SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 22)*
AEP Industries, Inc.
(Name of Issuer)
Common
(Title of Class of Securities)
001031103
(CUSIP Number)
William Ehrman
EGS Partners, L.L.C., 350 Park Ave., 11th Fl.,
New York, NY 10022 212-755-9000
(Name, address and telephone number of person
authorized to receive notices and communications)
June 24, 1998
(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.)
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 the disclosures provided in a prior cover
page.
The information required in the remainder of this cover page shall
not be deemed to be "filed" for purposes 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).
PAGE 1 of 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Associates, L.P.
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(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
-0-
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
224,697
OWNED BY -------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING
- ----------------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
224,697
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
224,697
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
3.09%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 2 OF 20 PAGE
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Partners, L.L.C.
- -----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(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
Delaware
- ------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
530,271
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING -------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
532,299
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
532,299
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
7.32%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IA
- ------------------------------------------------------------------------
- -----------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 3 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Bev Partners, L.P.
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(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
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
82,641
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
82,641
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
82,641
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.14%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ------------------------------------------------------------------------
- -----------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 4 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Partners, L.P.
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(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
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
20,383
OWNED BY -----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING -------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
20,383
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
20,383
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.28%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- ------------------------------------------------------------------------
- ------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 5 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William Ehrman
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF PF 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
47,056
SHARES -------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
47,056
REPORTING ---------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
899,943
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
946,999
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
13.03%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 20 PAGE
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederic Greenberg
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF PF 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
5,902
SHARES ---------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
5,902
REPORTING ---------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
866,723
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
866,723
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.93%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 7 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederick Ketcher
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF PF 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
5,802
SHARES ---------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
5,802
REPORTING ---------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
860,021
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
865,823
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.91%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 8 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Gerstl
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF 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
-0-
SHARES ---------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ---------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
860,021
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
860,021
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.83%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 9 OF 20 PAGE
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
James McLaren
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF 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
1,000
SHARES ---------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,000
REPORTING ---------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
860,021
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
861,021
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.85%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 10 OF 20 PAGES
13D
CUSIP No. 001031103
- ------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William D. Lautman
- ------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
AF 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
-0-
SHARES ---------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
857,993
OWNED BY ---------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING
- ------------------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
860,021
- ------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
860,021
- ------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- ------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.83%
- ------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- ------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 11 OF 20 PAGES
The Schedule 13D, initially filed on March 30, 1990, as amended, of
(i) EGS Associates, L.P., a Delaware limited partnership ("EGS
Associates"), (ii) EGS Partners, L.L.C., a Delaware limited liability
company ("EGS Partners"), (iii) Bev Partners, L.P., a Delaware limited
partnership ("Bev Partners"), (iv) Jonas Partners, L.P., a Delaware
limited partnership ("Jonas Partners"), (v) William Ehrman, (vi)
Frederic Greenberg, (vii) Frederick Ketcher, and (viii) Jonas Gerstl and
(ix) James McLaren, relating to the common stock, $0.01 par value per
share (the "Common Stock") issued by AEP Industries, Inc. (the
"Company"), is hereby amended by this Amendment No. 22 to the Schedule
13D as follows:
Item 2 is hereby amended as follows:
ITEM 2. IDENTITY AND BACKGROUND.
The address of the principal business and principal office of (i)
EGS Associates, EGS Partners, BEV Partners, Jonas Partners and each of
the General Partners is 350 Park Avenue, 11th Floor, New York, New York
10022 and (ii) EGS Overseas is CITCO Building, Wickhams Cay, P.O. Box
662, Road Town, Tortola, British Virgin Islands.
Item 3 is hereby amended and restated in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by EGS Associates, EGS
Partners (exclusive of shares beneficially owned by EGS Overseas), EGS
Overseas, BEV Partners and Jonas Partners is approximately $3,594,727,
$13,490,458, $3,142, $822,429 and $318,071, respectively.
The net investment cost (excluding commissions, if any) of the
shares of Common Stock owned directly by Mr. Greenberg, and by members
of his immediate family, is approximately $60,011.
The net investment cost (excluding commissions, if any) of the
shares of Common Stock owned directly by Mr. Ehrman and his immediate
family (including his brother and his brother's wife), is approximately
$1,505,448.
The net investment cost (excluding commissions, if any) of the
shares of Common Stock owned directly by Mr. Ketcher, is approximately
$44,130.
The shares of Common Stock purchased by EGS Associates, Bev
Partners and Jonas Partners were purchased with their investment capital
(see Item 5(v)), and the shares of Common Stock purchased by EGS
Partners were purchased with investment capital of the respective
discretionary accounts under management of EGS Partners (the "Managed
Accounts"). The shares of Common Stock purchased by Mr. Ehrman were
purchased with personal funds, trust funds, or the funds of members of
his immediate family.
