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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10 ).
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Cliffs Drilling Company
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
18682C100
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(CUSIP Number)
Joseph D. Lehrer, Esq.
10 S. Broadway, Suite 2000, St. Louis, MO 63102 (314) 241-9090
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 3, 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 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filed 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).
(Continued on following page(s))
Page 1 of 7 Pages
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CUSIP NO. 18682C100 13D PAGE 2 OF 7 PAGES
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================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John D. Weil, SS# ###-##-####
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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 PROCEEDINGS 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
SHARES
BENEFICIALLY 120,505, subject to the disclaimer contained in Item 5.
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 11,679, subject to the disclaimer contained in Item 5.
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9 SOLE DISPOSITIVE POWER
120,505, subject to the disclaimer contained in Item 5.
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10 SHARED DISPOSITIVE POWER
11,679, subject to the disclaimer contained in Item 5.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
233,678, subject to the disclaimer contained in Item 5.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
3.16%
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 18682C100 Page 3 of 7
AMENDMENT NO. 10 TO SCHEDULE 13D
The Reporting Person reported the acquisition of shares of the Common
Stock, $.01 par value ("Common Stock"), of Cliffs Drilling Company ("Issuer")
in an initial filing of this Schedule 13D on August 9, 1989, as amended by
Amendment No. 1 filed October 11, 1989, Amendment No. 2 filed January 29, 1991,
Amendment No. 3 filed December 22, 1993, Amendment No. 4 filed February 15,
1994, Amendment No. 5 filed April 8, 1994, Amendment No. 6 filed October 19,
1994, Amendment No. 7 filed January 20, 1995, Amendment No. 8 filed May 9, 1996
and Amendment No. 9 filed May 30, 1996. In this regard, Item 4, Item 5 and
Item 6 are hereby amended as follow. All other items are unchanged from the
initial filing, as amended.
ITEM 4. Purpose of the Transaction.
The owners listed in Item 5 purchased the Common Stock of the Issuer
for general investment purposes. The owners listed in Item 5 may acquire
additional shares of the Common Stock of the Issuer, based upon their
respective investment decisions. The Reporting Person has been a member of the
Board of Directors of the Issuer since August 8, 1989. It is not contemplated
that any of the acquisitions reported hereunder or any future acquisitions will
result in any change in the present management of the Issuer.
The owners listed in Item 5 have no present plans or proposals which relate to
or would result in:
(a) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or
any of its subsidiaries;
(b) a sale or transfer of a material amount of assets of the
Issuer or any of its subsidiaries;
(c) any change in the present board of directors or management of
the Issuer, including any plans or proposals to change
the number or term of directors or fill any existing vacancies
on the board;
(d) any material change in the present capitalization or dividend
policy of the Issuer;
(e) any other material change in the Issuer's business or
corporate structure;
(f) changes in the Issuer's charter, by-laws or instruments
corresponding thereto or other actions which may impede
the acquisition of control of the Issuer by any person;
(g) causing a class of securities of the Issuer to be delisted
from a national securities exchange or cease to be
quoted in an inter-dealer quotation system of a registered
national securities association;
(h) a class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section
12(g)(4) of the Securities Exchange Act; or
(i) any action similar to those enumerated above.
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CUSIP NO. 18682C100 Page 4 of 7
ITEM 5. Interest in Securities of the Issuer.
(a) Subject to the disclaimer of beneficial ownership hereinafter
set forth, the Reporting Person hereby reports beneficial
ownership of 233,678 shares of Common Stock in the manner
hereinafter described:
<TABLE>
<CAPTION>
Percentage of
Relationship to Number of Outstanding
Shares Held in Name of Reporting Person Shares Securities
---------------------- ---------------- ------- -------------
<S> <C> <C> <C>
John D. Weil Reporting Person 70,939 .96%
Mark S. Weil Brother 18,939 .26%
Richard K. Weil, Jr. Brother 24,772 .33%
Paula K. Weil Sister 25,666 .35%
RKW Management Services, L.P. Partnership 41,780 .57%
Controlled by
Reporting Person
Mark S. Weil and John D. Weil, Trustees for Nephew 3,893 .05%
Daniel D. Weil (Item 10 Trust)
Daniel D. Weil Nephew 6,393 .09%
Mark S. Weil and John D. Weil, Trustees for Nephew 3,893 .05%
Alexander P. Weil (Item 10 Trust)
Mark S. Weil, Trustee for Alexander P. Weil Trust for Nephew 7,151 .10%
Trust dated June 5, 1995
John D. Weil, Trustee for Victoria L. Weil (Item Daughter 3,893 .05%
10 Trust)
Victoria L. Weil Daughter 6,000 .08%
John D. Weil, Trustee for Gideon J. Weil (Item Son 3,893 .05%
10 Trust)
Gideon J. Weil Son 7,787 .11%
Richard K. Weil, Jr. and John D. Weil, Trustees Nephew 3,893 .05%
for Samuel J. G. Weil (Item 10 Trust)
Samuel J.G. Weil Nephew 2,893 .04%
Gabriel I. Weil Nephew 1,893 .03%
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TOTAL 233,678 3.16%
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</TABLE>
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CUSIP NO. 18682C100 Page 5 of 7
The foregoing percentages assume that the Issuer has 7,390,928 shares of
Common Stock outstanding.
