UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 4
SPRECKELS INDUSTRIES, INC.
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(Name of Issuer)
Class A Common Stock, $0.01 Par Value
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(Title of Class of Securities)
849416-20-1
---------------------------------------------
(CUSIP Number)
Jeffrey Schwarz
Metropolitan Capital Advisors, Inc.
660 Madison Avenue
20th Floor
New York, NY 10021
(212) 486-8100
-with copies to-
Joseph F. Mazzella, Esq.
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts 02110
(617) 345-9800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 27, 1996
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(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 [ ].
Check the following box if a fee is being paid with the statement. (A fee is not
required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.) [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13-d(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).
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 2 of 15 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Bedford Falls
Investors, L.P.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC, OO
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Delaware
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Number of 7 Sole Voting Power 296,236
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 0
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 296,236
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 0
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 296,236
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 4.7%
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14 Type of Reporting Person* PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 3 of 15 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Metropolitan Capital
Advisors, L.P.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Delaware
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 296,236
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 296,236
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 296,236*
*as General Partner of Bedford Falls Investors, L.P.
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 4.7%
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14 Type of Reporting Person* PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 4 of 15 Pages
-------------------------- ------- --------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Metropolitan Capital
Advisors, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Delaware
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Number of 7 Sole Voting Power 49,697
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 296,236
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 49,697
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 296,236
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 345,933
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 5.5%
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14 Type of Reporting Person* CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 5 of 15 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Jeffrey E. Schwarz
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization USA
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 345,933
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 345,933
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 345,933
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 5.5%
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14 Type of Reporting Person* IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 6 of 15 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Karen Finerman
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization USA
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 345,933
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 345,933
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 345,933
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 5.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 849416-20-1 Page 7 of 15 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Robert F. Lietzow, Jr.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* PF
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization USA
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Number of 7 Sole Voting Power 6,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 0
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 6,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 0
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |X|
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13 Percent of Class Represented by Amount in Row (11) 0.1%
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14 Type of Reporting Person* IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
CUSIP NO. 849416-20-1 Page 8 of 15
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THIS AMENDMENT NO. 4 RELATES TO THE SCHEDULE 13D ORIGINALLY FILED WITH THE
COMMISSION ON NOVEMBER 30, 1995 AND AMENDED AS OF MAY 15, 1996, JULY 11, 1996,
AND AUGUST 26, 1996, FILED JOINTLY ON BEHALF OF BEDFORD FALLS INVESTORS, L.P.
AND CERTAIN OTHER REPORTING PERSONS. THE TEXT OF ITEM 5 OF SAID SCHEDULE 13D IS
AMENDED AS INDICATED HEREIN. ALL CAPITALIZED TERMS USED HEREIN WITHOUT
DEFINITION SHALL HAVE THE SAME MEANING AS SET FORTH IN SAID SCHEDULE 13D DATED
NOVEMBER 30, 1995.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The beneficial ownership of each of the Reporting Persons of Common
Stock of the Issuer as of the date hereof is unchanged from that previously set
forth in Item 5, except as follows:
(i) Bedford Falls Investors, on September 26, 1996, sold an
aggregate of 51,300 shares of Common Stock at prices of
$23.125 (15,000) and $23.165 (36,300). On September 27, 1996,
Bedford Falls Investors sold 81,000 shares of Common Stock at
a price of $23.211 and on September 30, 1996, Bedford Falls
sold 27,100 shares of Common Stock at a price of $23.198.
Bedford Falls is the owner of 296,236 currently exercisable
Warrants pursuant to which 296,236 shares (4.7%) of Common
Stock may be acquired. Metropolitan Capital Advisors, L.P. is
the General Partner of Bedford Falls Investors, L.P., and may
be deemed to have shared voting and dispositive power over the
securities described above.
(ii) Metropolitan Capital Advisors, Inc. has purchased no shares of
Common Stock of the Issuer solely for its own account;
however, Metropolitan Capital Advisors, Inc. does have voting
and/or dispositive power with respect to all shares of Common
Stock of the Issuer held in managed accounts pursuant to the
terms of certain investment advisory agreements between it and
the managed accounts over which it has discretionary trading
authority. Certain of such managed accounts purchased 37,100
shares of Common Stock on September 5, 1996 at a price of
$22.52 per share. On September 26, 1996, Metropolitan Capital
Advisors, Inc. sold 9,000 shares of Common Stock at a price of
$23.165 per share, 19,000 shares of Common Stock at a price of
$23.211 per share on September 27, 1996 and 1,700 shares of
Common Stock at $23.198 on September 30, 1996. Thus, by virtue
of its discretionary trading authority over assets held in the
managed accounts, Metropolitan Capital Advisors, Inc. may be
deemed the beneficial owner of 49,697 shares of Common Stock
of the Issuer held by managed accounts, 31,097 of which may be
acquired upon exercise of currently exercisable Warrants.
