U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
TriPoint Global Communications Inc.
565 Fifth Avenue, 17th Floor
New York, NY 10017
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2. Date of Event Requiring Statement (Month/Day/Year)
11/11/99
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
56-1871899
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4. Issuer Name and Ticker or Trading Symbol
Vertex Communications Corporation (VTX)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [x] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[ ] Form Filed by One Reporting Person
[x] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
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<S> <C> <C> <C>
Common Stock, par value $.10 per share See Explanation of I See Explanation of Responses on
Responses on attached page.
attached page.
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Form 3-07/99)
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
<PAGE>
Name and Address of Reporting Person:
TriPoint Global Communications Inc.
565 Fifth Avenue, 17th Floor
New York, NY 10017
Additional Reporting Persons:
Signal Acquisition Corporation
565 Fifth Avenue, 17th Floor
New York, NY 10017
Relationship to Issuer: 10% Owner
Thyssen-Bornemisza Continuity Trust
Clarendon House, Church Street
Hamilton, Bermuda
Relationship to Issuer: 10% Owner
Date of Event Requiring Statement: November 11, 1999
Issuer Name and Ticker or Trading Symbol: Vertex Communications
Corporation (VTX)
Explanation of Responses
On November 11, 1999, TriPoint Global Communications Inc.
("Parent") and Signal Acquisition Corporation (the "Purchaser"), a
wholly owned subsidiary of Parent, entered into a Company Shareholder
Agreement (the "Shareholder Agreement") with certain shareholders of
Vertex Communications Corporation (the "Company") (collectively the
"Principal Shareholders"), pursuant to which each Principal
Shareholder has agreed, among other things, to accept the Offer (as
defined in the Offer to Purchase referred to below) with respect to
all the shares of Common Stock, par value $0.10 per share, of the
Company ("Shares") that he owns, together with Shares such Principal
Shareholder has the right to acquire upon the exercise of Company
stock options, and to tender such Shares pursuant to the Offer. In
addition, each Principal Shareholder has granted the Purchaser an
option to purchase all his Shares at a price equal to the Offer Price
in the event that such Principal Shareholder fails to tender such
Shares pursuant to the Offer, or withdraws such Shares prior to
expiration of the Offer. The Principal Shareholders, in the aggregate,
own 447,513 Shares and have options to purchase an additional 258,400
Shares. Under the Shareholder Agreement, each Principal Shareholder
has granted to certain individuals designated by Parent an irrevocable
proxy with respect to the Shares subject to the Shareholder Agreement
to vote such Shares in a manner consistent with the Shareholder
Agreement. In addition, Thyssen-Bornemisza Continuity Trust, through
its subsidiaries Thybo Gamma Ltd. and Vulcan Securities Limited, both
Bermuda corporations, beneficially owns 157,100 shares, none of which
were acquired during the past 60 days.
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<PAGE>
Name and Address of Reporting Person:
TriPoint Global Communications Inc.
565 Fifth Avenue, 17th Floor
New York, NY 10017
Additional Reporting Persons:
Signal Acquisition Corporation
565 Fifth Avenue, 17th Floor
New York, NY 10017
Relationship to Issuer: 10% Owner
Thyssen-Bornemisza Continuity Trust
Clarendon House, Church Street
Hamilton, Bermuda
Relationship to Issuer: 10% Owner
Date of Event Requiring Statement: November 11, 1999
Issuer Name and Ticker or Trading Symbol: Vertex Communications
Corporation (VTX)
/s/ Jack Haegele 12/7/99
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**Signature of Reporting Person Date
TriPoint Global Communications Inc.
Name: Jack Haegele
Title: Chief Executive Officer
/s/ Jack Haegele 12/7/99
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**Signature of Reporting Person Date
Signal Acquisition Corporation
Name: Jack Haegele
Title: Chief Executive Officer
/s/ Frank Mutch 12/7/99
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**Signature of Reporting Person Date
Thyssen-Bornemisza Continuity Trust
by Thybo Trustees Limited
(as Trustee of the Thyssen-Bornemisza Continuity
Trust)
Name: Frank Mutch
Title: Director
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space is insufficient, See Instruction 6 for
procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.
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