<PAGE>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
----
Tremont Corporation
-------------------------------------------------------------
(Name of Issuer)
Common Stock
---------------------------------------------------
(Title of Class of Securities)
894745207
-----------------------------------------
(CUSIP Number)
Jonathan M. Glaser, 1999 Avenue of the Stars, #1950, LA, CA 90026
-----------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
10/17/97
------------------------------------------------------
(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 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).
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 2 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JMG Capital Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 3 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JMG Convertible Investments, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 4 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JMG Capital Management, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 5 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan M. Glaser
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States of America
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 6 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TRITON CAPITAL INVESTMENTS, LTD.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 7 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Triton Capital Holdings, Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 894745207 SCHEDULE 13D PAGE 8 OF 20 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pacific Capital Management
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,800
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.15%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1. SECURITY AND ISSUER
The equity securities to which this statement relates are Common Stock, par
value $1.00 per share (the "Common Stock"), of Tremont Corporation ("TRE"), a
Delaware corporation with its principal executive officers at 1999 Broadway,
Suite 4300, Denver CO 80202. At [April 30, 1997], TRE had outstanding 6,900,000
shares of Common Stock, according to information provided to the Reporting
Persons (as defined below) by TRE on October 20, 1997.
ITEM 2. IDENTITY AND BACKGROUND
(a) The present principal occupation or employment of each of the
Reporting Persons is as follows:
JMG Private investment partnership
JMG Conv. Private investment partnership
TRITON Private investment partnership
Glaser Chief Executive Officer, Chief Financial
Officer, and Secretary of Management
and Vice-President of PCM.
Management General partner of JMG and JMG Conv.
PCM Investment manager of TRITON
Triton Holding Holding corporation for TRITON
(b) This statement is filed by (I) JMG Capital Partners, L.P., a
California limited partnership ("JMG"), (II) JMG Convertible Investments, L.P.,
a California limited partnership ("JMG Conv."), (III) JMG Capital Management,
Inc., a California Corporation ("Management"), (IV) Jonathan M. Glaser, an
individual ("Glaser"), (V) Triton Capital Investments, Ltd., a British Virgin
Islands corporation ("TRITON") (VI) Triton Capital Holding Ltd., a British
Virgin Islands corporation ("Triton Holding") and (VII) Pacific Capital
Management, Inc., a Delaware corporation ("PCM") (collectively, the "Reporting
Persons"). JMG and JMG Conv. are private investment partnerships engaging in
the purchase and sale of securities for investment and for their own account.
Management is the sole general partner of JMG and JMG Conv. Glaser is the sole
stockholder, officer and director of Management. PCM is the investment advisor
to TRITON pursuant to an investment management agreement. Glaser owns 50% of
the stock of PCM and is an officer and director of PCM. Glaser is in a position
to determine the investment and voting decisions made by Management and PCM and,
consequently by JMG, JMG Conv. and TRITON. Triton Holding is a holding
corporation owning 100% of the capital stock of Triton. Therefore, Glaser is
the beneficial owner of the shares acquired by JMG, JMG Conv. and TRITON and the
Reporting Persons may be deemed to be a "group" within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934 (the "Act") with respect to the shares
acquired by JMG, JMG Conv. and TRITON.
-9-
<PAGE>
(c) The business address of each of JMG, JMG Conv., Management, PCM and
Glaser is:
1999 Avenue of the Stars, Suite 1950
Los Angeles, CA 90067
(d) The business address of each of TRITON and Triton Holding is:
Kaya Flamboyan 9
Curacao, Netherland Antilles
(e) During the last five years, none of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(f) During the last five years, none of the Reporting Persons has been a
party in a civil proceeding of a judicial or administrative body of competent
jurisdiction resulting in its or his being 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.
(g) Glaser is a citizen of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate purchase price (including commissions, if any) for the shares
of Common Stock reported on this Schedule 13D as held by the Reporting Persons
was Fourteen Million Six Hundred Twenty-Eight Thousand Five Hundred Forty-One
Dollars ($14,628,541.00). The shares reported herein as beneficially owned by
the Reporting Persons were purchased with working investment capital.
ITEM 4. PURPOSE OF TRANSACTION
The shares of Common Stock reported herein were acquired for investment
purposes. Depending upon the Reporting Persons' continuing evaluation of
Tremont's business and other relevant information, the Reporting Persons may,
from time to time, purchase additional shares of Common Stock on the open market
or in privately negotiated transactions or otherwise. The Reporting Persons
have no present intention of selling any shares of Common Stock but reserve the
right to do so, in whole or in part, at any time, in open market transactions,
privately negotiated transactions or otherwise. The Reporting Persons have no
plans or proposals which relate to, or could result in, any of the matters
referred to in paragraphs (b) through (j), inclusive, of Item 4 of Schedule13D.
