SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)(1)
PLM INTERNATIONAL, INC.
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of class of securities)
69341L106
- --------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
- --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
November 21, 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.
(Continued on following pages)
(Page 1 of 7 Pages)
- --------
(1) 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 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>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 2 of 7 Pages
- ----------------------------- -------------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,326,200
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,326,200
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,326,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.66%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 3 of 7 Pages
- ----------------------------- -------------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
WARREN LICHTENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,326,200
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,326,200
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,326,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.66%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 4 of 7 Pages
- ----------------------------- -------------------------------------
This constitutes Amendment No. 5 ("Amendment No. 5") to the Schedule
13D filed by the undersigned (the "Schedule 13D"). This Amendment No. 5
supplements the Schedule 13D as specifically set forth.
Item 3 is amended in its entirety to read as follows:
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate purchase price of the 1,326,200 Shares of Common
Stock owned by Steel Partners II is $6,810,311. The Shares of Common Stock owned
by Steel Partners II were acquired with partnership funds.
Items 5(a) and 5(c) are amended in their entirety to read as follows:
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of Shares of Common Stock
reported owned by each person named herein is based upon 9,046,200 Shares
outstanding, which is the total number of Shares of Common Stock outstanding as
reported in the Company's Quarterly Report on Form 10-Q for the fiscal quarter
ended September 30, 1997.
As of the close of business on November 21, 1997, Steel
Partners II beneficially owned 1,326,200 Shares of Common Stock, constituting
approximately 14.66% of the Shares outstanding. Mr. Lichtenstein may be deemed
to beneficially own all shares owned by Steel Partners II by virtue of his
authority to vote and dispose of such Shares. All of such Shares were acquired
in open-market transactions.
(c) Schedule A annexed hereto lists all transactions in the
Issuer's Common Stock in the last sixty days by the Reporting Persons.
<PAGE>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 5 of 7 Pages
- ----------------------------- -------------------------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: November 21, 1997 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
General Partner
By:/s/ Warren G. Lichtenstein
--------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
--------------------------
WARREN G. LICHTENSTEIN
<PAGE>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 6 of 7 Pages
- ----------------------------- -------------------------------------
SCHEDULE A
Transactions in the Shares Within the Past 60 Days
Shares of Common Price Per Date of
Stock Purchased Share Purchase
--------------- ----- --------
STEEL PARTNERS II, L.P.
2,800 5.79500 9/23/97
6,400 5.60750 9/30/97
500 5.67000 10/02/97
2,600 5.67000 10/06/97
4,000 5.60750 10/07/97
4,400 5.60750 10/08/97
3,300 5.60750 10/09/97
1,100 5.60750 10/10/97
1,700 5.60750 10/13/97
1,000 5.67000 10/14/97
31,000 5.83270 10/15/97
1,400 5.70000 10/22/97
8,300 5.58261 10/27/97
1,500 5.42000 10/28/97
11,000 5.67000 10/29/97
5,700 5.66781 10/30/97
3,400 5.62950 10/31/97
1,000 5.60750 11/03/97
1,300 5.60750 11/04/97
7,900 5.60038 11/05/97
2,100 5.54500 11/06/97
1,900 5.54500 11/07/97
10,200 5.70554 11/10/97
1,900 5.60750 11/11/97
13,700 5.60430 11/12/97
3,400 5.64427 11/13/97
900 5.54500 11/17/97
4,900 5.59602 11/18/97
3,600 5.61444 11/19/97
4,700 5.54500 11/20/97
<PAGE>
- ----------------------------- -------------------------------------
CUSIP No. 69341L106 13D Page 7 of 7 Pages
- ----------------------------- -------------------------------------
10,800 5.66653 11/21/97
WARREN LICHTENSTEIN
None.
