<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
STERLING CHEMICALS HOLDINGS, INC.
----------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
-----------------------------------------
(Title of Class of Securities)
85916 E 10 3
-------------------------
(CUSIP Number)
Frank P. Diassi Thomas M. Hart III
c/o Sterling Chemicals Holdings, Inc. Andrews & Kurth L.L.P.
1200 Smith Street, Suite 1900 4200 Texas Commerce Tower
Houston, Texas 77002-4312 Houston, Texas 77002
(713) 650-3700 (713) 220-4200
---------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 10, 1997
--------------------------------
(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 [ ].
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).
<PAGE>
SCHEDULE 13/A
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 1 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank P. Diassi ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- -------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 648,644
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
648,644
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
648,644
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.16%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 2 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hunter Nelson ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
62,758
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
62,758
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
62,758
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.50%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 3 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William C. Oehmig ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 361,772
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
361,772
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
361,772
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
2.88%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 4 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank J. Hevrdejs ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
864,886
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
864,886
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
864,886
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.88%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 5 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Rheney Living Trust (Clarke Rheney or Sarah O. Rheney, Trustees)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
48,307
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
48,307
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
48,307
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.38%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 6 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper Capital Associates, Inc. 13-3706407
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,063,204
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
2,063,204
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,063,204
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
16.33%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 7 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper Capital Associates, L.P. 13-3706321
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,063,204
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
2,063,204
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,063,204
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
16.33%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 8 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper/Merchant Partners, L.P. 13-3737437
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 516,031
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
516,031
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
516,031
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.10%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 9 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper Equity Partners I, L.P. 13-3834258
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 444,537
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
444,537
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
444,537
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.53%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 10 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper/European Re, L.P. 98-0154020
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 296,328
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
296,328
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
296,328
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
2.36%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 11 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper/Merban, L.P. 98-013328
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 592,701
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
592,701
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
592,701
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.71%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 12 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper Capital Corporation 13-3706408
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 75,900
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
75,900
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
75,900
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.60%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 13 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clipper Capital Partners, L.P. 13-3706324
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 75,900
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
75,900
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
75,900
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.60%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 14 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CS First Boston Merchant Investments 1995/96, L.P. 13-3860592
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 75,900
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
75,900
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
75,900
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.60%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 15 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert B. Calhoun, Jr.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,141,104
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
2,141,104
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,141,104
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
16.95%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 16 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Koch Capital Services, Inc. (f/k/a Koch Equities, Inc.)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
1,130,716
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
1,130,716
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,130,716
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.98%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 17 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Koch Industries, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Kansas
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,130,716
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,130,176
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,130,716
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.98%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 18 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Olympus Growth Fund II, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 678,770
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
678,770
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
678,770
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.37%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 19 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OGP II, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 678,770
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
678,770
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
678,770
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.37%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 20 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Olympus Executive Fund, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 7,926
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
7,926
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
7,926
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.06%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 21 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OEF, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 7,926
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
7,926
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
7,926
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.06%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 22 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LJM, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
A CUSIP NO. 85916E103 PAGE 23 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RSM, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 24 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Conroy, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 25 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Louis J. Mischianti
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 26 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert S. Morris
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 27 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James A. Conroy
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 686,696
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
686,696
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
686,696
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 28 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FSI No. 2 Corporation 51-0373138
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 654,548
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
654,548
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
654,548
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 29 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fayez Sarofim & Co.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 654,548
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
654,548
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
654,548
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO, IA
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 85916E103 PAGE 30 OF 30 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fayez Sarofim ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- -------------------------------------------------------------------------------
SOURCE OF FUNDS
4
Not Applicable
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 654,548
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
654,548
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
654,548
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[x]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Schedule 13D/A Amendment No. 3 ("Amendment No. 3") amends the Schedule
13D (the "Original Schedule 13D"), the Schedule 13D/A Amendment No. 1
("Amendment No. 1"), and the Schedule 13D/A Amendment No. 2 ("Amendment No. 2"
and, together with the Original Schedule 13D and Amendment No. 1, the "Schedule
13D") filed jointly by the same parties filing this Amendment No. 3 with respect
to the common stock (the "Common Stock"), par value $.01 per share, of Sterling
Chemicals Holdings, Inc. ("Holdings" or the "Issuer"). Frank P. Diassi is the
designated filer filing this Amendment No. 3 on behalf of the Investors set
forth in Item 2; the designated filer for each of the previous filings was Frank
J. Hevrdejs. This Amendment No. 3 is filed as a result of the purchase of
411,740 additional shares (the "July 1997 Shares") of Common Stock and 137,071
warrants to purchase Common Stock ("Warrants") by certain of the joint filers of
the Schedule 13D in a private placement transaction which closed July 10, 1997
(the "July 1997 Private Placement") pursuant to which the Issuer sold a total of
608,334 shares of Common Stock and 201,048 Warrants. In addition, three of the
filing persons were each recently granted options ("Options") to purchase 2,000
shares of Common Stock in connection with their service on the Board of
Directors of the Issuer, which options are immediately exercisable. Any defined
terms used but not defined herein shall have the meanings previously set forth
in the Schedule 13D.
ITEM 1. SECURITY AND ISSUER
Not amended.
ITEM 2. IDENTITY AND BACKGROUND
Appendix B and Appendix C to the Schedule 13D which list the directors and
executive officers of Koch Capital Services, Inc. ("Koch Capital") and Koch
Industries, Inc. ("Koch Industries"), respectively, are amended and restated as
attached hereto. Otherwise, Item 2 is not amended.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Not amended, as the July 1997 Shares were acquired by each Investor
utilizing the same source of funds as previously described in the Schedule 13D.