PAGE 12 OF 20 PAGES
The shares of Common Stock beneficially owned by EGS Associates,
EGS Partners (excluding EGS Overseas), EGS Overseas, Bev Partners and
Jonas
Partners are held in their respective commingled margin accounts, or in
the case of EGS Partners, in margin and non-margin accounts held by
each discretionary account under its management. Such margin accounts
are maintained at NationsBanc Montgomery Securities, and may from time
to time have debit balances. Non-margin accounts are maintained at
Bankers Trust Company. Since other securities are held in such margin
accounts, it is not possible to determine the amounts, if any, of margin
used with respect to the shares of Common Stock purchased. The shares
owned by Mr. Greenberg are held in his IRA account maintained at
NationsBanc Montgomery Securities and in margin accounts maintained at
Goldman, Sachs & Co., or are beneficially owned by members of his
immediate family. The shares owned by Mr. Ketcher are held in his
various accounts maintained at NationsBanc Montgomery Securities. The
shares owned by Mr. Ehrman are held in accounts maintained at
NationsBanc Montgomery Securities, or are beneficially owned by members
of his immediate family (including his brother and his brother's wife).
Currently, the interest rate charged on such various margin accounts is
approximately 7.75% per annum.
Item 4 is hereby amended and restated in its entirety as follows:
ITEM 4: PURPOSE OF THE TRANSACTION.
The Reporting Persons acquired the Common Stock for investment
purposes, and the Reporting Persons intend to continue to evaluate the
performance of such Common Stock as an investment in the ordinary course
of their business. The Reporting Persons believe that the Company is
selling at a significant discount to its enterprise value and should
explore ways to maximize shareholder value. Accordingly, one or more of
the Reporting Persons may participate in interviews or hold discussions
with third parties or with management and board members in which the
Reporting Person may suggest or take a position with respect to various
potential means of enhancing shareholder value. Such suggestions or
positions may relate to one or more of the transactions specified in
clauses (a) through (j) of Item 4 of the Schedule 13D form, including,
without limitation, such matters as entering into a relationship with a
strategic partner, disposing of one or more businesses, selling the
Company or acquiring another company or restructuring the Company's
capitalization. In addition, the Reporting Persons may suggest and seek
an increase in the independent representation (directors independent of
management and/or controlling shareholders) on the Company's board of
directors.
Each Reporting Person will continuously assess the Company's
business, financial condition, results of operations and prospects,
general economic, financial and industry conditions, the securities
markets and future trading prices in general and those for the Company's
securities in particular, other developments and other investment
opportunities. Depending on such assessments, one or more of the
Reporting Persons may acquire additional Common Stock or may determine
to sell or otherwise dispose of all or some of its holdings of Common
Stock.
PAGE 13 OF 20 PAGES
Except as set forth above, none of the Reporting Persons has any
plans or proposals which would relate to or result in any of the matters
set forth in items (a) through (j) of Item 4 of Schedule 13D.
Item 5 is hereby amended and restated in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The approximate aggregate percentage of shares of Common Stock
reported beneficially owned by each person herein is based on 7,267,424
shares outstanding, which is the total number of shares of Common Stock
outstanding as of May 29, 1998, as reflected in the company's report on
Form 10-Q filed with the Securities and Exchange Commission (the
"Commission") on April 30, 1998 (which is the most recent Form 10-Q on
file).
As of the close of business on June 26, 1998:
(i) EGS Associates owns beneficially 224,697 shares of Common
Stock, constituting approximately 3.09% of the shares outstanding.
(ii) EGS Partners owns directly no shares of Common Stock. By
reason of the provisions of Rule 13D-3 of the Securities Exchange Act of
1934, as amended (the "Act"), EGS Partners may be deemed to own
beneficially 531,885 shares (constituting approximately 7.32% of the
shares outstanding), purchased for discretionary accounts managed by it,
other than EGS Overseas, and 414 shares of Common Stock purchased for
EGS Overseas (constituting approximately .01% of the shares
outstanding), which, when aggregated, total 532,299 shares of Common
Stock, constituting approximately 7.32% of the shares outstanding.
(iii) Bev Partners owns beneficially 82,641 shares of Common
Stock, constituting approximately 1.14% of the shares outstanding.
(iv) Jonas Partners owns 20,383 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(v) Mr. Ehrman owns directly, and beneficially through
ownership by members of his immediate family (including his brother and
his brother's wife), 86,978 shares of Common Stock, constituting
approximately 1.20% of the shares outstanding.
(vi) Mr. Greenberg owns directly, and beneficially through
ownership by members of his immediate family, 6,702 shares of Common
Stock, constituting less than 1% of the shares outstanding.
(vii) Mr. Ketcher owns directly 5,802 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(viii) Mr. McLaren owns directly 1,000 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(viii) Messrs. Gerstl and Lautman own directly no shares of
Common Stock.
PAGE 14 OF 20 PAGES
By reason of the provisions of Rule 13D-3 of the Act, each of
the General Partners may be deemed to own the 224,697 shares
beneficially owned by EGS Associates, the 532,299 shares beneficially
owned by EGS Partners, the 82,641 shares beneficially owned by Bev
Partners and the 20,383 shares beneficially owned by Jonas Partners.
When the shares beneficially owned by EGS Associates, EGS Partners, Bev
Partners, and Jonas Partners are aggregated, they total 860,021 shares
of Common Stock, constituting approximately 11.83% of the shares
outstanding.
