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OMB APPROVAL
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OMB Number 3235-0145
Expire August 31, 1999
Estimated average burden
hours per response............14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7 )*
Geneva Steel Company
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
372252-10-6
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(CUSIP Number)
December 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
| | Rule 13d-1(b)
| | Rule 13d-1(c)
|X| Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
Page 1 of 5 Pages
<PAGE>
CUSIP No. 372252-10-6
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Joseph A. Cannon
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b)
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3. SEC Use Only
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4. Citizenship or Place of Organization United States
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5. Sole Voting Power 1,090,749
Number of -----------------------------
Shares Beneficially 6. Shared Voting Power None
Owned by Each ---------------------------
Reporting 7. Sole Dispositive Power 1,090,749
Person With: ------------------------
8. Shared Dispositive Power None
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,090,749
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) | |
11. Percent of Class Represented by Amount in Row (11) 7.0%
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12. Type of Reporting Person (See Instructions) IN
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Page 2 of 5
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CUSIP No. 372252-10-6
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Item 1.
(a) Name of Issuer: Geneva Steel Company (the "Company")
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(b) Address of Issuer's Principal Executive Offices: 10 South Geneva
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Road, Vineyard, UT 84058
Item 2.
(a) Name of Person Filing: Joseph A. Cannon (the "Reporting Person")
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(b) Address of Principal Business Office, if none, Residence: 10 South
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Geneva Road, Vineyard, UT 84058
(c) Citizenship: United States
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(d) Title of Class of Securities: Common Stock, No Par Value
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(e) CUSIP Number: 372252-10-6
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Item 3.
This statement is not filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c). ---
Item 4. Ownership
As of December 31, 1998, the Reporting Person was the beneficial owner
of 1,090,749 shares of the Company's Class A Common Stock, which shares
represented 7.0% of the outstanding Class A Common Stock as determined by Rule
13d-3 under the Securities Exchange Act of 1934. The Reporting Person
beneficially held 1,004,792 shares individually with sole voting and investment
power and 85,957 shares through Riverwood Limited Partnership, a Utah limited
partnership, as general partner with sole voting and investment power.
The number of shares reported above includes 861,419 shares and 82,801
shares of Class A Common Stock that the Reporting Person and Riverwood Limited
Partnership, respectively, had the right to acquire upon the conversion of
8,614,191 shares and 828,013 shares of the Company's Class B Common Stock,
respectively, at the rate of ten shares of Class B Common Stock for one share of
Class A Common Stock. In addition, the number of shares reported above includes
options to purchase 135,200 shares of Class A Common Stock, which options are
either currently exercisable or exercisable within the next 60 days.
Item 5. Ownership of Five Percent or Less of a Class
This statement is not being filed to report the fact that as of the
date hereof the Reporting Person has ceased to be the beneficial owner of more
than five percent of the class of securities.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reporting on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Page 3 of 5
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Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
Page 4 of 5
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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.
1-19-99
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Date
/s/ JOSEPH A. CANNON
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Signature
Joseph A. Cannon
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Name/Title