ITEM 4. PURPOSE OF TRANSACTIONS
Item 4 of the Schedule 13D is hereby amended and restated to read, in its
entirety, as follows:
Although each of the Investors has acquired its shares of Common Stock for
investment purposes, by entering into the Voting Agreement, each of such
Investors has agreed to vote their shares in favor of a nominee to the Board of
Directors of Holdings selected by each of Koch Capital and the Clipper
Investors. All of the shares held by the Investors are subject to the Voting
Agreement. None of the Investors has any plans, nor has any of them made any
proposals, which relate to or would result in any of the subjects covered in
paragraphs (a) through (j) of Item 4 to Schedule 13D. However, each of the
Investors reserves the right to acquire additional shares, to dispose of shares
or to formulate other purposes, plans or proposal to the extent deemed advisable
in light of their respective investment policies, market conditions and other
factors.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended to read, in its entirety, as
follows:
Each of the Investors, pursuant to the Voting Agreement, has agreed to,
among other things, certain voting provisions with respect to the election of
directors. As a result of the Voting Agreement, the parties thereto may be
deemed to be members of a "group" within the meaning of Rule 13d-5(b)(1) under
the Securities Exchange Act of 1934, and accordingly may be deemed to have
beneficial ownership of all of the shares of Common Stock subject to the Voting
Agreement. In total, 6,599,431 shares, representing 51.90% of the Total Shares
Outstanding (as hereinafter
-31-
<PAGE>
defined), are subject to the Voting Agreement. The Total Shares Outstanding
shall amount to 12,573,505 shares of Common Stock, which includes (i) the
11,974,171 shares of Common Stock reported to be outstanding by the Issuer in
its Quarterly Report on Form 10-Q for the three months ended March 31, 1997,
less 9,000 shares now held in treasury by the Issuer, and (ii) the 608,334
shares of Common Stock subsequently sold by the Issuer pursuant to the July 1997
Private Placement. In addition, an aggregate of 137,071 Warrants were purchased
by certain of the Investors in the July 1997 Private Placement, and certain of
the Investors hold an aggregate of 6,000 Options. Each of such Warrants and
Options are currently exercisable, and are included in the following
calculations of percentages of Total Shares Outstanding as applicable pursuant
to Rule 13d-3(d)(1)(i). However, each of the Investors expressly disclaims (x)
membership in the Voting Agreement group and (y) beneficial ownership of the
shares of Common Stock subject to the Voting Agreement, other than shares
expressly identified herein as beneficially owned by such Investors. The Voting
Agreement has been filed as an exhibit to the Schedule 13D and is incorporated
herein by reference. In addition, the information contained in Item 6 of this
Schedule 13D is incorporated herein by reference.
A. The Individual Investors
(a) Frank P. Diassi and Marianne R. Diassi, as joint tenants with right of
survivorship, may each be deemed to directly beneficially own 648,644 shares of
Common Stock. Of such shares, 53,872 are July 1997 Shares. Such shares in the
aggregate constitute approximately 5.17% of the Total Shares Outstanding.
(b) Hunter Nelson may be deemed to directly beneficially own 62,758 shares
of Common Stock. Of such shares, 3,017 are July 1997 Shares, and 2,000
represent Options. Such shares in the aggregate constitute approximately 0.50%
of the Total Shares Outstanding.
(c) William C. Oehmig and Margaret W. Oehmig, as tenants in common, may
each be deemed to directly beneficially own 361,772 shares of Common Stock. Of
such shares, 18,725 are July 1997 Shares. Such shares in the aggregate
constitute approximately 2.88% of the Total Shares Outstanding.
(d) Frank J. Hevrdejs may be deemed to directly beneficially own 864,886
shares of Common Stock, including 1,990 shares owned by his wife. Of such
shares, 42,928 are July 1997 Shares, and 2,000 represent Options. Such shares in
the aggregate constitute approximately 6.88% of the Total Shares Outstanding.
B. The Trustee Investor
The Rheney Living Trust, and Susan O. Rheney and Clarke Rheney as trustees
of such trust, may each be deemed to directly beneficially own 48,307 shares of
Common Stock. Of such shares, 2,398 are July 1997 Shares. Such shares in the
aggregate constitute approximately 0.38% of the Total Shares Outstanding.
C. The Clipper Investors
(a) Clipper I may be deemed to directly beneficially own 444,537 shares of
Common Stock; Clipper II may be deemed to directly beneficially own 516,031
shares of Common Stock; Clipper III may be deemed to directly beneficially own
592,701 shares of Common Stock; Clipper IV may be deemed to directly
beneficially own 296,328 shares of Common Stock; CSFB Investments may be deemed
to directly beneficially own 75,900 shares of Common Stock; and Clipper
Associates may be deemed to directly beneficially own 3,501 shares of Common
Stock. Such amounts of shares of Common Stock include Warrants to purchase
13,605 shares with respect to Clipper I; 18,149 shares with respect to Clipper
II; 18,149 shares with respect to Clipper III; 9,089 shares with respect to
Clipper IV and 28 shares with respect to Clipper Associates. Such amounts of
shares of Common Stock include July 1997 Shares in the amounts of 3,899 shares
with respect to Clipper I; 5,171 shares with respect to Clipper II; 5,171 shares
with respect to Clipper III; 2,544 shares with respect to Clipper IV and 42
directly owned and 12,925 nominee shares with respect to
-32-
<PAGE>
Clipper Associates. In the aggregate, such 2,139,104 shares of Common Stock
deemed to be beneficially owned by the Clipper Entities constitute approximately
16.93% of the Total Shares Outstanding.
(b) By virtue of its status as the sole general partner of Clipper I
and Clipper II, and its status as sole investment general partner of Clipper
III and Clipper IV, having sole voting and dispositive power with respect to
the shares of Common Stock held by each of such partnerships, Clipper
Associates may be deemed to be, for purposes of this Schedule 13D, the indirect
beneficial owner of all of the 1,849,597 shares of Common Stock deemed to be
directly beneficially owned, in the aggregate, by Clipper I, Clipper II,
Clipper III and Clipper IV.
(c) Clipper Associates holds 210,106 shares of Common Stock as nominee
for individuals who have the right to receive, or the power to direct the
receipt of, dividends from, or the proceeds from the sale of, such securities.
The form of nominee agreement (the "Nominee Agreement") has been filed as an
exhibit to the Schedule 13D and is incorporated herein by reference. Pursuant to
the Nominee Agreements, Clipper Associates exercises sole voting and dispositive
power with respect to such shares of Common Stock.
(d) By virtue of its status as the sole general partner of Clipper
Associates, Clipper may be deemed to be, for purposes of this Schedule 13D, the
beneficial owner of all of the 2,063,204 shares of Common Stock deemed to be
directly and indirectly beneficially owned by Clipper Associates.
(e) By virtue of its exercising sole voting and dispositive power with
respect to the Shares directly beneficially owned by CSFB Investments, Clipper
Management may be deemed to be, for purposes of this Schedule 13D, the
beneficial owner of all of the 75,900 shares of Common Stock deemed to be
directly beneficially owned by CSFB Investments.
(f) By virtue of its status as the sole general partner of Clipper
Management, Clipper Capital may be deemed to be, for purposes of this Schedule
13D, the beneficial owner of all of the 75,900 shares of Common Stock deemed to
be indirectly beneficially owned by Clipper Management.
