UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
HOMEOWNERS GROUP, INC.
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
43739N107
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(CUSIP Number)
Howard L. Wolk, President
NAPAQ Corporation
4040 Mystic Valley Parkway
Boston, MA 02155
-with copies to-
Robert M. Rosen, Esq.
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts, 02110
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 6, 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. 43739N107 Page 2 of 6 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person NAPAQ Corporation
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* WC
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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 Nevada
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Number of 7 Sole Voting Power 126,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 126,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 126,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 2.266%
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14 Type of Reporting Person* PN
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*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. 43739N107 Page 3 of 6 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No.of Above Person
Cross Country Motor Club, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* WC
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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 Massachusetts
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Number of 7 Sole Voting Power 362,500
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 362,500
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 362,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 6.522%
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14 Type of Reporting Person* CO
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*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. 43739N107 Page 4 of 6 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Jeffrey C. Wolk
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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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 United States
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Number of 7 Sole Voting Power 3,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 3,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) .054%
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14 Type of Reporting Person* IN
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*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. 43739N107 Page 5 of 6
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THIS AMENDMENT NO. 4 RELATES TO THE SCHEDULE 13D ORIGINALLY FILED ON BEHALF OF
THE REPORTING PERSONS WITH THE COMMISSION ON APRIL 4, 1996. THE TEXT OF ITEM 4
OF SAID SCHEDULE 13D IS HEREBY AMENDED BY THE FOLLOWING:
ITEM 4. PURPOSE OF THE TRANSACTION
On November 6, 1996, the Issuer and The Cross Country Group, Inc. ("CCG"),
an affiliate of the Reporting Persons, entered into an amendment to the
Agreement and Plan of Merger dated May 14, 1996 (the "Merger Amendment") which
(i) reduced the price at which CCG will purchase all of the Issuer's outstanding
common stock from $2.35 to $2.06 in cash, and (ii) extended the deadline for the
closing date to no later than March 1, 1997.
As part of the Merger Amendment, the Issuer has amended its Rights Plan
(the "Rights Plan Amendment") to permit CCG and/or any of its affiliates to
purchase an unlimited number of shares in privately negotiated transactions. The
Rights Plan Amendment becomes effective November 13, 1996.
Contemporaneously with execution of the Merger Amendment, The Cross Country
Group, L.L.C. (the "LLC"), another affiliate of the Reporting Persons, purchased
for $2.75 million, the $5.2 million judgment obtained by Acceleration National
Insurance Company against Homeowners Marketing Services, Inc.("HMS"), a
wholly-owned subsidiary of the Issuer. The LLC has entered into an Agreement for
Satisfaction of Judgment (the "Satisfaction Agreement") with HMS pursuant to
which, the LLC has agreed not to take action to collect on the judgment until
January 31, 1997. If the Merger is consummated on or before January 31, 1997,
the LLC has agreed to accept approximately $2.75 million in complete
satisfaction of the entire outstanding amount of the judgment which is
approximately $4.2 million. If the Merger is not consummated by January 31,
1997, the LLC is entitled to seek enforcement of the entire outstanding amount
of the judgment.
CUSIP NO. 43739N107 Page 6 of 6
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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.
NAPAQ Corporation
By: /s/ Howard L. Wolk
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Howard L. Wolk , President
Cross Country Motor Club, Inc.
By: /s/ Howard L. Wolk
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Howard L. Wolk, Vice President
/s/ Jeffrey C. Wolk
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Jeffrey C. Wolk
Dated as of: November 12, 1996