All shares held in the name of family members or family trusts of the
Reporting Person are reported as beneficially owned by the Reporting Person
because those family members or trusts may seek investment advise or voting
advice of the Reporting Person. All shares held in the name of the partnership
controlled by the Reporting Person are reported as beneficially owned by the
Reporting Person because, as the sole shareholder of the corporate general
partner of such partnership, the Reporting Person has voting and investment
power with respect to the shares owned by such partnership. Except for Common
Stock held in the name of the Reporting Person, or in trust wherein the
Reporting Person is the trustee, or in the name of a partnership controlled by
the Reporting Person, there is no written document or agreement conferring the
right of the Reporting Person to acquire or dispose of the Stock or giving the
Reporting Person the right to vote such shares of Stock.
AS PROVIDED IN S.E.C. REGULATION SECTION 240.13d-4, THE REPORTING PERSON
HEREBY DECLARES THAT THIS STATEMENT SHALL NOT BE CONSTRUED AS AN ADMISSION THAT
HE IS, FOR THE PURPOSES OF SECTION 13(d) OR 13(g) OF THE SECURITIES EXCHANGE
ACT, THE BENEFICIAL OWNER OF THE SECURITIES COVERED BY THIS STATEMENT.
(b) Subject to the above disclaimer of beneficial ownership, for each
person named in paragraph (a), the number of shares as to which
there is sole power to vote or direct the vote, shared power to vote
or direct the vote, sole power to dispose or direct the disposition,
or shared power to dispose or direct the disposition, is the same as
in paragraph (a).
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CUSIP NO. 18682C100 Page 6 of 7
(c)
<TABLE>
<CAPTION>
Net
Price
Number of Per Transaction Made
Sale in the Name of Date Shares Share Through
------------------- ---- --------- ----- ----------------
<S> <C> <C> <C> <C>
Paula K. Weil 5/30/96 5,000 26.90 Jefferies & Co.
Richard K. Weil, Jr. 5/30/96 6,000 26.90 Jefferies & Co.
Mark S. Weil, Trustee for Alexander P. Weil 5/30/96 1,500 26.90 Jefferies & Co.
Trust dated June 5, 1995
Paula K. Weil 6/3/96 5,000 26.657 Jefferies & Co.
Richard K. Weil, Jr. 6/3/96 5,300 26.657 Jefferies & Co.
John D. Weil 6/3/96 13,200 26.657 Jefferies & Co.
John D. Weil 6/4/96 18,600 26.625 Jefferies & Co.
John D. Weil 6/5/96 5,200 26.563 Jefferies & Co.
Mark S. Weil, Trustee for Daniel D. Weil, ex. 6/5/96 3,000 26.563 Jefferies & Co.
by Richard K. Weil
John D. Weil, Trustee for Victoria L. Weil, 6/5/96 3,000 26.563 Jefferies & Co.
ex. by Richard K. Weil
John D. Weil, Trustee for Gideon J. Weil, ex. 6/5/96 3,000 26.563 Jefferies & Co.
by Richard K. Weil
John D. Weil 7/3/96 20,500 30.404 Jefferies & Co.
Paula K. Weil 7/3/96 10,000 30.404 Jefferies & Co.
Richard K. Weil, Jr. 7/3/96 10,000 30.404 Jefferies & Co.
Mark S. Weil 7/3/96 10,000 30.404 Jefferies & Co.
Mark S. Weil, Trustee for Daniel D. Weil, ex. 7/3/96 4,000 30.404 Jefferies & Co.
by Richard K. Weil
Mark S. Weil, Trustee for Alexander P. Weil, 7/3/96 3,000 30.404 Jefferies & Co.
ex. by Richard K. Weil
John D. Weil, Trustee for Victoria L. Weil, 7/3/96 4,000 30.404 Jefferies & Co.
ex. by Richard K. Weil
John D. Weil, Trustee for Gideon J. Weil, ex. 7/3/96 3,000 30.404 Jefferies & Co.
by Richard K. Weil
John D. Weil 7/8/96 10,000 31 5/8 Jefferies & Co.
(d) Not applicable.
(e) Not applicable.
</TABLE>
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CUSIP NO. 18682C100 Page 7 of 7
ITEM 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
The Reporting Person is Trustee of several of the trusts mentioned in Item
5. The Reporting Person is sole shareholder of the corporate general partner
of the partnership mentioned in Item 5. The Reporting Person is related to all
other persons mentioned in Item 5, including the trustees and beneficiaries of
all of the trusts mentioned in Item 5. The Reporting Person does not have any
agreements with respect to the securities of the Issuer.
ITEM 7. Material to be Filed as Exhibits.
None.
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.
/s/ John D. Weil
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John D. Weil
July 12, 1996
