================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 3)
-----------------------
NOEL GROUP, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
655260107
(CUSIP Number)
-----------------------
TIMOTHY I. LEVART
885 THIRD AVENUE
NEW YORK, NY 10022
TEL. NO.: (212) 371-3813
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
-----------------------
SEPTEMBER 24, 1998
(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
statement 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 [ ].
================================================================================
Page 1 of 25 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 2 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner Partners
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds WC
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization New York
------------------------
Number of (7) Sole Voting Power 277,200
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 277,200
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 277,200
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 1.35%
---------
(14) Type of Reporting Person PN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 3 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner Institutional Partners, L.P.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds WC
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization Delaware
------------------------
Number of (7) Sole Voting Power 474,300
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 474,300
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 474,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 2.31%
---------
(14) Type of Reporting Person PN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 4 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner Endowment Partners
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds WC
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization New York
------------------------
Number of (7) Sole Voting Power 148,800
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 148,800
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 148,800
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 0.72%
---------
(14) Type of Reporting Person PN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 5 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
MHD Management Co.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization New York
------------------------
Number of (7) Sole Voting Power 426,000
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 426,000
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 426,000
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 2.07%
---------
(14) Type of Reporting Person PN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 6 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
M.H. Davidson & Co.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds WC
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization New York
------------------------
Number of (7) Sole Voting Power 18,100
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 18,100
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 18,100
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) .09%
---------
(14) Type of Reporting Person PN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 7 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner Advisers Inc.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization New York
------------------------
Number of (7) Sole Voting Power 474,300
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 474,300
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 474,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 2.31%
---------
(14) Type of Reporting Person CO
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 8 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner International Ltd.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds WC
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization British Virgin Islands
------------------------
Number of (7) Sole Voting Power 47,200
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 47,200
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 47,200
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 0.23%
---------
(14) Type of Reporting Person CO
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 9 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Davidson Kempner International Advisors, L.L.C.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization Delaware
------------------------
Number of (7) Sole Voting Power 47,200
Shares Bene- ------------------------
ficially (8) Shared Voting Power -
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power 47,200
Person With -------------------
(10) Shared Dispositive Power -
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 47,200
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 0.23%
---------
(14) Type of Reporting Person CO
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 10 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Marvin H. Davidson
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization United States
------------------------
Number of (7) Sole Voting Power -
Shares Bene- ------------------------
ficially (8) Shared Voting Power 965,600
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power -
Person With -------------------
(10) Shared Dispositive Power 965,600
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 965,600
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [X]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.69%
---------
(14) Type of Reporting Person IN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 11 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Thomas L. Kempner, Jr.
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF, PF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization United States
------------------------
Number of (7) Sole Voting Power --
Shares Bene- ------------------------
ficially (8) Shared Voting Power 966,300
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power --
Person With -------------------
(10) Shared Dispositive Power 966,300
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 966,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [X]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.7%
---------
(14) Type of Reporting Person IN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 12 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Stephen M. Dowicz
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization United States
------------------------
Number of (7) Sole Voting Power -
Shares Bene- ------------------------
ficially (8) Shared Voting Power 966,300
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power -
Person With -------------------
(10) Shared Dispositive Power 966,300
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 966,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.7%
---------
(14) Type of Reporting Person IN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 13 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Scott E. Davidson
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization United States
------------------------
Number of (7) Sole Voting Power -
Shares Bene- ------------------------
ficially (8) Shared Voting Power 966,300
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power -
Person With -------------------
(10) Shared Dispositive Power 966,300
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 966,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.7%
---------
(14) Type of Reporting Person IN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 14 OF 25 PAGES
---------
(1) Name of Reporting Persons. S.S. or I.R.S. Identification
Nos. of Above Persons
Michael J. Leffell
------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) X (b)
----------------- -----------------------------------
(3) SEC Use Only
(4) Source of Funds AF
---------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
------------------------------
(6) Citizenship or Place of Organization United States
------------------------
Number of (7) Sole Voting Power -
Shares Bene- ------------------------
ficially (8) Shared Voting Power 966,300
Owned by Each ----------------------
Reporting (9) Sole Dispositive Power -
Person With -------------------
(10) Shared Dispositive Power 966,300
-----------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 966,300
-----------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
-----------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.7%
---------
(14) Type of Reporting Person IN
-----------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 15 OF 25 PAGES
---------
This Amendment No. 3 to Schedule 13D with respect to shares of Common
Stock, par value $ .10 per share (the "Common Stock"), of Noel Group, Inc. (the
"Company") originally filed on October 6, 1997, as amended by Amendment No. 1
dated February 11, 1998 and by Amendment No. 2 dated March 12, 1998 (the
"Schedule 13D") amends Item 5 of the Schedule 13D.
