUSIP No. 693437303)
PMC International, Inc.
555 17th Street, 14th Floor
Denver, Colorado 80202
ITEM 2. IDENTITY AND BACKGROUND
1. (a) WHEATLEY PARTNERS, L.P., a limited partnership organized under
the laws of the State of Delaware ("Wheatley").
(b) Address: c/o Wheatley Partners LLC
80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Business: Investments
(d) No.
(e) No.
Wheatley Partners LLC is the general partner of Wheatley. The limited
partners of Wheatley include certain other investors.
2. (a) BARRY RUBENSTEIN, a member and Chief Executive Officer of Wheatley
Partners LLC, the general partner of Wheatley and a general partner of Wheatley
Foreign Partners, L.P.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: General partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States
-12 of 22-
<PAGE>
3. (a) IRWIN LIEBER, a member and President, Secretary and Treasurer of
Wheatley Partners LLC, the general partner of Wheatley and a general partner of
Wheatley Foreign Partners L.P., and President and a Director of Wheatley
Management Ltd., a general partner of Wheatley Foreign Partners, L.P.
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Occupation: Investment adviser.
(d) No.
(e) No.
(f) Citizenship: United States
4. (a) BARRY FINGERHUT, a member and Executive Vice President of
Wheatley Partners LLC, the general partner of Wheatley and a general partner of
Wheatley Foreign Partners, L.P.
.
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Occupation: Investment adviser.
(d) No.
(e) No.
(f) Citizenship: United States
5. (a) WHEATLEY PARTNERS LLC, a limited liability company organized
under the laws of the State of Delaware ("Wheatley LLC").
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Business: Investments
(d) No.
(e) No.
Wheatley LLC is the general partner of Wheatley, and also a general
partner of Wheatley Foreign Partners, L.P.
6. (a) SETH LIEBER, a member and a Vice President of Wheatley LLC, the
general partner of Wheatley and a general partner of Wheatley Foreign Partners,
L.P.
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
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<PAGE>
(c) Principal Occupation: Investments
(d) No.
(e) No.
(f) Citizenship: United States
7. (a) JONATHAN LIEBER, a member and a Vice President of Wheatley LLC,
the general partner of Wheatley and a general partner of Wheatley Foreign
Partners, L.P.
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Occupation: Investments.
(d) No.
(e) No.
(f) Citizenship: United States
8. (a) MATTHEW A. SMITH, a member and a Vice President of Wheatley LLC,
the general partner of Wheatley and a general partner of Wheatley Foreign
Partners, L.P.
(b) Address: 80 Cuttermill Road, Suite 311
Great Neck, New York 11021
(c) Principal Occupation: Investments
(d) No.
(e) No.
(f) Citizenship: United States
9. (a) WHEATLEY FOREIGN PARTNERS, L.P., a limited partnership organized
under the laws of Delaware ("Wheatley Foreign").
(b) Address: Third Floor
One Capital Place
P.O. Box 1062
George Town, Grand Cayman
Cayman Islands, B.W.I.
(c) Principal Business: Investments.
(d) No.
(e) No.
The general partners of Wheatley Foreign are Wheatley LLC, and
Wheatley Management Ltd.
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<PAGE>
10. (a) WHEATLEY MANAGEMENT LTD., a company incorporated in the Cayman
Islands ("Wheatley Management").
(b) Address: Third Floor
One Capital Place
P.O. Box 1062
George Town, Grand Cayman
Cayman Islands, B.W.I.
(c) Principal Business: Investments.
(d) No.
(e) No.
Wheatley Management is a general partner of Wheatley Foreign.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On December 23, 1996, Wheatley and Wheatley Foreign purchased 886,000
and 55,000 shares of the Issuer's Common Stock, in a private placement (the
"Private Placement"). Wheatley and Wheatley Foreign obtained funds for the
purchases of the Common Stock from their working capital and other funds.
The amount of funds used in making the purchases of the Common Stock
is set forth below:
NAME AMOUNT OF CONSIDERATION
Wheatley Partners, L.P. $1,882,750
Wheatley Foreign Partners, LP 116,875
ITEM 4. PURPOSE OF THE TRANSACTION.
The reporting persons acquired their shares for purposes of
investment. The reporting persons do not have any plans or proposals which
relate to or would result in any of the actions set forth in subparagraphs (a)
through (j) of Item 4 of Schedule 13D.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(a) The following list sets forth the aggregate number and percentage
(based on 14,470,756 shares of Common Stock outstanding as reported by a
representative of the Issuer as of
-15 of 22-
<PAGE>
December 24, 1996) of outstanding shares of Common Stock owned beneficially
by each person named in Item 2, as of December 24, 1996:
Shares of Percentage of Shares of
Common Stock Common Stock
Name Beneficially Owned Beneficially Owned
---- ------------------ -----------------------
Wheatley Partners, L.P.(1) 941,000 6.5%
Barry Rubenstein(2) 941,000 6.5%
Irwin Lieber(2) 941,000 6.5%
Barry Fingerhut(2) 941,000 6.5%
Wheatley Partners LLC(2) 941,000 6.5%
Seth Lieber(2) 941,000 6.5%
Jonathan Lieber(2) 941,000 6.5%
Matthew A. Smith(2) 941,000 6.5%
Wheatley Management Ltd.(2) 941,000 6.5%
Wheatley Foreign Partners, L.P.(3) 941,000 6.5%
(b) Wheatley has sole power to vote and dispose of 886,000 shares of
Common Stock, representing approximately 6.1% of the outstanding Common Stock
and may be deemed to have shared power to vote and dispose of 55,000 shares of
Common Stock representing approximately 0.4% of the outstanding Common Stock.