-10-
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date hereof, JMG Conv. is the direct, beneficial owner of
57,800 shares of Common Stock of Tremont, which constitutes 0.8% of the
outstanding shares of Common Stock based upon the number of shares of Common
Stock reported in by Tremont on October 20, 1997. JMG is the direct, beneficial
owner of 46,200 Shares of Common Stock, which constitutes 0.6% of the
outstanding shares of Common Stock (based upon the number of shares that were
reported to be outstanding by Tremont on October 20, 1997. TRITON is the
direct, beneficial owner of 251,800 Shares of Common Stock, which constitutes
3.6% of the outstanding shares of Common Stock (based upon the number of shares
that were reported to be outstanding by TRE on October 20, 1997. Management
does not directly own any Common Stock but, by virtue of its position as the
general partner of JMG and JMG Conv., may be deemed to own beneficially the
Shares of Common Stock held by JMG and JMG Conv. Glaser does not directly own
any shares of Common Stock, but, by virtue of his control over the investment
and voting decisions of (i) Management and PCM (and, therefore, JMG, JMG Conv.
and TRITON), Glaser may be deemed to own beneficially the Shares of Common Stock
held by JMG, JMG Conv. and TRITON. Therefore, Glaser is the indirect beneficial
owner of Shares of Common Stock which constitutes 5.15% of the outstanding
shares of Common Stock.
(b) Management and Glaser may be deemed to share the power to vote or to
direct the vote and to dispose or to direct the disposition of the shares of
Common Stock held by JMG, JMG Conv. and Triton. Triton Holding and PCM may be
deemed to share the power to vote or to direct the vote or to dispose or direct
the disposition of the shares of Common Stock held by TRITON.
(c) The following table sets forth the transactions effected by JMG, JMG
Conv. and TRITON during the past sixty days. Each of the transactions set forth
below reflects a purchase or sale affected by means of an over-the-counter
trade. The Price Per Share includes commissions, if any.
<TABLE>
<CAPTION>
TRADE DATE BUY/SELL PRICE PER NUMBER OF SHARES ENTITY ENGAGING
SHARE PURCHASED OR SOLD IN TRANSACTION
- ---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8/18/97 B 46.5764 1,000.000 JMG
9/19/97 S 55.8750 1,000.000 JMG
9/22/97 S 55.8750 1,000.000 JMG
9/02/97 S 53.6875 1,000.000 JMG Conv.
9/03/97 S 54.1842 1,900.000 JMG Conv.
10/01/86 B 57.8750 500.000 JMG Conv.
</TABLE>
-11-
<PAGE>
<TABLE>
<CAPTION>
PRICE PER NUMBER OF SHARES ENTITY ENGAGING
TRADE DATE BUY/SELL SHARE PURCHASED OR SOLD IN TRANSACTION
- ------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10/14/97 B 55.1250 1,500.000 JMG Conv.
10/15/97 B 55.4375 1,000.000 JMG Conv.
10/16/97 B 55.2500 1,500.000 JMG Conv.
8/18/97 B 46.62 1,700.000 TRITON
8/19/97 B 47.53 1,000.000 TRITON
8/19/97 B 46.73 3,000.000 TRITON
8/20/97 B 49.04 500.000 TRITON
8/20/97 B 48.56 5,200.000 TRITON
8/21/97 B 48.71 100.000 TRITON
8/21/97 B 48.9 100.000 TRITON
8/21/97 B 49.02 500.000 TRITON
8/21/97 B 49.02 500.000 TRITON
8/21/97 B 49.52 500.000 TRITON
8/22/97 B 49.52 200.000 TRITON
822/97 B 49.77 500.000 TRITON
8/22/97 B 50.02 500.000 TRITON
8/22/97 B 50.02 1,100.000 TRITON
8/25/97 B 50.29 200.000 TRITON
8/25/97 B 50.41 200.000 TRITON
8/25/97 B 50.66 200.000 TRITON
8/26/97 B 50.96 200.000 TRITON
8/27/97 B 52.02 100.000 TRITON
8/27/97 B 53.52 100.000 TRITON
8/27/97 B 51.52 500.000 TRITON
8/27/97 B 51.77 500.000 TRITON
</TABLE>
-12-
<PAGE>
<TABLE>
<CAPTION>
PRICE PER NUMBER OF SHARES ENTITY ENGAGING
TRADE DATE BUY/SELL SHARE PURCHASED OR SOLD IN TRANSACTION
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8/27/97 B 52.14 500.000 TRITON
8/27/97 B 52.39 500.000 TRITON
8/27/97 B 53.27 500.000 TRITON
8/27/97 B 51.27 2,000.000 TRITON
8/27/97 B 52.72 2,000.000 TRITON
9/03/97 S 54.11 700.000 TRITON
9/03/97 S 54.11 1,000.000 TRITON
9/03/97 S 54.11 300.000 TRITON
9/03/97 S 54.11 700.000 TRITON
9/03/97 S 54.11 1,600.000 TRITON
9/03/97 S 54.11 700.000 TRITON
9/05/97 B 53.84 200.000 TRITON
9/08/97 B 54.21 500.000 TRITON
9/08/97 B 54.65 500.000 TRITON
9/10/97 B 54.66 100.000 TRITON
9/11/97 B 54.77 200.000 TRITON
