<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
ADT Limited
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Shares, $.10 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
000915108
- --------------------------------------------------------------------------------
(CUSIP Number)
Eli D. Schoenfield, Esq.
Kay Collyer & Boose LLP
One Dag Hammarskjold Plaza
New York, New York 10017
(212) 940-8200
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 7, 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> 2
SCHEDULE 13D
CUSIP NO. 000915108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael A. Ashcroft
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BELIZE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 11,525,000 See Item 5(b).
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 718
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
11,525,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
<PAGE> 3
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,525,718
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 4
Michael A. Ashcroft hereby amends and supplements his Statement on
Schedule 13D originally filed by him on March 28, 1997 (the "Statement") with
respect to the common shares, $.10 par value per share (the "Common Shares") of
ADT Limited (the "Company"). Unless otherwise indicated, capitalized terms not
defined herein shall have the meanings assigned to them in the Statement.
Item 1. Security and Issuer.
No material change.
Item 2. Identity and Background.
No material change.
Item 3. Source and Amount of Funds or Other Consideration.
No funds were used to effect the transactions described in this statement,
which consist of the expiration of a proxy to vote shares.
Item 4. Purpose of Transaction.
No material change.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and supplemented as follows:
(a) - (b) At the date hereof, Mr. Ashcroft beneficially owns 11,525,718
Common Shares (which includes 10,150,000 options), representing approximately
7% of the 157,157,524 Common Shares, including 3,182,787 Common Shares owned by
a subsidiary of the Company, reported by the Company to be outstanding as of
May 16, 1997. At the date hereof, Mr. Ashcroft has sole power to vote
11,525,000 Common Shares, and Mr. Ashcroft shares power to vote 718 Common
Shares (which are shares owned by Mr. Ashcroft's wife). Mr. Ashcroft has the
sole power to dispose of 11,525,000 Common Shares.
(c) On May 7, 1997 Republic Industries, Inc., a Delaware corporation
("Republic"), anounced that it had sold to five institutional buyers the
15,000,000 Common Shares (the "Republic Common Shares") which it had purchased
on March 21, 1997 through its wholly-owned subsidiary Triangle Corporation
("Triangle"). Upon such purchase, Triangle had granted to the Chairman of the
Board of the Company (who was at that date and is at the date hereof, Mr.
Ashcroft) an irrevocable proxy to vote, at any meeting of the Company's
shareholders, the Republic Common Shares. The proxy was to expire as to any of
the Republic Common Shares. The proxy was to expire as to any of the Republic
Common Shares on the earlier of (i) September 27, 1998 and (ii) the date
<PAGE> 5
such shares are no longer held by Republic or any of its affiliates or
nominees. Accordingly, the sale by Republic of the Republic Common Shares
effected an expiration of the proxy, and Mr. Ashcroft's right to vote the
Republic Common Shares under the proxy terminated.
(d) No material change.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationship With respect to Securities of the Issuer.
No material change.
Item 7. Materials to be Filed as Exhibits.
No material change.
<PAGE> 6
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.
May 27, 1997
/s/ Michael A. Ashcroft
------------------------------
Michael A. Ashcroft
