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FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
- ------ Washingtn, D.C. 20549 ---------------------------
OMB Number 3325-0104
Expires: September 30, 1998
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Estimated average burden
hours per response .....0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Mame amd Address of Reporting Person* 2. Date of Event 4. Issuer Name AND Ticker or Trdaing Symbol
Requiring
Enron Capital & Trade Resources Corp. (Note 1) Statement
- ---------------------------------------------- Month/Day/ Repap Enterprises Inc. ("RPAPF")
(Last) (First) (Middle) Year
5/15/98 ----------------------------------------------------
------------------- 5. Relationship of Reporting 6. If Amendment,
1400 Smith Street 3. IRS or Social Person(s) to Issuer Date of
Security Number (Check all applicable) Original
- ---------------------------------------------- of Reporting Person x (Month/Day/Year
(Street) (Voluntary) ----- Director --- 10% Owner
---- Officer --- Other
(give title (specify
below) below) 7. Individual or
Houston TX 77002 Joint/Group
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(City) (State) (Zip) Applicabble Line
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Reporting Person
x Form filed by More
-- than One Reporting
Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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Reminder: Report on a separate line for each class of securities beneficially owned (Over)
directly or indirectly. SEC 1473 (7-96)
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
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FORM 3 (continued)
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Table II--Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security 2. Date Exercisable and 3. Title and Amount of Securities Underlying
(Instr. 4) Expiration Date Derivative Security
(Month/Day/Year) (Instr. 4)
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Date Expiration Title Amount or Number
Exercisable Date of Shares
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6% Convertible Subordinated Debentures 5/15/98 6/30/05 Common Stock, 128,571,429 (Note 2)
due 2005 no par value
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4. Conversion or Exercise Price 5. Ownership Form of Derivative 6. Nature of Indirect
of Derivative Security Security: Direct (D) or Beneficial Ownership
Indirect (I)(Instr. 5) (Instr. 5)
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$0.35 (Note 2) D (Note 3)
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Explanation of Responses:
Note 1. This statement is being filed jointly by Enron Capital & Trade
Resources Corp. ("ECT") and Enron Corp. ("Enron") in connection with
the purchase by ECT of $45,000,000 aggregate principal amount of 6%
Convertible Subordinated Debentures due 2005 (the "Debentures"). Enron
may be deemed to beneficially own the Debentures because ECT is a
wholly-owned subsidiary of Enron; however, Enron disclaims beneficial
ownership of any Debentures.
Note 2. The number of shares of Common Stock issuable upon conversion of the
Debentures and the conversion price of the Debentures are subject to
adjustment.
Note 3. The Debentures are held directly by ECT, and are therefore held
indirectly by Enron through ECT.
Enron Capital & Trade Resources Corp.
By: /s/ PEGGY B. MENCHACA May 26, 1998
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**Signature of Reporting Person Date
Peggy B. Menchaca, Vice President
and Secretary
Enron Corp.
By: /s/ PEGGY B. MENCHACA May 26, 1998
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**Signature of Reporting Person Date
Peggy B. Menchaca, Vice President
and Secretary
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of the Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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SEC 1473 (7-96)