(g) By virtue of his ownership of all of the outstanding capital stock
of Clipper and his status as President and Director, Robert B. Calhoun, Jr. may
be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all
of the 2,063,204 shares of Common Stock deemed to be indirectly beneficially
owned by Clipper. In addition, by virtue of his ownership of all of the
outstanding capital stock of Clipper Capital and his status as President and
Director, Mr. Calhoun may be deemed to be, for purposes of this Schedule 13D,
the beneficial owner of all of the 75,900 shares of Common Stock indirectly
beneficially owned by Clipper Capital. Mr. Calhoun may also be deemed to
directly beneficially own 2,000 shares of Common Stock represented by Options.
D. Koch
(a) (i) Koch Capital may be deemed to directly beneficially own
1,130,716 shares of Common Stock of Holdings. Of such shares, 9,959 are July
1997 Shares and 19,031 represent Warrants. Such shares in the aggregate
constitute approximately 8.98% of the Total Shares Outstanding.
(ii) Koch Industries, by virtue of its status as the owner of 100% of
the outstanding capital stock of Koch Capital, may be deemed to be, for the
purposes of this Schedule 13D, the beneficial owner of all of the 1,130,716
shares of Common Stock deemed to be directly beneficially owned by Koch Capital.
E. Olympus
(a) (i) Olympus Growth may be deemed to directly beneficially own 678,770
shares of Common Stock of Holdings. Of such shares, 5,000 are July 1997
Shares and 58,387 represent Warrants. Such shares in the aggregate constitute
approximately 5.37% of the Total Shares Outstanding.
-33-
<PAGE>
(ii) Olympus Executive may be deemed to directly beneficially own 7,926
shares of Common Stock of Holdings. Of such shares, 623 are July 1997 Shares
and 633 represent Warrants. Such shares in the aggregate constitute
approximately 0.06% of the Total Shares Outstanding.
(iii) OGP, by virtue of its status as the sole general partner of
Olympus Growth, may be deemed to be, for purposes of this Schedule 13D, the
beneficial owner of all of the 678,770 shares of Common Stock deemed to be
directly beneficially owned by Olympus Growth.
(iv) OEF, by virtue of its status as the sole general partner of Olympus
Executive, may be deemed to be, for purposes of this Schedule 13D, the
beneficial owner of all of the 7,926 shares of Common Stock deemed to be
directly beneficially owned by Olympus Executive.
(v) Each of LJM, RSM and Conroy, by virtue of their status as general
partners of OGP and OEF, may be deemed to be, for purposes of this Schedule 13D,
the beneficial owner of all of the aggregate 686,696 shares of Common Stock
deemed to be indirectly beneficially owned by OGP and OEF.
(vi) Each of Louis J. Mischianti, Robert S. Morris and James A.
Conroy, by virtue of their status as the majority owner of LJM, RSM and Conroy,
respectively, may be deemed to be, for purposes of this Schedule 13D, the
beneficial owner of all of the aggregate 686,696 shares of Common Stock deemed
to be indirectly beneficially owned by LJM, RSM and Conroy, respectively.
F. Sarofim
(a) (i) FSI No. 2 may be deemed to directly beneficially own 654,548
shares of Common Stock of Holdings. Of such shares, 32,495 are July 1997
Shares. Such shares in the aggregate constitute approximately 5.21% of the
Total Shares Outstanding.
(ii) Fayez Sarofim & Co., by virtue of its status as the owner of 100%
of the outstanding capital stock of FSI No. 2, may be deemed to be, for the
purposes of this Schedule 13D, the beneficial owner of all of the 654,548 shares
of Common Stock deemed to be indirectly beneficially owned by FSI No. 2.
(iii) Fayez Sarofim, by virtue of his status as the owner of a majority
of the outstanding capital stock of Fayez Sarofim & Co. may be deemed to be,
for the purposes of this Schedule 13D, the beneficial owner of all of the
654,548 shares of Common Stock deemed to be indirectly beneficially owned by
Fayez Sarofim & Co.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Not amended.
ITEM 7. MATERIAL FILED AS EXHIBITS
The description of Exhibit A hereto is amended as set forth below, and the
revised Exhibit is filed herewith. Otherwise, Item 7 is not amended.
A. Amended and Restated Voting Agreement, dated as of January 22, 1997, by
and among Sterling Chemicals Holdings Inc. and the other parties listed therein.
-34-
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
FRANK P. DIASSI AND MARIANNE R.
DIASSI, JOINT TENANTS WITH RIGHT
OF SURVIVORSHIP
/s/ FRANK P. DIASSI
--------------------------------
Frank P. Diassi
/s/ MARIANNE R. DIASSI
---------------------------------
Marianne R. Diassi
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ HUNTER NELSON
---------------------------------
Hunter Nelson
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
WILLIAM C. OEHMIG AND MARGARET W.
OEHMIG, TENANTS-IN-COMMON
/s/ WILLIAM C. OEHMIG
---------------------------------
William C. Oehmig
/s/ MARGARET W. OEHMIG
---------------------------------
Margaret W. Oehmig
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ FRANK J. HEVRDEJS
---------------------------------
Frank J. Hevrdejs
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
THE RHENEY LIVING TRUST
By: Susan O. Rheney, as Trustee
/s/ SUSAN O. RHENEY
---------------------------------
Susan O. Rheney
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
CLIPPER CAPITAL ASSOCIATES, INC. CLIPPER CAPITAL CORPORATION
CLIPPER CAPITAL ASSOCIATES, L.P. CLIPPER CAPITAL PARTNERS, L.P.
By: Clipper Capital Associates, Inc. By: Clipper Capital Corporation
its General Partner its General Partner
CLIPPER EQUITY PARTNERS I, L.P. CS FIRST BOSTON MERCHANT
By: Clipper Capital Associates, L.P. INVESTMENTS 1995/96, L.P.
its General Partner By: Clipper Capital Partners, L.P.
Attorney-in-Fact
By: Clipper Capital Associates, Inc. By: Clipper Capital Corporation
its General Partner its General Partner
CLIPPER/MERCHANT PARTNERS, L.P. By: /s/ EUGENE P. LYNCH
--------------------------------
By: Clipper Capital Associates, L.P. Name: Eugene P. Lynch
its General Partner Title: Secretary and Treasurer
for all
By: Clipper Capital Associates, Inc.
its General Partner
CLIPPER/MERBAN, L.P.
By: Clipper Capital Associates, L.P.
its General Partner
By: Clipper Capital Associates, Inc.
its General Partner
CLIPPER/EUROPEAN RE, L.P.
By: Clipper Capital Associates, L.P.
its General Partner
By: Clipper Capital Associates, Inc.
its General Partner
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ ROBERT B. CALHOUN, JR.
