UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
STOLT-NIELSEN S.A.
(NAME OF ISSUER)
COMMON SHARES
(TITLE OF CLASS OF SECURITIES)
L 88742 108
(CUSIP Number)
ALAN B. WINSOR, ESQ. WITH COPIES TO:
STOLT-NIELSEN INC. DONALD P. MADDEN, ESQ.
8 SOUND SHORE DRIVE WHITE & CASE
POST OFFICE BOX 2300 1155 AVENUE OF THE AMERICAS
GREENWICH, CT 06836 NEW YORK, NY 10036
203-625-3667 212-819-8800
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS)
SEPTEMBER 1, 1997
(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 / /.
<PAGE>
SCHEDULE 13D
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CUSIP No. [L 88742 108]
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JACOB STOLT-NIELSEN, 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
OO
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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
NORWEGIAN
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NUMBER OF SHARES BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY EACH REPORTING PERSON 21,647
WITH --------------------------------------------
8 SHARED VOTING POWER
18,003,437
--------------------------------------------
9 SOLE DISPOSITIVE POWER
21,647
--------------------------------------------
10 SHARED DISPOSITIVE POWER
18,003,437
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,025,084
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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)
61.0%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
SCHEDULE 13D
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CUSIP No. [L 88742 108]
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ANSBACHER (CAYMAN) LIMITED
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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
OO
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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
CAYMAN ISLANDS
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NUMBER OF SHARES BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY EACH REPORTING PERSON 0
WITH --------------------------------------------
8 SHARED VOTING POWER
18,003,437
--------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------
10 SHARED DISPOSITIVE POWER
18,003,437
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,003,437
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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)
61.0%
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14 TYPE OF REPORTING PERSON
CO
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<PAGE>
SCHEDULE 13D
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CUSIP No. [L 88742 108]
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CAYMAN INTERNATIONAL TRUST COMPANY LIMITED
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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
OO
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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
CAYMAN ISLANDS
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NUMBER OF SHARES BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY EACH REPORTING PERSON 0
WITH --------------------------------------------
8 SHARED VOTING POWER
18,003,437
--------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------
10 SHARED DISPOSITIVE POWER
18,003,437
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,003,437
- --------------------------------------------------------------------------------
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)
61.0%
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14 TYPE OF REPORTING PERSON
CO
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<PAGE>
SCHEDULE 13D
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CUSIP No. [L 88742 108]
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIDUCIA LTD.
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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
OO
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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
BERMUDA
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NUMBER OF SHARES BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY EACH REPORTING PERSON 0
WITH --------------------------------------------
8 SHARED VOTING POWER
18,003,437
--------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------
10 SHARED DISPOSITIVE POWER
18,003,437
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,003,437
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.0%
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14 TYPE OF REPORTING PERSON
CO
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<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement on Schedule 13D relates to the Common Shares (the
"Common Shares") of Stolt-Nielsen S.A. ("SNSA"), the principal executive offices
of which are located at c/o Stolt-Nielsen Limited, Aldwych House, 71-91 Aldwych,
London WC28-4HN, England.
ITEM 2. IDENTITY AND BACKGROUND
This statement on Schedule 13D is being filed by Mr. Jacob
Stolt-Nielsen, Jr. ("Mr. Stolt-Nielsen"), Ansbacher (Cayman) Limited
("Ansbacher"), Cayman International Trust Company Limited ("CIT", and together
with Ansbacher, the "Trustees") and Fiducia Ltd. ("Fiducia" and, together with
Mr. Stolt-Nielsen and the Trustees, the "Reporting Persons").
The attached Schedule A is a list of the executive officers and
directors of Fiducia which contains the following information with respect to
each such person: (i) name; (ii) business address; (iii) present principal
occupation or employment and the name, principal business and address of any
corporation or other organization in which such employment is conducted; and
(iv) citizenship.
During the last five years, none of the Reporting Persons and, to the
best knowledge of Fiducia, none of the persons named on Schedule A hereto has
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which such person
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No funds were used to acquire the Common Shares. Mr. Stolt-Nielsen and
members of his immediate family contributed the Common Shares to Fiducia in
exchange for shares of Fiducia. Mr. Stolt-Nielsen and such family members
transferred the shares of Fiducia to the Trustees to be held in trust for the
benefit of the Stolt-Nielsen family.