9/19/97 S 55.97 1,000.000 TRITON
9/22/97 S 55.86 300.000 TRITON
9/22/97 S 55.86 4,700.000 TRITON
9/25/97 B 56.71 200.000 TRITON
9/26/97 B 57.65 100.000 TRITON
9/26/97 B 56.90 500.000 TRITON
9/26/97 B 57.15 500.000 TRITON
9/26/97 B 57.90 500.000 TRITON
9/29/97 B 58.54 500.000 TRITON
</TABLE>
-13-
<PAGE>
<TABLE>
<CAPTION>
PRICE PER NUMBER OF SHARES ENTITY ENGAGING
TRADE DATE BUY/SELL SHARE PURCHASED OR SOLD IN TRANSACTION
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10/01/97 B 57.71 500.000 TRITON
10/01/97 B 57.83 500.000 TRITON
10/01/97 B 58.08 500.000 TRITON
10/03/97 B 57.53 200.000 TRITON
10/03/97 B 57.78 200.000 TRITON
10/03/97 B 57.91 300.000 TRITON
10/08/97 B 57.78 500.000 TRITON
10/08/97 B 57.84 500.000 TRITON
10/16/97 B 55.29 1,000.000 TRITON
10/16/97 B 55.27 2,000.000 TRITON
10/17/97 B 54.27 3,400.000 TRITON
10/17/97 B 54.37 7,500.000 TRITON
</TABLE>
(d) To the best of Reporting Person's knowledge, no other person has the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any shares of Tremont, which the Reporting Persons
may be deemed to own beneficially.
(e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE COMPANY.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
(a) Joint Acquisition Statement.
-14-
<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.
Date: November 12, 1997 JMG Capital Partners, L.P.
By: JMG Capital Management, Inc.
General Partner
By: /s/ Jonathan M. Glaser
_________________________________
Jonathan M. Glaser
JMG Convertible Investments, L.P.
By: JMG Capital Management, Inc.
General Partner
By: /s/ Jonathan M. Glaser
_________________________________
Jonathan M. Glaser
JMG Capital Management, Inc.
By: /s/ Jonathan M. Glaser
_________________________________
Jonathan M. Glaser
President
/s/ Jonathan M. Glaser
______________________________________
Jonathan M. Glaser
[SIGNATURES CONTINUED]
-15-
<PAGE>
Triton Capital Investments, Ltd.
By: _________________________________
Anthony Stocks
Director
/s/ Kieran Conroy
By: _________________________________
Kieran Conroy
Director
Triton Capital Holding, Ltd.
By: _________________________________
Anthony Stocks
Director
/s/ Kieran Conroy
By: _________________________________
Kieran Conroy
Director
Pacific Capital Management, Inc.
/s/ Jonathan Glaser
By: _________________________________
Jonathan Glaser
Vice-President
-16-
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE
- --------------------------------------------------------------------------------
1. Joint Acquisition Statement 18
-17-
<PAGE>
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-1(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned without the necessity
of filing additional joint acquisition statements. The undersigned acknowledge
that each shall be responsible for the timely filing of such amendments, and for
the completeness and accuracy of the information concerning him or it contained
herein, but shall not be responsible for the completeness and accuracy of the
information concerning the other, except to the extent that he or it knows or
has reason to believe that such information is inaccurate.
Date: November 12, 1997 JMG Capital Partners, L.P.
By: JMG Capital Management, Inc.
General Partner
/s/ Jonathan M. Glaser
By: _________________________________
Jonathan M. Glaser
JMG Convertible Investments, L.P.
By: JMG Capital Management, Inc.
General Partner
/s/ Jonathan M. Glaser
By: _________________________________
Jonathan M. Glaser
[SIGNATURES CONTINUED]
-18-
<PAGE>
JMG Capital Management, Inc.
/s/ Jonathan M. Glaser
By: _________________________________
Jonathan M. Glaser
President
/s/ Jonathan M. Glaser
_______________________________________
Jonathan M. Glaser
Triton Capital Investments, Ltd.
By: _________________________________
Anthony Stocks
Director
/s/ Kieran Conroy
By: _________________________________
Kieran Conroy
Director
Triton Capital Holding, Ltd.
By: _________________________________
Anthony Stocks
Director
/s/ Kieran Conroy
By: _________________________________
Kieran Conroy
Director
[SIGNATURES CONTINUED]
-19-
<PAGE>
Pacific Capital Management, Inc.
/s/ Jonathan Glaser
By: _________________________________
Jonathan Glaser
Vice-President
-20-