---------------------------------
Robert B. Calhoun, Jr.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
FSI No. 2 Corporation
By: /s/ RAYE G. WHITE
-----------------------------
Name: Raye G. White
Title: Executive Vice President
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
FAYEZ SAROFIM & CO.
By: /s/ RAYE G. WHITE
-----------------------------
Name: Raye G. White
Title: Executive Vice President
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ FAYEZ SAROFIM
---------------------------------
Fayez Sarofim
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 25, 1997
KOCH CAPITAL SERVICES, INC.
By: /s/ JOHN PITTENGER
-----------------------------
Name: John Pittenger
Title: Vice President
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 25, 1997
KOCH INDUSTRIES, INC.
By: /s/ JOHN PITTENGER
----------------------------
Name: John Pittenger
Title: Vice President
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
OLYMPUS GROWTH FUND II, L.P.
By: OGP II, L.P., its General Partner
By: LJM, L.L.C.
its General Partner
By: /s/ LOUIS J. MISCHIANTI
-------------------------------
Name: Louis J. Mischianti
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
OLYMPUS EXECUTIVE FUND, L.P.
By: OEF, L.P., its General Partner
By: LJM, L.L.C.
its General Partner
By: /s/ LOUIS J. MISCHIANTI
-----------------------------
Name: Louis J. Mischianti
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
OGP II, L.P.
By: Conroy, L.L.C.
its General Partner
By: /s/ JAMES A. CONROY
----------------------------
Name: James A. Conroy
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
OEF, L.P.
By: Conroy, L.L.C.
its General Partner
By: /s/ JAMES A. CONROY
----------------------------
Name: James A. Conroy
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
LJM, L.L.C.
By: /s/ LOUIS J. MISCHIANTI
----------------------------
Name: Louis J. Mischianti
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
RSM, L.L.C.
By: /s/ ROBERT S. MORRIS
-----------------------------
Name: Robert S. Morris
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
CONROY, L.L.C.
By: /s/ JAMES A. CONROY
-----------------------------
Name: James A. Conroy
Title: Member
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ LOUIS J. MISCHIANTI
---------------------------------
Louis J. Mischianti
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ ROBERT S. MORRIS
---------------------------------
Robert S. Morris
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 28, 1997
/s/ JAMES A. CONROY
---------------------------------
James A. Conroy
<PAGE>
APPENDIX B
Directors and Executive Officers of Koch Capital Services, Inc. and their
respective positions with Koch Industries, Inc.
<TABLE>
<CAPTION>
Position with Koch Capital Position with Koch Industries
--------------------------- -----------------------------
<S> <C> <C>
Paul W. Brooks President and Director Senior VP - Capital Services Group
John C. Pittenger Vice President and Director Vice President - Capital Services Group
John H. Bomgardner Vice President and Assistant Secretary Associate General Counsel
H. Allan Caldwell Secretary Associate General Counsel
Diana Kidd Treasurer Treasurer, Koch Capital Services, Inc.
LaVonne E. Harris Controller Controller, Koch Capital Services, Inc.
William W. Hanna Director President and COO
C.J. Nelson Director Vice President - International
</TABLE>
Each of the foregoing persons is a citizen of the United States. The
principal business address of each of such persons is 4111 E. 37th Street North,
Wichita, Kansas 67220. The present principal occupation or employment of each
such persons is the position each holds with Koch Industries, Inc. listed in the
far right-hand column above.
<PAGE>
APPENDIX C
DIRECTORS AND OFFICERS OF KOCH INDUSTRIES, INC.
Charles G. Koch Chairman of the Board of Directors and CEO
William W. Hanna President, COO and Director
F. Lynn Markel Executive VP - Finance and Administration,
Treasurer and Director
B.R. Caffey Executive VP - Operations and Director
Donald L. Cordes Executive VP, Special Counselor and Director
R.H. Fink Executive VP and Director
David H. Koch Executive VP - Chemical Technology Group and Director
Joseph W. Moeller Executive VP - International and Director
Lawrence R. Purtell Senior VP, General Counsel and Secretary
David Dishman Controller
C.C. McCambell Director
E. Pierce Marshall Director
S.V. Varner Director
Each of the foregoing persons is a citizen of the United States. The
principal business address of each of such persons, except for Mr. Marshall, is
4111 East 37th Street North, Wichita, Kansas 67220, and the present principal
occupation or employment of each such person, except for Mr. Marshall, is as
listed above. Mr. Marshall's principal occupation or employment is as the
president emeritus of Marshall Petroleum, Inc.; his principal business address
is 7600 West Tidwell, Suite 800, Houston, Texas 77040.
<PAGE>
EXHIBIT A
AMENDED AND RESTATED VOTING AGREEMENT
THIS AMENDED AND RESTATED VOTING AGREEMENT (the "Agreement") is
entered into as of January 22, 1997, by and among the stockholders named on the
signature pages hereto (each a "Stockholder" and, collectively, the
"Stockholders") and Sterling Chemicals Holdings, Inc. (the "Company").
WHEREAS, the Stockholders are beneficial owners of common stock, par
value $.01 per share, of the Company ("Common Stock");
WHEREAS, the Stockholders and the Company (formerly named Sterling
Chemicals, Inc. and successor-in-interest to STX Acquisition Corp.) heretofore
entered into a Voting Agreement dated as of August 12, 1996 (the "Original
Voting Agreement"); and
WHEREAS, the parties hereto desire to amend the Original Voting
Agreement in certain respects and to restate the Original Voting Agreement, as
so amended, in its entirety.
NOW, THEREFORE, the parties hereto, in consideration of the mutual
covenants and agreements herein contained, and intending to be legally bound
hereby, covenant and agree as follows:
ARTICLE I
Definitions and Interpretation
------------------------------
1.1. Definitions. As used in this Agreement, the following terms
shall have the meanings provided below:
"Annual Clipper Designation" has the meaning specified in Section 3.2.
"Annual Koch Designation" has the meaning specified in Section 4.2.
"Annual Meeting" means an annual meeting of the stockholders of the
Company.
"Board" means the board of directors of the Company.
"Clipper Designee" means a person designated as a nominee for election
to the Board pursuant to Article III.
"Clipper Director" means a director of the Company designated by the
Clipper Representative pursuant to Article III.
