<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
POCAHONTAS BANCORP, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01
(Title of Class of Securities)
730234101
(CUSIP Number)
THOMAS L. SEIFERT, ESQ.
515 MADISON AVENUE, SUITE 2000, NEW YORK, NY 10022
212-310-0543
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
APRIL 21, 1999
(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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7(b) 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 e "filed" for the purpose of Section 18 of the Securities 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 this Act (however, see the Notes).
<PAGE> 2
CUSIP NO. 730234101 Page 2 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drake Associates L.P.
13-3476514
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 175,612
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 175,612
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 175,612
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 2.90%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 3
CUSIP NO. 730234101 Page 3 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Anglo American Security Fund L.P.
13-3316427
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 10,000
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 10,000
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 10,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.17%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 4
CUSIP NO. 730234101 Page 4 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aviation Services, L.P.
11-3182441
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Illinois
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,500
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,500
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 5
CUSIP NO. 730234101 Page 5 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Diversified Long Term Growth Fund L.P.
13-3470412
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 20,000
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 20,000
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 20,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.33%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 6
CUSIP NO. 730234101 Page 6 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Global Strategic Investment Holdings, Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin
Islands
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 25,000
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 25,000
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 25,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.41%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 7
CUSIP NO. 730234101 Page 7 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J.S. Grace, Jr. L.P.
13-3355102
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION New York
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,500
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,500
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 8
CUSIP NO. 730234101 Page 8 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lorraine Marie Grace L.P.
58-2223817
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,500
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,500
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 9
CUSIP NO. 730234101 Page 9 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sterling Grace Capital Management, L.P.
13-3354180
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 30,000
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 30,000
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 30,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.50%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 10
CUSIP NO. 730234101 Page 10 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Victoria Alice Grace L.P.
58-2223806
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,500
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,500
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 11
CUSIP NO. 730234101 Page 11 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Butterfield Trust (Bermuda)Limited as Trustee
of Trust # 1487 FBO Lorraine G. Grace
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 145,367
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 145,367
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 145,367
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 2.40%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* OO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 12
CUSIP NO. 730234101 Page 12 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Butterfield Trust (Bermuda) Limited as Trustee
of Trust # 1550 FBO Oliver R. Grace, Jr.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 65,245
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 65,245
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 65,245
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 1.08%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* OO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 13
CUSIP NO. 730234101 Page 13 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FS (1994) L.P.
11-3239125
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,000
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,000
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 14
CUSIP NO. 730234101 Page 14 of 19 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OBX, Inc.
11-3089277
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER 7,500
NUMBER OF ------------------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY ------------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 7,500
REPORTING
PERSON WITH ------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 7,500
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ X ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 0.12%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 15
CUSIP NO. 730234101 Page 15 of 19 Pages
This filing is Amendment Number 1 to the Schedule 13D filed by the
Registrants on June 22, 1998, which is incorporated herein by reference.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 is hereby amended to include the following:
(e) Global Investment Holding Fund, Inc. changed its name to Global
Strategic Investment Holdings, Inc. ("Global") effective July 3, 1998.
(k) FS (1994) L.P. ("FSLP") is a Delaware limited partnership engaged
in the business of investing in securities. FSLP's principal business address is
55 Brookville Road, Glen Head, New York 11545.
FSLP's general partner is Frank's Sports Corp. ("Frank's"), a Delaware
corporation engaged in the business of investing in securities. Its principal
business address is 55 Brookville Road, Glen Head, New York 11545. Oliver R.
Grace, Jr. is the sole officer and director. The stockholders of Frank's are the
seven children of Oliver R. Grace, Jr.
(l) OBX, Inc. ("OBX") is a Delaware corporation engaged in the business
of making charitable contributions. OBX's principal business address is 55
Brookville Road, Glen Head, New York 11545. Oliver R. Grace, Jr. is President,
Treasurer and sole stockholder of OBX.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended to include the following:
The aggregate purchase price of the 14,500 shares owned by FSLP and OBX
was approximately $99,892. The shares were paid for out of working capital. In
each case, funds available in standard margin accounts maintained by each such
Registrant were used.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended as follows:
Registrants believe that 6,059,044 shares of the Issuer are presently
issued and outstanding.