The Schedule 13D is hereby amended as follows:
Item 5. Interest in Securities of the Issuer.
The aggregate percentage of shares of Common Stock reported owned by
each person herein is based upon the Issuer's Form 10-Q filed on August 14,
1998, which disclosed that 20,567,757 shares of Common Stock were outstanding at
the close of business on August 12, 1998.
As of the close of business on September 24, 1998:
Name of Reporting Party:
DKP
(A) AGGREGATE NUMBER OF SECURITIES OWNED 277,200
PERCENTAGE 1.35%
(B) 1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 277,200
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 277,200
4. SHARED POWER TO DISPOSE OF OR TO
DIRECT THE DISPOSITION --
(C) INFORMATION CONCERNING TRANSACTIONS IN
THE COMMON STOCK EFFECTED BY DKP IS SET
FORTH IN APPENDIX II.
DKIP
(A) AGGREGATE NUMBER OF SECURITIES OWNED 474,300
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 16 OF 25 PAGES
---------
PERCENTAGE 2.31%
(B) 1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 474,300
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 474,300
4. SHARED POWER TO DISPOSE OF OR TO
DIRECT THE DISPOSITION --
(C) INFORMATION CONCERNING TRANSACTIONS
IN THE COMMON STOCK EFFECTED BY DKIP IS
SET FORTH IN APPENDIX II.
DKEP
(A) AGGREGATE NUMBER OF SECURITIES OWNED 148,800
PERCENTAGE .072%
(B) 1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 148,800
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 148,800
4. SHARED POWER TO DISPOSE OF OR TO
DIRECT THE DISPOSITION --
(C) INFORMATION CONCERNING TRANSACTIONS
IN THE COMMON STOCK EFFECTED BY DKEP IS
SET FORTH IN APPENDIX II.
MHD MANAGEMENT CO.
(A) AGGREGATE NUMBER OF SECURITIES OWNED 426,000
(B) PERCENTAGE 2.07%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 426,000
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 17 OF 25 PAGES
---------
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 426,000
4. SHARED POWER TO DIRECT THE
DISPOSITION --
M.H. DAVIDSON & CO.
(A) AGGREGATE NUMBER OF SECURITIES OWNED 18,100
(B) PERCENTAGE .09%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 18,100
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 18,100
4. SHARED POWER TO DIRECT THE
DISPOSITION --
(C) INFORMATION CONCERNING TRANSACTIONS
IN THE COMMON STOCK EFFECTED BY M.H. DAVIDSON
& CO. IS SET FORTH IN APPENDIX II.
DAVIDSON KEMPNER ADVISERS INC.
(A) AGGREGATE NUMBER OF SECURITIES OWNED 474,300
(B) PERCENTAGE 2.31%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 474,300
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITIONS 474,300
4. SHARED POWER TO DIRECT THE
DISPOSITION --
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 18 OF 25 PAGES
---------
DAVIDSON KEMPNER INTERNATIONAL LTD.
(A) AGGREGATE NUMBER OF SECURITIES OWNED 47,200
(B) PERCENTAGE .23%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 47,200
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 47,200
4. SHARED POWER TO DIRECT THE
DISPOSITION --
(C) INFORMATION CONCERNING TRANSACTIONS
IN THE COMMON STOCK EFFECTED BY DKIL
IS SET FORTH IN APPENDIX II.
DKIA
(A) AGGREGATE NUMBER OF SECURITIES OWNED 47,200
(B) PERCENTAGE .23%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE 47,200
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE --
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION 47,200
4. SHARED POWER TO DIRECT THE
DISPOSITION --
MARVIN H. DAVIDSON
(A) AGGREGATE NUMBER OF SECURITIES OWNED 965,600
(B) PERCENTAGE 4.69%
5. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE --
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 19 OF 25 PAGES
---------
6. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE 965,600
7. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITIONS --
8. SHARED POWER TO DIRECT THE
DISPOSITION 965,600
(E) MR. DAVIDSON CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN FIVE PERCENT OF THE COMMON
STOCK ON SEPTEMBER 24, 1998.
THOMAS L. KEMPNER, JR.