ITEM 4. PURPOSE OF THE TRANSACTION
This filing is the result of the reorganization of the ownership
structure of the Common Shares held by the Stolt-Nielsen family. Previous
filings relating to the ownership of the Common Shares by Mr. Stolt-Nielsen were
filed on Schedule 13G and amendments thereto.
None of the Reporting Persons and, to the best knowledge of Fiducia,
none of the persons set forth on Schedule A, has any current plans or proposals
that relate to or would result in (a) the acquisition by any person of
additional securities of SNSA or the disposition of securities of SNSA; (b) an
extraordinary corporate transaction, such as a merger, reorganization or
liquidation of SNSA or any of its subsidiaries; (c) a sale or transfer of a
material amount of assets of SNSA or any of its subsidiaries; (d) any change in
the present board of directors or management of SNSA, including any plans or
proposals to change the number or term of directors or to fill any existing
vacancies on the board; (e) any material change in the present capitalization or
dividend policy of SNSA; (f) any other material change in SNSA's business or
corporate structure; (g) changes in SNSA's charter, by-laws or instruments
corresponding thereto, or other actions which may impede the acquisition of the
control of SNSA by any person; (h) any of SNSA's securities being delisted from
a national securities exchange or ceasing to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) any of SNSA's equity securities becoming eligible for termination of
registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, as amended; or (j) any action similar to any of those enumerated above.
Notwithstanding the foregoing, the Reporting Persons may in the future
determine to acquire additional Common Shares or to dispose of Common Shares in
the ordinary course of managing their businesses and investment portfolios or
meeting their fiduciary obligations.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) (i) Mr. Stolt-Nielsen may be deemed the beneficial owner of Common
Shares as set forth on the applicable cover page.
(ii) Ansbacher may be deemed the beneficial owner of Common Shares as
set forth on the applicable cover page.
(iii) CIT may be deemed the beneficial owner of Common Shares as set
forth on the applicable cover page.
(iv) Fiducia may be deemed the beneficial owner of Common Shares as
set forth on the applicable cover page.
(v) Of the persons listed in Schedule A, the following are the
beneficial owners of Common Shares in amounts shown next to their names:
Jacob Stolt-Nielsen, Jr. 21,647
Jacob B. Stolt-Nielsen 26,400
Niels Gregers Stolt-Nielsen 6,200
(b) Reference is made to the applicable cover page for each Reporting
Person for information concerning the number of shares as to which there is sole
or shared power to vote or to direct the vote or sole or shared power to dispose
or to direct the disposition.
The Board of Directors of Fiducia has granted a power of attorney to
Mr. Stolt-Nielsen to vote the Common Shares held by Fiducia and to act on behalf
of Fiducia at any meeting of the shareholders of SNSA.
Except as noted in the immediately preceding paragraph, where the
power to vote or to direct the vote of Common Shares is shared, the Reporting
Person shares such power with the other Reporting Persons. Where the power to
dispose or to direct the disposition of Common Shares is shared, the power is
shared with the other Reporting Persons.
(c) Through a series of transfers completed in 1997, Mr. Stolt-Nielsen
and members of his family transferred substantially all Common Shares held by
them to Fiducia in exchange for shares of Fiducia, which were then transferred
to the Trustees, who hold such shares in substantially equal amounts in trust
for the benefit of the Stolt-Nielsen family.
(d) All dividends received on Common Shares described in this Schedule
13D and proceeds from the sale thereof are received by Fiducia for the benefit
of the shareholders of Fiducia.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
The Board of Directors of Fiducia has granted a power of attorney to
Mr. Stolt-Nielsen to vote the Common Shares held by Fiducia and to act on behalf
of Fiducia at any meeting of the shareholders of SNSA.
<PAGE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS:
Exhibit No. Description
1 Consent of Ansbacher (Cayman) Limited
2 Consent of Cayman International Trust Company
Limited
3 Consent of Fiducia Ltd.
<PAGE>
SIGNATURE
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.
Dated: February 17, 1998
/s/ Jacob Stolt-Nielsen, Jr.
--------------------------------
Jacob Stolt-Nielsen, Jr.
<PAGE>
SCHEDULE A
I. FIDUCIA
Each person named below is a director or executive officer of Fiducia:
<TABLE>
<CAPTION>
PRESENT PRINCIPAL OCCUPATION OR
NAME AND CITIZENSHIP BUSINESS ADDRESS EMPLOYMENT
<S> <C> <C>
Jacob Stolt-Nielsen, Jr. c/o Stolt-Nielsen Limited Chairman of the Board of
Norwegian Aldwych House Stolt-Nielsen S.A.
