UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
McMullin, Peter R.
2101 Corporate Boulevard
Suite 402
Boca Raton, Florida 33431
USA
2. Date of Event Requiring Statement (Month/Day/Year)
May 1, 1997
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
GKN Holding Corp.
(NMS "GKNS")
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock, par value $.0001 per share |40,960(1) |D |-- |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Convertible Series A Pre|3/13/97 |3/13/02 |Common Stock, par value|49,152 |(2) |D |-- |
ferred Stock, par value | | | $.0001 per share | | | | |
$.10 per share | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Does not include 49,152 shares of Common Stock of GKN Holding Corp.
("Common Stock") beneficially owned
by the Reporting Person, which shares are issuable upon currently convertible
307,200 Series A Preferred Stock of
GKN Holding Corp. owned by the Reporting Person. See Table II above and
Footnote (2) below.
(2) The 307,200 shares of Series A Preferred Stock owned by the Reporting
Person are currently convertible into
shares of Common Stock at the rate of 0.16 shares of Common Stock for each
share of Series A Preferred Stock,
or an aggregate of 49,152 shares of Common Stock, subject to adjustment in
certain circumstances, including
reclassification, combination, subdivisions, consolidations, stock dividends,
stock or asset sales, and merger
transactions.
SIGNATURE OF REPORTING PERSON
/s/ Peter R. McMullin
DATE
11/5/97