(A) AGGREGATE NUMBER OF SECURITIES OWNED 966,300*/
(B) PERCENTAGE 4.7%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE --
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE 966,300
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION --
4. SHARED POWER TO DIRECT THE
DISPOSITION 966,300
(E) MR. KEMPNER CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN FIVE PERCENT OF THE
COMMON STOCK ON SEPTEMBER 24, 1998
STEPHEN M. DOWICZ
(A) AGGREGATE NUMBER OF SECURITIES OWNED 966,300*/
(B) PERCENTAGE 4.7%
- --------
*/ INCLUDES 700 SHARES HELD BY THE M.H. DAVIDSON & CO.,
INC. 401(K) PLAN, OF WHICH MESSRS. KEMPNER, LEFFELL,
DOWICZ AND SCOTT DAVIDSON ARE THE TRUSTEES. EACH OF
MESSRS. KEMPNER, LEFFELL, DOWICZ AND SCOTT DAVIDSON
DISCLAIMS BENEFICIAL OWNERSHIP OF SUCH SHARES EXCEPT TO
THE EXTENT OF SUCH PERSONS INTEREST IN SUCH 401(K)
PLAN.
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 20 OF 25 PAGES
---------
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE --
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE 966,300
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION --
4. SHARED POWER TO DIRECT THE
DISPOSITION 966,300
(E) MR. DOWICZ CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN FIVE PERCENT OF THE
COMMON STOCK ON SEPTEMBER 24, 1998
SCOTT E. DAVIDSON
(A) AGGREGATE NUMBER OF SECURITIES OWNED 966,300*/
(B) PERCENTAGE 4.7%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE --
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE 966,300
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION --
4. SHARED POWER TO DIRECT THE
DISPOSITION 966,300
(E) MR. DAVIDSON CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN FIVE PERCENT OF THE
COMMON STOCK ON SEPTEMBER 24, 1998
- --------
*/ INCLUDES 700 SHARES HELD BY THE M.H. DAVIDSON & CO.,
INC. 401(K) PLAN, OF WHICH MESSRS. KEMPNER, LEFFELL,
DOWICZ AND SCOTT DAVIDSON ARE THE TRUSTEES. EACH OF
MESSRS. KEMPNER, LEFFELL, DOWICZ AND SCOTT DAVIDSON
DISCLAIMS BENEFICIAL OWNERSHIP OF SUCH SHARES EXCEPT TO
THE EXTENT OF SUCH PERSONS INTEREST IN SUCH 401(K)
PLAN.
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 21 OF 25 PAGES
---------
MICHAEL J. LEFFELL
(A) AGGREGATE NUMBER OF SECURITIES OWNED 966,300*/
(B) PERCENTAGE 4.7%
1. SOLE POWER TO VOTE OR TO DIRECT
THE VOTE --
2. SHARED POWER TO VOTE OR TO DIRECT
THE VOTE 966,300
3. SOLE POWER TO DISPOSE OR TO DIRECT
THE DISPOSITION --
4. SHARED POWER TO DIRECT THE
DISPOSITION 966,300
(E) MR. LEFFELL CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN FIVE PERCENT OF THE
COMMON STOCK ON SEPTEMBER 24, 1998
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 22 OF 25 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.
September 29, 1998
DAVIDSON KEMPNER PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER INSTITUTIONAL
PARTNERS, L.P.
By Davidson Kempner Advisers
Inc., its general partner
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
Secretary
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 23 OF 25 PAGES
---------
DAVIDSON KEMPNER ENDOWMENT PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
MHD MANAGEMENT CO.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER ADVISERS INC.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
Secretary
DAVIDSON KEMPNER INTERNATIONAL LTD.
By Davidson Kempner International
Advisors, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
DAVIDSON KEMPNER INTERNATIONAL
ADVISORS, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 24 OF 25 PAGES
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/s/ Marvin H. Davidson
----------------------
Marvin H. Davidson
/s/ Thomas L. Kempner, Jr.
--------------------------
Thomas L. Kempner, Jr.
/s/ Stephen M. Dowicz
---------------------
Stephen M. Dowicz
/s/ Scott E. Davidson
---------------------
Scott E. Davidson
/s/ Michael J. Leffell
----------------------
Michael J. Leffell
<PAGE>
SCHEDULE 13D
CUSIP NO. 655260107 PAGE 25 OF 25 PAGES
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APPENDIX II
Noel Group, Inc.
Transaction Schedule
For the sixty-day period ending September 29, 1998
Where/How
Price/ Transaction
Date Quantity Share ($) Buy/Sell Affected
---- -------- --------- -------- ---------
9/23/98 60,000 3.389 Sell Open Market
9/24/98 350,000 3.37375 Sell Open Market
