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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
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(Last) (First) (Middle)
Millennium Chemicals Inc.
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(Street)
99 Wood Avenue South
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(City) (State) (Zip)
Iselin NJ 08830
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2. Issuer Name and Ticker or Trading Symbol
Smith Corona Corporation (SCCO)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
22-343-6215
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4. Statement for Month/Year
August/1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Warrant 8/26/97 S 6,500 8/28/97 2/28/99 (1) (2) 1-1/4 717,500 I (3)
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</TABLE>
Explanation of Responses:
1. Common Stock $0.01 par value per share. Each Warrant is exercisable to
purchase one share of common stock, par value $0.01 per share ("New Common
Stock") of Smith Corona Corporation, a Delaware corporation (the "Company"),
at an exercise price of $8.50 per share of New Common Stock, subject to
adjustment. The shares of common stock of the Company formerly owned by the
Beneficial Owners (the "Old Common Stock") were cancelled pursuant to the
Company's Third Amended Second Joint Plan of Reorganization under Chapter 11
of the United States Bankruptcy Code, and the Warrants were issued
thereunder, in the ratio of one Warrant for every twenty cancelled shares of
Old Common Stock.
2. The Beneficial Owners owned 724,000 Warrants prior to the sale of 6,500
Warrants on 8/26/97. Such Warrants were exercisable for 724,000 shares of
New Common Stock. As a result of the sale, the Beneficial Owners own
717,500 Warrants, exercisable for 717,500 shares of New Common Stock.
3. See attached Schedule A for names and business addresses of other Reporting
Persons.
/s/ Millennium Chemicals Inc. September 10, 1997
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
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Schedule A
Set forth below are the names and business addresses of the other Reporting
Persons:
Millennium Overseas Holdings Limited
c/o Travers Smith Braithwaite
10 Snow Hill
London, England EC1A 2AL
Millennium America Holdings Inc.
99 Wood Avenue South
Iselin, New Jersey 08830
Millennium America Inc.
Meadowood II Shopping Center
2644 Capitol Trail
Suite B-1
Newark, Delaware 19711
Millennium Holdings Inc.
Meadowood Shopping Center
2644 Capitol Trail
Suite B-1
Newark, Delaware 19711
Millennium Inorganic Chemicals Inc.
200 International Circle
Suite 5000
Hunt Valley, Maryland 21030
HMB Holdings Inc.
Meadowood II Shopping Center
2644 Capitol Trail
Suite B-1
Newark, Delaware 19711
* MHC Inc.
Meadowood II Shopping Center
2644 Capitol Trail
Suite B-1
Newark, Delaware 19711
* ______________________________
Direct Owner
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After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule A is true, complete and
correct.
Dated: September 9, 1997
MILLENNIUM OVERSEAS HOLDINGS LIMITED
By: /s/ George H. Hempstead, III
Director
MILLENNIUM AMERICA HOLDINGS LIMITED
MILLENNIUM AMERICA INC.
MILLENNIUM HOLDINGS INC.
MHC INC.
By: /s/ George H. Hempstead, III
Senior Vice President, Secretary
and General Counsel
MILLENNIUM INORGANIC CHEMICALS INC.
By: /s/ George H. Hempstead, III
Vice President and Assistant
Secretary
HMB HOLDINGS INC.
By: /s/ George H. Hempstead, III
Senior Vice President and
Secretary