<PAGE> 16
CUSIP NO. 730234101 Page 16 of 19 Pages
(a) The Registrants beneficially own an aggregate of 515,724 shares,
representing approximately 8.51% of the shares issued and outstanding. Reference
is made to the second cover pages attached hereto for the number of shares
beneficially owned by each of the Registrants.
(b) The Registrants have the sole power to vote or to direct the vote
and sole power to dispose or to direct to dispose 515,724 shares indicated in
Item 5(a). Reference is made to each of the second cover pages for the number of
shares in respect of each Registrant.
(c) Within the past 60 days Registrants have purchased shares in the
amounts and at the per share prices set forth below.
<TABLE>
Amount of Price
Shares Per Aggregate
Buyer Date Purchased Share Price
----- ---- --------- ----- -----
<S> <C> <C> <C> <C>
OBX, Inc. 04/09/99 7,500 $ 7.00 $52,800
FS (1994) L.P. 04/21/99 7,000 $ 6.73 $47,092
</TABLE>
<PAGE> 17
CUSIP NO. 730234101 Page 17 of 19 Pages
SIGNATURES
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.
Dated: April 30, 1999 DRAKE ASSOCIATES, L.P.
By: /S/ JOHN S. GRACE
---------------------------------
Name: John S. Grace
Title: Chairman, Associated Asset
Management, Inc., its
General Partner
Dated: April 30, 1999 ANGLO AMERICAN SECURITY FUND L.P.
By: /S/ JOHN S. GRACE
-----------------------------------
Name: John S. Grace
Title: General Partner
Dated: April 30, 1999 AVIATION SERVICES, L.P.
By: /S/ LOLA N. GRACE
-----------------------------------
Name: Lola N. Grace
Title: General Partner
Dated: April 30, 1999 DIVERSIFIED LONG TERM GROWTH FUND L.P.
By: /S/ JOHN S. GRACE
-----------------------------------
Name: John S. Grace
Title: Chairman, Associated Asset
Management, Inc., its
General Partner
<PAGE> 18
CUSIP No. 730234101 Page 18 of 19 Pages
Dated: April 30, 1999 GLOBAL STRATEGIC INVESTMENT HOLDINGS, INC.
By: /S/ KEN MORGAN
---------------------------------------
Name: Ken Morgan
Title: Executive Officer of
Woodbourne Corporation (BVI)
Ltd., its Director
Dated: April 30, 1999 J. S. GRACE, JR. L.P.
By: /S/ JOHN S. GRACE
---------------------------------------
Name: John S. Grace
Title: President, John S. Grace, Jr.,
Inc., its General Partner
Dated: April 30. 1999 LORRAINE MARIE GRACE L.P.
By: /S/ JOHN S. GRACE
---------------------------------------
Name: John S. Grace
Title: President, Lorraine Marie
Grace, Inc., its General
Partner
Dated: April 30, 1999 STERLING GRACE CAPITAL MANAGEMENT, L.P.
By: /S/ JOHN S. GRACE
---------------------------------------
Name: John S. Grace
Title: President, Sterling Grace
Corp., its General Partner
Dated: April 30, 1999 VICTORIA ALICE GRACE, L.P.
By: /S/ JOHN S. GRACE
---------------------------------------
Name: John S. Grace
Title: President, Victoria Alice
Grace, Inc., its General
Partner
<PAGE> 19
CUSIP No. 730234101 Page 19 of 19 Pages
Dated: April 30, 1999 BUTTERFIELD TRUST (BERMUDA) LIMITED
AS TRUSTEE OF TRUST # 1487 FBO LORRAINE
G. GRACE AND AS TRUSTEE OF TRUST # 1550
FBO OLIVER R. GRACE, JR.
By: /S/ ROBIN A. BARNES
---------------------------------------
Name: Robin A. Barnes
Title: Managing Director
Dated: April 30, 1999 FS (1994)L.P.
By: /S/ Oliver R. Grace, Jr.
---------------------------------------
Name: Oliver R. Grace, Jr.
Title: President, Frank's Sports
Corp., its General Partner
Dated: April 30, 1999 OBX, INC.
By: /S/ Oliver R. Grace, Jr.
---------------------------------------
Name: Oliver R. Grace, Jr.
Title: President