By virtue of being a member and an officer of Wheatley LLC, Barry
Rubenstein may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
By virtue of being a member and an officer of Wheatley LLC, Irwin
Lieber may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
By virtue of being a member and an officer of Wheatley LLC, Barry
Fingerhut may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
_______________________________
1 Includes 886,000 shares of Common Stock owned by Wheatley. Wheatley
disclaims beneficial ownership of 55,000 shares of Common Stock owned
by Wheatley Foreign.
2 The reporting person disclaims beneficial ownership of these
securities except to the extent of his or its equity ownership
therein.
3 Includes 55,000 shares of Common Stock owned by Wheatley Foreign.
Wheatley Foreign disclaims beneficial ownership of 886,000 Shares
of Common Stock owned by Wheatley.
-16 of 22-
<PAGE>
By virtue of being the general partner of Wheatley and Wheatley
Foreign, Wheatley LLC may be deemed to have shared power to vote and dispose
of 941,000 shares of Common Stock, representing approximately 6.5% of the
outstanding Common Stock.
By virtue of being a member and an officer of Wheatley LLC, Seth
Lieber may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
By virtue of being a member and an officer of Wheatley LLC, Jonathan
Lieber may be deemed to have shared power to vote and dispose of 941,000 shares
of Common Stock, representing approximately 6.5% of the outstanding Common
Stock.
By virtue of being a member and an officer of Wheatley LLC, Matthew A.
Smith may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
Wheatley Foreign has sole power to vote and dispose of 55,000 shares
of Common Stock representing approximately 0.4% of the outstanding Common Stock
and may be deemed to have shared power to vote and dispose of 886,000 shares of
Common Stock, representing approximately 6.1% of the outstanding Common Stock.
By virtue of being a general partner of Wheatley Foreign, Wheatley
Management may be deemed to have shared power to vote and dispose of 941,000
shares of Common Stock, representing approximately 6.5% of the outstanding
Common Stock.
(c) The following is a description of all transactions in shares of
Common Stock of the Issuer by the persons identified in Item 2 of this
Schedule 13D effected from October 23, 1996 through December 23, 1996,
inclusive.
Name of Purchase or Number of Shares Purchase or
Shareholder Sale Date Purchased or (Sold) Sale Price
----------- ----------- ------------------- ------------
Wheatley Partners, L.P. 12/23/96 886,000 $2.125
Wheatley Foreign
Partners, L.P. 12/23/96 55,000 $2.125
Wheatley and Wheatley Foreign acquired the shares of Common Stock from the
Issuer in the Private Placement.
-17 of 22-
<PAGE>
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
(a) Wheatley and Wheatley Foreign have entered into a co-investment
agreement (the "Co-investment Agreement") dated as of June 25, 1996 pursuant to
which Wheatley and Wheatley Foreign have agreed to act as co-investors with
respect to the purchases of securities of certain companies.
(b) The Issuer has agreed within 45 days after the closing of the Private
Placement to file a shelf registration statement covering the securities and
all other shares of common stock that the Issuer may elect to register on
behalf of others. The Issuer has agreed to use its best efforts to keep the
registration continuously effective for the period ending on the earlier to
occur of: (i) the date when the securities have been disposed of under an
effective registration statement; (ii) the securities are distributed to the
public pursuant to Rule 144; (iii) the securities shall have been transferred
and subsequent disposition of them shall not require registration; or (iv) the
securities are no longer outstanding.
(c) Except for the circumstances discussed or referred to in paragraphs
(a) and (b) above, there are no contracts, arrangements, understandings, or
relationships with respect to the securities of the Issuer among any of the
persons reporting in this Schedule.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
. EXHIBIT A - Agreement dated December 24, 1996 among the reporting
persons by which they have agreed to file this Schedule 13D and all necessary
amendments, as required by rule 13d-1(f).
-18 of 22-
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
statement is true, correct and complete.
Date: December 24, 1996.
WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC, General Partner
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Chief Executive Officer
WHEATLEY PARTNERS LLC
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Chief Executive Officer
/s/ Barry Rubenstein
---------------------------------------------
Barry Rubenstein, Individually
/s/ Irwin Lieber
---------------------------------------------
Irwin Lieber, Individually
/s/ Barry Fingerhut
---------------------------------------------
Barry Fingerhut, Individually
/s/ Seth Lieber
---------------------------------------------
Seth Lieber, Individually
/s/ Jonathan Lieber
---------------------------------------------
Jonathan Lieber, Individually
/s/ Matthew A. Smith
---------------------------------------------
Matthew A. Smith, Individually
-19 of 22-
<PAGE>
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
-----------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC, General Partner
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Chief Executive Officer
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-20 of 22-
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act, as
amended, the undersigned hereby agree to the joint filing on behalf of each
of them on a statement on Schedule 13D (including amendments thereto) with
respect to the Common Stock, par value $0.01 per share, of PMC International,
Inc. and that this agreement be included as an Exhibit to such joint filing.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this
24th day of December, 1996.
WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC, General Partner
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Chief Executive Officer
WHEATLEY PARTNERS LLC
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Chief Executive Officer
/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein
/s/ Irwin Lieber
-----------------------------------------
Irwin Lieber
/s/ Barry Fingerhut
-----------------------------------------
Barry Fingerhut
/s/ Seth Lieber
-----------------------------------------
Seth Lieber
/s/ Jonathan Lieber
-----------------------------------------
Jonathan Lieber
/s/ Matthew A. Smith
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Matthew A. Smith
<PAGE>
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
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Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC, General Partner
By: /s/ Barry Rubenstein
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Barry Rubenstein, Chief Executive Officer