<PAGE>
"Clipper Investors" means (i) Clipper Capital Associates, L.P., (ii)
Clipper Equity Partners I, L.P., (iii) Clipper/Merchant Partners, L.P.,
(iv) Clipper/European Re, L.P., Clipper/Merban, L.P., (v) CS First Boston
Merchant Investments 1995/96, L.P., (vi) certain accredited investors who
enter into agreements with Clipper Capital Associates, L.P. under which
such partnership acts as a nominee with respect to Common Stock purchased
on behalf of such investors and who are identified as Clipper Investors by
written notice given by Clipper Capital Associates, L.P. to the Company and
(vii) those employees of CS First Boston Corporation who enter into
subscription agreements with the Company and who are indentified as Clipper
Investors by written notice given by Clipper Capital Associates, L.P. to
the Company.
"Clipper Observer" has the meaning specified in Section 3.6.
"Clipper Representative" means Clipper Equity Partners I, L.P. so
long as it holds Common Stock and thereafter means all the remaining
Clipper Investors.
"Koch" means Koch Capital Services, Inc.
"Koch Designee" means a person designated for election to the Board
pursuant to Article IV.
"Koch Director" means a director of the Company designated by Koch
pursuant to Article IV.
"Voting Stock" means Common Stock and any other class of capital stock
of the Company entitled to vote generally in an election of directors.
1.2. Interpretation. (a) In this Agreement, unless a contrary
intention appears:
(i) the singular number includes the plural number and vice versa;
(ii) reference to any gender includes each other gender;
(iii) the words "herein," hereof" and "hereunder" and other words of
similar import refer to this Agreement as a whole and not to any particular
Article, Section or other subdivision;
(iv) reference to any person or entity includes such person's or
entity's successors and assigns but, if applicable, only if such successors
and assigns are permitted by this Agreement, and reference to a person or
entity in a particular capacity excludes such person or entity in any other
capacity or individually;
-2-
<PAGE>
(v) reference to any agreement, document or instrument means such
agreement, document or instrument as amended, supplemented or modified and
in effect from time to time in accordance with the terms thereof; and
(vi) reference to any Article or Section means such Article or
Section hereof.
(b) The Article and Section headings herein are for convenience only
and shall not affect the construction hereof.
(c) This Agreement shall be deemed drafted jointly by all the
parties hereto and shall not be specifically construed against any party hereto
based on any claim that such party or its legal counsel drafted such provision.
ARTICLE II
Size of Board
-------------
The parties hereto acknowledge and agree that, so long as the Clipper
Representative shall be entitled to designate a director nominee in accordance
with Article III or Koch shall be entitled to designate a director nominee in
accordance with Article IV, the Board shall at all times consist of at least
seven directors.
ARTICLE III
The Clipper Director and Observer
---------------------------------
3.1. General. The Clipper Representative shall be entitled to
designate one individual as a director nominee to serve on the Board. Such
designation shall be made annually as provided in Section 3.2 or at other times
as provided in Section 3.3. The parties hereto acknowledge that Robert B.
Calhoun has heretofore been designated and elected as the initial Clipper
Director. The Clipper Director shall serve on the Board until a successor
director shall be duly elected and qualified or until his earlier death, removal
or resignation.
3.2. Annual Clipper Designations. The Company shall, no later than 45
days prior to the mailing of any proxy statement with respect to an Annual
Meeting, notify the Clipper Representative of the date of such mailing. As soon
as practicable after receipt of such notice but in any event no later than 20
days prior to the mailing date specified therein, the Clipper Representative
shall provide the Company a written instrument ("Annual Clipper Designation")
designating either the incumbent Clipper Director or a person other than the
incumbent Clipper Director, in which event the Annual Clipper Designation shall
include such other person's name, age, principal occupation, business address
and telephone number and residence address and telephone number. The Annual
Clipper Designation shall also include or be accompanied by (i) all information
relating to the person designated therein that is required to be disclosed in
the proxy statement pursuant to applicable regulations of the Securities and
Exchange Commission, (ii) such person's consent to being named in the proxy
statement as a nominee and (iii) a statement of such
-3-
<PAGE>
person's intention to serve as a director if elected to the Board. The Company
shall nominate for election at such Annual Meeting the person designated in the
Annual Clipper Designation. Subject to applicable laws, the Company shall take
all other actions reasonably necessary to cause the Clipper Designee to be
elected to the Board. Each Stockholder agrees to vote (or caused to be voted)
the Voting Stock owned by it in favor of the Clipper Designee and to take any
other necessary or desirable action in its capacity as a stockholder of the
Company to cause the Clipper Designee to be elected to the Board.
3.3. Interim Clipper Designations. In case a vacancy shall occur on
the Board because of the death, resignation or removal of the Clipper Director,
the Clipper Representative may elect either (i) to have such vacancy filled at
the next Annual Meeting pursuant to a designation made in accordance with
Section 3.2 or (ii) to have such vacancy filled prior to such Annual Meeting by
a majority of the directors remaining in office. If the Clipper Representative
wishes to make the election provided for in clause (ii) above, it shall
designate a successor director nominee by written notice given to the Company
and each of the other Stockholders (the "Interim Clipper Designation"). Subject
to applicable laws, the Company shall recommend that the remaining directors
elect the Clipper Designee and shall take all other actions reasonably necessary
to cause the Clipper Designee to be elected to the Board. Each Stockholder
agrees to vote (or cause to be voted) the Voting Stock owned by it in favor of
the Clipper Designee and to take any other necessary or desirable action in its
capacity as a stockholder of the Company to cause the Clipper Designee to be
elected to the Board. Without limitation of the foregoing, Koch agrees to cause
the Koch Director to vote in favor of the Clipper Designee and each Stockholder
who is a member of the Board agrees, subject to his fiduciary duties, to vote in
favor of the Clipper Designee.
(b) In the event Clipper shall make an Interim Clipper Designation in
accordance with paragraph (a) above in order to fill the vacancy created by the
death, resignation or removal of the Clipper Director and in the event a
majority of the directors remaining in office shall fail or refuse to appoint
the Clipper Designee to fill such vacancy within 30 days after receipt by the
Company of such Interim Clipper Designation, then the Company agrees, if
requested by Clipper to do so, to call a special meeting of the stockholders of
the Company for the purpose of voting upon a proposal to elect the Clipper
Designee to the Board; provided, however, that in no event shall the Company be
required to call a special meeting of the stockholders if the Company has given
a formal notice of the next Annual Meeting.
3.4. Failure of Clipper to Designate. If the Clipper Representative
shall fail or refuse to designate a nominee for director pursuant to Section 3.2
or 3.3, such directorship shall remain vacant unless and until such designation
shall be made as provided in this Article III; provided, however, that if such
vacancy results in less than the minimum number of directors required by law or
by the charter or bylaws of the Company as then in effect, such vacancy shall be
filled by an individual elected by a majority of the directors then serving.
