SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
FINET HOLDINGS CORPORATION
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
317922201
(CUSIP Number)
Roger S. Mertz, Esq.
Severson & Werson
One Embarcadero Center, 26th Floor
San Francisco, CA 94111
(415) 398-3344
(Name, Address and Telephone Number
of Person Authorized to Receive Notices
and Communications)
October 10, 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 { }.
Check the following box if a fee is being paid with the statement { }.
<PAGE>
SCHEDULE 13D
CUSIP No. 317922201
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jose Maria Salema Garcao and Maria Luisa Garcao
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
a { }
b { }
3. SEC USE ONLY
4. SOURCE OF FUNDS*
PF for each reporting person
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
{ }
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Each reporting person has Portuguese citizenship.
NUMBER OF 7. SOLE VOTING POWER
SHARES Jose Salema has sole voting power
over the 9,842,700 shares
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY None
EACH 9. SOLE DISPOSITIVE POWER
REPORTING None
PERSON WITH 10. SHARED DISPOSITIVE POWER
Jose Maria Salema Garcao and Maria
Luisa arcao share the power to dispose
of the 9,842,700 shares
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,842,700 (of which 4,700,000 represent Common Stock
Purchase Warrants)
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
{ }
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.05%
14. TYPE OF REPORTING PERSON*
IN (both reporting persons are individuals)
Schedule 13D Amendment No. 3 dated October 20, 1997, filed by Jose
Maria Salema Garcao and Maria Luisa Garcao regarding the Common Stock of Finet
Holdings Corporation.
ITEM 1 -- Security and Issuer:
Finet Holdings Corporation
Executive Office Address:
3021 Citrus Circle, Suite 150
Walnut Creek, California 94598
ITEM 2 -- Identity and background
a. Name: Jose Maria Salema Garcao and Maria Luisa Garcao
b. Residence or Business Address:
Quinta Da Marinha
Lote CT-14
2750 Cascais, Portugal
c. Present principal occupation and name of employer:
Management of joint investment portfolio
d. Criminal Convictions: None
e. Civil Judgments, etc.: None
f. Citizenship: Portugal for both
ITEM 3.-- Source and Amount of Funds or Other Consideration:
Personal Funds
ITEM 4 -- Purpose of Transaction
Each individual reporting person on this Schedule 13D has acquired
beneficial ownership of the securities for investment purposes. As of the date
hereof, the reporting persons have no present plans or proposals with respect to
any material change in the Company's business or corporate structure or,
generally, any other action referred to in instructions (a) through (j) of Item
4 of Schedule 13D. Depending on market conditions and other factors, the
reporting persons may make further purchases of the Company's securities or may
sell or otherwise dispose of all or portions of such securities, if such sales
and purchases would be desirable investments.
ITEM 5 -- Interest in Securities of Issuer
a. Number of Shares: 9,842,700 (of which 4,700,000 represents
warrants)
Percentage Ownership of Class: 29.05%
b. Shares of Sole Power to Vote: Jose Maria Salema Garcao has sole
power to vote the 9,842,700 shares
Shares of Joint Power to Vote: 0
Shares of Sole Power to Dispose: 0
Shares of Joint Power to Dispose: Jose Maria Salema Garcao and
Maria Luisa Garcao share the power to dispose of the
9,842,700 shares
c. Purchases during the last 60 days:
During the period from August 12, 1997 to October 6, 1997, Mr.
Garcao purchased a total of 317,300 shares of the Company's Common
Stock over-the-counter through broker transactions. The purchases
were effected at the prevailing market price on the day of the
transaction and ranged from a low of $2.63 per share on August
27, 1997 to a high of $4.99 per share on September 3, 1997.
During the period from January 31, 1997 to August 11, 1997, the
Reporting Person purchased 425,400 Common Shares in the same
manner at per share prices ranging from a low of $1.02 on April
21, 1997 to a h igh of $5.17 on May 15, 1997. This filing amends
Amendment Nos. 1 and 2 to report all such over-the-counter
transactions not heretofore reported.
Since the filing of Amendment No. 2 to the Reporting Person's
Schedule 13D, Mr. Garcao has effected the following purchases via
privately negotiated transactions:
Type of Security: Transaction Date: Amount Purchased: Purchase Price:
Common Stock April 30, 1997 400,000* $1 per share
Common Stock
Purchase Warrant April 30, 1997 400,000 $3 per share
Common Stock
PurchaseWarrant April 28, 1997 200,000 $1.50 per share
* This purchase was made pursuant to a Stock Purchase
Agreement between Mr. Garcao and the Company dated April 30, 1997,
under which Mr. Garcao purchased a total of 1,400,000 shares. The
purchase of the remaining 1,000,000 shares was previously reported in
Amendment No. 2 to this Schedule 13D. This filing amends such Amendment
No. 2 to reflect the above-described April 1997 purchase transactions.
d. Power to Direct: None
e. Not applicable
ITEM 6 -- Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
The persons reporting on this Schedule 13D are related to each other by
marriage. Besides the shared power to dispose of the Company's securities owned
by them and otherwise as set forth in this statement, to the best knowledge of
the undersigned, there are no contracts, arrangements, understandings or
relationships (legal or otherwise) among or between the reporting persons, or
between any of the reporting persons and any other person with respect to any
securities of the Company, including but not limited to transfer or voting of
any of the securities of the Company.
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.
October 20, 1997 /s/ Jose Maria Salema Garcao
----------------------------
Jose Maria Salema Garcao
October 20, 1997 /s/ Maria Luisa Garcao
----------------------
Maria Luisa Garcao