(ix) In the aggregate, the Reporting Persons beneficially own a
total of 960,502 shares of Common Stock, constituting approximately
13.22% of the shares outstanding.
(b) (i) Each of EGS Associates, EGS Partners (with
respect to shares of EGS Overseas and other discretionary accounts), Bev
Partners and Jonas Partners has the power to vote and to dispose of the
shares of Common Stock beneficially owned by it, which power may be
exercised by the General Partners. Over one such discretionary account,
however, EGS Partners does not have voting authority. Each of EGS
Overseas and the discretionary accounts is a party to an investment
management agreement with EGS Partners pursuant to which EGS Partners
has investment authority with respect to securities held in such
account.
(ii) Each Reporting Person that is an individual
has the sole power to vote and dispose of the shares owned directly by
him. Mr. Greenberg has no power to vote and shared power to dispose of
shares owned by members of his immediate family. Mr. Ehrman has no
power to vote and shared power to dispose of shares owned by members of
his immediate family (including his brother and his brother's wife).
(c) The trading dates, number of shares of Common Stock
purchased or sold and price per share for all transactions in the Common
Stock from the 60th day prior to June 24th until June 26th, 1998 by EGS
Associates, EGS Partners, (excluding EGS Overseas), Bev Partners, and
Jonas Partners are set forth in Schedules A, B, C, and D, respectively.
All such transactions were effected in the over-the-counter market.
During such period, EGS Overseas, and Messrs. Ehrman, Greenberg,
Ketcher, Gerstl, McLaren and Lautman did not enter into any transactions
in the Common Stock.
(d) No person other than each respective record owner
referred to herein of shares of Common Stock is known to have the right
to receive or the power to direct the receipt of dividends from or the
proceeds of sale of such shares of Common stock.
PAGE 15 OF 20 PAGES
SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
DATED: -------------------- /s/----------------------------------
William Ehrman, individually, as
member of EGS PARTNERS, L.L.C., and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/----------------------------------
Frederic Greenberg, individually, as
member of EGS PARTNERS, L.L.C., and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/----------------------------------
Frederick Ketcher, individually, as
member of EGS PARTNERS, L.L.C. and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/----------------------------------
Jonas Gerstl, individually, as member
of EGS PARTNERS, L.L.C., and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/-----------------------------------
James McLaren, individually, as member
of EGS PARTNERS, L.L.C., and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/-----------------------------------
William D. Lautman, individually, as
member of EGS PARTNERS, L.L.C., and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
PAGE 16 OF 20 PAGES
Schedule A
EGS Associates, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
5/26/ 983,840 27.38
5/27/98 300 27.32
5/29/98 1,000 27.77
6/1/98 1,500 26.24
6/2/98 3,200 25.11
6/2/98 1,100 24.59
6/5/98 500 24.82
6/5/98 100 25.31
6/9/98 200 25.06
6/11/98 1,300 24.20
6/12/98 500 23.07
6/12/98 200 22.56
6/15/98 889 21.93
6/15/98 300 22.13
6/16/98 1,185 21.26
6/16/98 300 22.03
6/17/98 180 21.55
6/17/98 717 21.43
6/18/98 2,200 21.08
6/18/98 400 22.26
6/19/98 700 22.42
6/19/98 1,300 22.06
6/22/98 3,000 21.81
6/22/98 300 21.56
6/23/98 1,300 21.24
6/23/98 4,200 21.05
6/24/98 16,096 20.52
6/24/98 1,280 20.25
6/25/98 12,135 20.44
PAGE 17 OF 20 PAGES
Schedule B
EGS Partners, LLC
(Excluding EGS Overseas Fund, Ltd.)
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
4/28/98 1,000 33.72
4/29/98 900 33.32
4/30/98 400 34.32
5/1/98 400 33.57
5/5/98 800 33.04
5/6/98 700 33.57
5/11/98 300 33.07
5/18/98 200 29.26
5/26/98 9,870 27.38
5/27/98 300 27.56
6/8/98 700 25.06
6/9/98 300 25.06
6/15/98 11 21.93
6/15/98 2,299 21.94
6/16/98 17 21.26
6/16/98 3,799 21.27
6/17/98 458 21.55
6/17/98 1,842 21.44
6/24/98 41,372 20.52
6/24/98 3,290 20.25
6/25/98 31,189 20.44
PAGE 18 OF 20 PAGES
Schedule C
Bev Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (excluding
Transaction Shares Purchased/(Sold) Commissions, if any)
5/26/98 1,290 27.38
6/3/98 500 24.70
6/3/98 1,147 24.47
6/4/98 600 24.88
6/15/98 301 21.93
6/16/98 499 21.26
6/17/98 62 21.55
6/17/98 241 21.43
6/24/98 5,407 20.52
6/24/98 430 20.25
6/25/98 4,076 20.44
PAGE 19 OF 20 PAGES
Schedule D
Jonas Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (excluding
Transaction Shares Purchased/(Sold) Commissions, if any)
6/17/98 3,500 21.13
6/25/98 9,000 20.44
PAGE 20 OF 20 PAGES
(..continued)