3.5. Removal of Clipper Director. The Clipper Representative shall
have the exclusive right (except as otherwise provided by applicable law or the
Company's charter) to remove
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<PAGE>
or replace the Clipper Director. If the Clipper Representative desires to remove
the Clipper Director, it shall give written notice of such desire to the Company
and the other Stockholders who shall thereupon become obligated to vote all
Voting Stock owned by them in favor of the removal of the Clipper Director. No
Stockholder (other than the Clipper Investors) shall vote any of the securities
of the Company owned by it or take any other action in its capacity as a
stockholder of the Company for the removal of the Clipper Director without the
prior written approval of the Clipper Representative.
3.6. The Clipper Observer. The Clipper Representative shall have the
right, exercisable by written notice to the Company, to designate from time to
time an observer (the "Clipper Observer") who shall have the right to attend
meetings of the Board and to receive information delivered to the Board, at the
expense of the Clipper Investors. The initial Clipper Observer shall be Kevin
A. Macdonald.
3.7. Termination/Suspension of Clipper Rights. Notwithstanding
anything in this Agreement to the contrary, the rights of the Clipper Investors
and the Clipper Representative under this Article III and the obligations of the
other parties hereto under this Article III shall terminate immediately and
without notice upon the earlier of (i) the termination of this Agreement under
Section 7.3 and (ii) any event or occurrence resulting in the holding by the
Clipper Investors of less than 5% of the outstanding shares of Common Stock.
Promptly upon the termination of its rights under this Article III, the Clipper
Investors agree to (i) cause the resignation of, or provide notice to the other
parties hereto as provided in Section 3.5 requesting the removal of, the
incumbent Clipper Director and (ii) inform the Clipper Observer that his rights
under Section 3.6 have terminated.
3.8. Irrevocable Proxy. Each of the Stockholders hereby grants to the
Clipper Representative, on behalf of the Clipper Investors, an irrevocable
proxy to vote all shares of Common Stock presently or at any future time owned
beneficially or of record by such Stockholder which the Stockholder is entitled
to vote, and to represent and otherwise act as such Stockholder could act, in
the same manner and with the same effect as if such Stockholder were personally
present, at any annual, special or other meeting of the stockholders of the
Company, and at any adjournment thereof, or pursuant to any written consent in
lieu of meeting or otherwise; provided, however, that any such vote or consent
in lieu thereof or any other action so taken shall be solely for the purposes of
electing a Clipper Designee to the Board as provided in Section 3.2 or 3.3 or
removing the Clipper Director from the Board as provided in Section 3.5.
ARTICLE IV
The Koch Director
-----------------
4.1. General. Koch shall be entitled to designate one individual as a
director nominee to serve on the Board. Such designation shall be made annually
as provided in Section 4.2 or at other times as provided in Section 4.3. The
parties hereto acknowledge that George B. Gregory has heretofore been designated
and elected as the initial Koch Director. The Koch Director shall
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serve on the Board until a successor director shall be duly elected and
qualified or until his earlier death, removal or resignation.
4.2. Annual Koch Designations. The Company shall, no later than 45
days prior to the mailing of any proxy statement with respect to an Annual
Meeting, notify Koch of the date of such mailing. As soon as practicable after
receipt of such notice but in any event no later than 20 days prior to the
mailing date specified therein, Koch shall provide the Company a written
statement ("Annual Koch Designation") designating either the incumbent Koch
Director or a person other than the incumbent Koch Director, in which event the
Annual Koch Designation shall include such other person's name, age, principal
occupation, business address and telephone number and residence address and
telephone number. The Annual Koch Designation shall also include or be
accompanied by (i) all information relating to the person designated therein
that is required to be disclosed in the proxy statement pursuant to applicable
regulations of the Securities and Exchange Commission, (ii) such person's
consent to being named in the proxy statement as a nominee and (iii) a statement
of such person's intention to serve as a director if elected to the Board. The
Company shall nominate for election at such Annual Meeting the person designated
in the Annual Koch Designation. Subject to applicable laws, the Company agrees
to take all other actions reasonably necessary to cause the Koch Designee to be
elected to the Board. Each Stockholder agrees to vote (or cause to be voted) the
Voting Stock owned by it in favor of the Koch Designee and to take any other
necessary or desirable action in its capacity as a stockholder of the Company to
elect the Koch Designee to the Board.
4.3. Interim Koch Designations. (a) In case a vacancy shall occur on
the Board because of the death, resignation or removal of the Koch Director,
Koch may elect either (i) to have such vacancy filled at the next Annual Meeting
pursuant to a designation made in accordance with Section 4.2 or (ii) to have
such vacancy filled prior to such Annual Meeting by a majority of the directors
remaining in office. If Koch wishes to make the election provided for in clause
(ii) above, it shall designate a successor director nominee by written notice
given to the Company and each of the other Stockholders (the "Interim Koch
Designation"). Subject to applicable laws, the Company shall recommend that the
remaining directors elect the Koch Designee and shall take all other actions
reasonably necessary to cause the Koch Designee to be elected to the Board.
Each Stockholder agrees to vote the Voting Stock owned by it in favor of the
Koch Designee and to take any other necessary or desirable action in its
capacity as a stockholder of the Company to cause the Koch Designee to be
elected to the Board. Without limitation of the foregoing, the Clipper
Investors agrees to cause the Clipper Director to vote in favor of the Koch
Designee and each Stockholder who is a member of the Board agrees, subject to
his fiduciary duties, to vote in favor of the Koch Designee.
(b) In the event Koch shall make an Interim Koch Designation in
accordance with paragraph (a) above in order to fill the vacancy created by the
death, resignation or removal of the Koch Director and in the event a majority
of the directors remaining in office shall fail or refuse to appoint the Koch
Designee to fill such vacancy within 30 days after receipt by the Company of
such Interim Koch Designation, then the Company agrees, if requested by Koch to
do so, to call a special
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<PAGE>
meeting of the stockholders of the Company for the purpose of voting upon a
proposal to elect the Koch Designee to the Board; provided, however, that in no
event shall the Company be required to call a special meeting of the
stockholders if the the Company has given a formal notice of the next Annual
Meeting.
4.4. Failure of Koch to Designate. If Koch shall fail or refuse to
designate a nominee for director pursuant to Section 4.2 or 4.3, such
directorship shall remain vacant unless and until such designation shall be made
as provided in this Article IV; provided, however, that if such vacancy results
in less than the minimum number of directors required by law or by the charter
or bylaws of the Company as then in effect, such vacancy shall be filled by an
individual elected by a majority of the directors then serving.