In addition to the above, by reason of its position as General
Partner of Metropolitan Capital Advisors, L.P., Metropolitan
Capital Advisors, Inc. may be deemed to have shared voting and
dispositive power over the 296,236 shares which may be
acquired upon the exercise of Warrants owned by Bedford Falls.
Accordingly, Metropolitan Capital Advisors, Inc. may be deemed
the beneficial owner of an aggregate 345,933 shares
representing 5.5% of the Common Stock of the Issuer.
(iii) Jeffrey Schwarz may be deemed the beneficial owner of 345,933
shares (5.5%) of the Common Stock of the Issuer, of which
327,333 are represented by currently exercisable Warrants, as
a result of his being a director, executive officer and
controlling stockholder of Metropolitan Capital Advisors, Inc.
Jeffrey Schwarz does not beneficially own any shares of Common
Stock of the Issuer other than through such positions.
CUSIP NO. 849416-20-1 Page 9 of 15
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(iv) Karen Finerman may be deemed the beneficial owner of 345,933
shares (5.5%) of the Common Stock of the Issuer, of which
327,333 are represented by currently exercisable Warrants, as
a result of her being a director and executive officer of
Metropolitan Capital Advisors, Inc. Karen Finerman does not
beneficially own any shares of Common Stock of the Issuer
other than through such positions.
(v) Robert F. Lietzow sold 1,000 shares of Common Stock on
September 26, 1996 for a price of $23.250 and is now the owner
of 6,000 shares of Common Stock.
The number of shares beneficially owned and the percentage of
outstanding shares represented thereby, for each of the Reporting Persons, have
been computed in accordance with Rule 13d-3 under the Securities Exchange Act of
1934, as amended. The percentages of ownership described above are based on the
outstanding shares of Class A Common Stock of the Issuer reported in the
Issuer's Quarterly Report on Form 10-Q for the quarter ended March 30, 1996.
(b) Bedford Falls Investors, L.P. (the "Partnership") has the sole power to
vote or to dispose of or to direct the voting or to direct the disposition of
the Common Stock of the Issuer beneficially owned by it. Such voting and
dispositive power may be exercised on behalf of Bedford Falls Investors, L.P. by
its General Partner, Metropolitan Capital Advisors, L.P., which acts through its
corporate general partner, Metropolitan Capital Advisors, Inc. Jeffrey Schwarz
and Karen Finerman are the sole directors, officers and, with respect to Mr.
Schwarz, controlling stockholder of Metropolitan Capital Advisors, Inc.
By virtue of their positions with Metropolitan Capital Advisors, Inc.,
Jeffrey Schwarz and Karen Finerman each may be deemed to have voting and
dispositive power over shares of the Common Stock beneficially owned by a
Managed Account. Pursuant to written agreements governing the Managed Accounts,
such power is sole with respect to all of such shares.
Robert F. Lietzow has sole voting and dispositive power over the 6,000
shares of common stock beneficially owned by him.
(c) The transactions reported in paragraph (a) above are all the
transactions in the class of Securities reported on herein effected by any of
the Reporting Persons in the past sixty (60) days.
(d) Not Applicable.
(e) Not Applicable.
CUSIP NO. 849416-20-1 Page 10 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
BEDFORD FALLS INVESTORS, L.P.
By: Metropolitan Capital Advisors, L.P.
Its Sole General Partner
By: Metropolitan Capital Advisors, Inc.
Its Sole General Partner
By: /s/ Karen Finerman
-------------------------
Karen Finerman, President
Dated as of: October 1, 1996
CUSIP NO. 849416-20-1 Page 11 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
METROPOLITAN CAPITAL ADVISORS, L.P.
By: Metropolitan Capital Advisors, Inc.
By: /s/ Karen Finerman
-------------------------
Karen Finerman, President
Dated as of: October 1, 1996
CUSIP NO. 849416-20-1 Page 12 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
METROPOLITAN CAPITAL ADVISORS, INC.
By: /s/ Karen Finerman
-------------------------
Karen Finerman, President
Dated as of: October 1, 1996
CUSIP NO. 849416-20-1 Page 13 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
/s/ Jeffrey Schwarz
----------------
Jeffrey Schwarz
Dated as of: October 1, 1996
CUSIP NO. 849416-20-1 Page 14 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
/s/ Karen Finerman
---------------
Karen Finerman
Dated as of: October 1, 1996
CUSIP NO. 849416-20-1 Page 15 of 15
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
/s/ Robert F. Lietzow, Jr.
-----------------------
Robert F. Lietzow, Jr.
Dated as of: October 1, 1996