71-91 Aldwych
London WC2B 4HN, ENGLAND
Jacob B. Stolt-Nielsen c/o Stolt-Nielsen A.S. President, Terminal Division
Norwegian Grev Wedels Plass 5 of Stolt-Nielsen S.A.
P.O. Box 370 Sentrum
0102 Oslo, NORWAY
Niels Gregers Stolt-Nielsen Stolt Sea Farm A.S. President, Seafood Division
Norwegian Grev Wedels Plass 5 of Stolt-Nielsen S.A.
P.O. Box 370 Sentrum
0102 Oslo, NORWAY
John G. Wakely Stolt Tank Containers Chairman, Stolt Tank Containers
British Leasing Ltd. Leasing Ltd.
British American Building
133 Front Street - 4th floor
P.O. Box HM 3143
Hamilton HM-12, BERMUDA
John M. Sharpe Conyers, Dill & Pearman Attorney - Bermuda
Bermudan Clarendon House
2 Church Street
P.O. Box HM 666
Hamilton HM CX, BERMUDA
Malcom C. Furbert Conyers, Dill & Pearman Attorney - Bermuda
Bermudan Clarendon House
2 Church Street
P.O. Box HM 666
Hamilton HM CX, BERMUDA
Catharine J. Lymbery Conyers, Dill & Pearman Attorney - Bermuda
Bermudan Clarendon House
2 Church Street
P.O. Box HM 666
Hamilton HM CX, BERMUDA
Charles G. Collis Conyers, Dill & Pearman Attorney - Bermuda
Bermudan Clarendon House
2 Church Street
P.O. Box HM 666
Hamilton HM CX, BERMUDA
</TABLE>
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
1 Consent of Ansbacher (Cayman) Limited
2 Consent of Cayman International Trust
Company Limited
3 Consent of Fiducia Ltd.
<PAGE>
EXHIBIT 1
Consent of Ansbacher (Cayman) Limited
The undersigned agrees that the Schedule 13D executed by Jacob
Stolt-Nielsen, Jr. to which this statement is attached as an exhibit is filed on
behalf of Jacob Stolt-Nielsen, Jr., Ansbacher (Cayman) Limited, Cayman
International Trust Company Limited and Fiducia Ltd. pursuant to Rule
13d-1(f)(1) of the Securities Exchange Act of 1934.
Dated: February 17, 1998
ANSBACHER (CAYMAN) LIMITED
By: /s/ G. Crossan
-----------------------------
Name: G. Crossan
Title: Authorized Signatory
By: /s/ J. Bryan Bothwell
-----------------------------
Name: J. Bryan Bothwell
Title: Authorized Signatory
<PAGE>
EXHIBIT 2
Consent of Cayman International Trust Company Limited
The undersigned agrees that the Schedule 13D executed by Jacob
Stolt-Nielsen, Jr. to which this statement is attached as an exhibit is filed on
behalf of Jacob Stolt-Nielsen, Jr., Ansbacher (Cayman) Limited, Cayman
International Trust Company Limited and Fiducia Ltd. pursuant to Rule
13d-1(f)(1) of the Securities Exchange Act of 1934.
Dated: February 17, 1998
CAYMAN INTERNATIONAL TRUST
COMPANY LIMITED
By: /s/ G. Crossan
--------------------------
Name: G. Crossan
Title: Authorized Signatory
By: /s/ J. Bryan Bothwell
--------------------------
Name: J. Bryan Bothwell
Title: Authorized Signatory
<PAGE>
EXHIBIT 3
Consent of Fiducia Ltd.
The undersigned agrees that the Schedule 13D executed by Jacob
Stolt-Nielsen, Jr. to which this statement is attached as an exhibit is filed on
behalf of Jacob Stolt-Nielsen, Jr., Ansbacher (Cayman) Limited, Cayman
International Trust Company Limited and Fiducia Ltd. pursuant to Rule
13d-1(f)(1) of the Securities Exchange Act of 1934.
Dated: February 17, 1998
FIDUCIA LTD.
By: /s/ J.G. Wakely
---------------------------
Name: J.G. Wakely
Title: Chairman