4.5. Removal of Koch Director. Koch shall have the exclusive right
(except as otherwise provided by applicable law) to remove or replace the Koch
Director. If Koch desires to remove the Koch Director, it shall give written
notice of such desire to the Company and the other Stockholders who shall
thereupon become obligated to vote all Voting Stock owned by them in favor of
the removal of the Koch Director. No Stockholder (other than Koch) shall vote
any of the securities of the Company owned by it or take any other action in its
capacity as a stockholder of the Company for the removal of the Koch Director
without the prior written approval of Koch.
4.6. Termination/Suspension of Koch Rights. Notwithstanding anything
in this Agreement to the contrary, the rights of Koch under this Article IV and
the obligations of the other parties hereto under this Article IV shall
terminate immediately and without notice upon the earlier of (i) the termination
of this Agreement under Section 7.3 and (ii) any event or occurrence resulting
in the holding by Koch of less than 5% of the outstanding shares of Common
Stock. Promptly upon the termination of its rights under this Article IV, Koch
agrees to cause the resignation of, or provide notice to the other parties
hereto as provided in Section 4.5 requesting the removal of, the incumbent Koch
Director.
4.7. Irrevocable Proxy. Each of the Stockholders hereby grants to
Koch an irrevocable proxy to vote all shares of Common Stock presently or at any
future time owned beneficially or of record by such Stockholder which the
Stockholder is entitled to vote, and to represent and otherwise act as such
Stockholder could act, in the same manner and with the same effect as if such
Stockholder were personally present, at any annual, special or other meeting of
the stockholders of the Company, and at any adjournment thereof, or pursuant to
any written consent in lieu of meeting or otherwise; provided, however, that any
such vote or consent in lieu thereof or any other action so taken shall be
solely for the purposes of electing a Koch Designee to the Board as provided in
Section 4.2 or 4.3 or removing the Koch Director from the Board as provided in
Section 4.5.
-7-
<PAGE>
ARTICLE V
Certain Restrictions on Sale of Common Stock, etc.
--------------------------------------------------
5.1. Stock Legend. (a) Each certificate for shares of Common Stock
owned by any Stockholder shall bear the following legend:
The shares represented by this certificate are subject to the terms
and conditions of a Voting Agreement, a copy of which is on file with
the Secretary of Sterling Chemicals Holdings, Inc., and are held and
may be sold, assigned, transferred or otherwise disposed of only in
accordance with such agreement.
(b) Upon the termination of this Agreement under Section 7.3, the
Company shall, without charge and upon surrender of certificates by the holders
thereof and written request of such holders, cancel all certificates evidencing
shares of Common Stock bearing the legend described above and issue to the
holders thereof replacement certificates that do not bear such legend for an
equal number of shares held by such holders. Upon the transfer of any Common
Stock bearing the legend described above to a party believed by the Company to
be not bound by and subject to this Agreement by virtue of Section 7.2, the
Company shall, without charge and upon surrender of certificates by the holders
thereof and written request of either the transferor or transferee, cancel all
certificates evidencing such shares of Common Stock and issue to the transferee
thereof replacement certificates that do not bear such legend.
5.2. Voting Trusts, etc. No Stockholder shall deposit any shares of
Common Stock in a voting trust or subject any shares of Common Stock to any
arrangement or agreement (other than this Agreement) with respect to the voting
of such shares unless such trust or arrangement or agreement is made expressly
subject to the provisions of this Agreement. Except as provided in this
Agreement, no Stockholder shall give any proxy or power of attorney with respect
to any shares of Common Stock that permits the holder thereof to vote such
shares in its discretion in an election of directors or for the removal of the
Clipper Director or the Koch Director unless such proxy or power of attorney is
made expressly subject to the provisions of this Agreement.
ARTICLE VI
Representations and Warranties
------------------------------
Each party hereto hereby represents and warrants, severally and not
jointly, to each other party hereto as follows:
(a) Such party has all necessary power and authority to execute and
deliver this Agreement and to consummate the transactions contemplated
hereby.
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<PAGE>
(b) Assuming this Agreement has been duly and validly authorized,
executed and delivered by the other parties hereto, this Agreement
constitutes a valid and binding agreement of such party, enforceable in
accordance with its terms.
(c) Neither the execution and delivery of this Agreement by such
party nor the consummation by such party of the transactions contemplated
hereby will conflict with or constitute a violation of or default under any
contract, commitment, agreement, arrangement or restriction of any kind to
which such party is a party or by which such party is bound.
ARTICLE VII
Miscellaneous Provisions
------------------------
7.1. Specific Performance. The parties hereto agree that irreparable
damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties hereto shall be entitled to
an injunction or injunctions to prevent breaches of the provisions of this
Agreement and to enforce specifically the terms and provisions hereof in any
court of the United States or any state thereof having jurisdiction (this being
in addition to any other remedy to which they are entitled at law or in equity),
and each party hereto agrees to waive in any action for such enforcement the
defense that a remedy at law would be adequate.
7.2. Agreement Binding on Certain Transferees. Prior to any transfer
of shares of Common Stock by any Stockholder (excluding any transfer pursuant to
(i) a bona fide public offering of such shares or (ii) a sale of such shares
pursuant to Rule 144 under the Securities Act of 1933, as amended), the
transferee of such shares must agree in writing to become bound by the terms of
this Agreement. For purposes of this Agreement, all references to Stockholders
shall be deemed to refer to the Stockholders and all direct and indirect
transferees thereof so required to become bound.
7.3. Term of Agreement. This Agreement shall terminate on August 21,
2006 or such earlier date as all the parties hereto shall agree upon in writing.
Upon the termination of this Agreement, the rights and obligations hereunder of
the parties hereto shall terminate and the provisions of this Agreement shall be
of no force and effect. In no event shall this Agreement become effective until
executed and delivered (in one or more counterparts) by all the parties hereto.
7.4. Reliance on Opinions of Counsel. (a) The Company shall not be
obligated to take any action hereunder which is contrary to applicable law. The
Company may rely and shall be fully protected in acting upon any notice,
request, consent, approval or other paper or document reasonably believed by it
to be genuine and to have been signed or presented by the proper person or
persons. The Company may consult with, and obtain advice from, legal counsel in
the event any question as to any of its duties hereunder and it shall incur no
liability and shall be fully protected in acting or refusing to act in good
faith in accordance with the written opinion or advice of such counsel.
-9-
<PAGE>
(b) Any notice, request, designation, consent or approval given or
made by any Stockholder hereunder shall be conclusive and binding on the
successors, assigns and transferees of such Stockholder.
(c) For the purpose of determining the number of shares of Voting
Stock owned or held by any Stockholder, the Company may rely and shall be fully
protected in acting upon the stock records maintained by or on behalf of the
Company.
7.5. No Inconsistent Actions. No party hereto shall, directly or
indirectly, undertake any course of action inconsistent with the provisions or
intent of this Agreement. Without limitation of the foregoing, each party
hereto agrees that it will not amend or cause to be amended the provisions of
the Company's charter or bylaws if such amendment would create a conflict or
inconsistency between this Agreement and the Company's charter or bylaws.
7.6. Assignment. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted
assigns.
7.7. Amendments. Except as otherwise specifically provided herein,
this Agreement shall not be amended other than by an instrument in writing
signed by all of the parties hereto.
7.8. Notices. Any notice, request or communication shall be
sufficiently given if given in writing addressed as indicated on the signature
pages hereof. Notice shall be deemed given when transmitted by telex or
telecopier, delivered to the telegraph or cable office or personally delivered
or, in the case of a mailed notice, three business days after the date deposited
in the United States mails. Each party hereto, by written notice to the other
parties, may designate additional or different addresses for subsequent notices
or communications.
7.9. Counterparts. This Agreement may be executed in counterparts,
each of which when executed shall be deemed an original, but all of which
together shall constitute one and the same agreement.
7.10. Entire Agreement. This Agreement contains the entire agreement
among the parties hereto with respect to the subject matter hereof and
supersedes all prior arrangements or understandings with respect to the subject
matter hereof.
7.11. Conflict with Governing Documents. In the event of a conflict
between this Agreement and the certificate of incorporation or the bylaws of the
Company, the provisions of this Agreement shall govern.
7.12. Governing Law. THE LAWS OF THE JURISDICTION IN WHICH HOLDINGS
IS INCORPORATED, THE STATE OF DELAWARE, SHALL GOVERN THIS AGREEMENT WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW.
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<PAGE>
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed under their respective seals, as of the day and year first
written above.
THE COMPANY:
STERLING CHEMICALS HOLDINGS, INC.
1200 Smith Street, Suite 1900
Houston, Texas 77002
Attention: General Counsel and Secretary
FAX: 713-654-9577
By: /s/ FRANK P. DIASSI
---------------------------------
Frank P. Diassi,
Chairman of the Board
STOCKHOLDERS:
FRANK P. DIASSI AND MARIANNE R. DIASSI
JOINT TENANTS WITH RIGHT OF SURVIVORSHIP
6 Commerce Drive
Cranford, New Jersey
FAX:
---------------------------------
/s/ FRANK P. DIASSI
---------------------------------
Frank P. Diassi
/s/ MARIANNE R. DIASSI
---------------------------------
Marianne R. Diassi
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<PAGE>
WILLIAM C. AND MARGARET W. OEHMIG
TENANTS IN COMMON
8 Greenway Plaza, Suite 702
Houston, Texas 77046
FAX:
---------------------------------
/s/ WILLIAM C. OEHMIG
---------------------------------
William C. Oehmig
/s/ MARGARET W. OEHMIG
---------------------------------
Margaret W. Oehmig
THE RHENEY LIVING TRUST U/A 8/23/93
8 Greenway Plaza, Suite 702
Houston, Texas 77046
FAX: (713) 877-1824
By: /s/ SUSAN O. RHENEY
---------------------------------
Name: Susan O. Rheney, as Trustee
/s/ FRANK J. HEVRDEJS
---------------------------------
Name: Frank J. Hevrdejs
Address: 8 Greenway Plaza, Suite 702
Houston, Texas 77046
FAX: (713) 877-1824
/s/ HUNTER NELSON
---------------------------------
Name: Hunter Nelson
Address: 8 Greenway Plaza, Suite 702
Houston, Texas 77046
FAX: (713) 877-1824
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<PAGE>
CLIPPER CAPITAL ASSOCIATES, L.P.,
in its individual capacity and as nominee
By: Clipper Capital Associates, Inc.
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
CLIPPER EQUITY PARTNERS I, L.P.
By: Clipper Capital Associates, L.P.
its general partner
By: Clipper Capital Associates, Inc.
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
CLIPPER/MERCHANT PARTNERS, L.P.
By: Clipper Capital Associates, L.P.
its general partner
By: Clipper Capital Associates, Inc.
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
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<PAGE>
CLIPPER/MERBAN, L.P.
By: Clipper Capital Associates, L.P.
its general partner
By: Clipper Capital Associates, Inc.
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
CLIPPER/EUROPEAN RE, L.P.
By: Clipper Capital Associates, L.P.
its general partner
By: Clipper Capital Associates, Inc.
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
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<PAGE>
CS FIRST BOSTON MERCHANT
INVESTMENTS 1995/96, L.P.
By: Merchant Capital, Inc.
its general partner
By: Clipper Capital Associates, L.P.
Attorney-in-Fact
By: Clipper Capital Corporation
its general partner
By: /s/ DANIEL V. CAHILLANE
---------------------------------
Name: Daniel V. Cahillane
Title: Treasurer & Secretary
Address: 11 Madison Avenue
New York, New York 10010
FAX: (212) 448-5442
FSI NO. 2 CORPORATION
By: /s/ RAYE G. WHITE
---------------------------------
Name: Raye G. White
Title: Executive Vice President
Address: Two Houston Center,
Suite 2907
Houston, Texas 77010
FAX: (713) 654-4015
KOCH CAPITAL SERVICES, INC.
By: /s/ PAUL W. BROOKS
---------------------------------
Name: Paul W. Brooks
Title: President
Address: 4111 East 37th Street North
Wichita, Kansas 67220
FAX: (316) 828-7868
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<PAGE>
OLYMPUS GROWTH FUND II, L.P.
By: OGP II, L.P., its general partner
By: LJM Corporation, a general partner
By: /s/ LOUIS J. MISCHIANTI
---------------------------------
Name: Louis J. Mischianti
Title: President
Address: Metro Center,
One Station Place
Stamford, Connecticut 06902
FAX: (203) 353-5910
OLYMPUS EXECUTIVE FUND, L.P.
By: OEF, L.P.
By: LJM L.L.C., a general partner
By: /s/ LOUIS J. MISCHIANTI
---------------------------------
Name: Louis J. Mischianti
Title: Member
Address: Metro Center,
One Station Place
Stamford, Connecticut 06902
FAX: (203) 353-5910
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