<PAGE>
OMB APPROVAL
OMB Number:3235-0145
Expires: August 31, 1999
Estimated average burden
hours per form 14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
HIBERNIA FOODS PLC
(Name of Issuer)
Ordinary Shares, IRL .07 Par Value
(Title of Class of Securities)
428660104
(CUSIP Number)
*
Shartsis Friese & Ginsburg LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 26, 1998
(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(e), 13d-1(f) or 13d-1(g), check
the following box / /.
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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).
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.
SEC 1746 (10-97)
<PAGE>
CUSIP No. 428660104 Page 2 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GRUBER & McBAINE CAPITAL MANAGEMENT, LLC
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,057,221
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,057,221
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,057,221
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.6%
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 428660104 Page 3 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
JON D. GRUBER
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 46,000
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,057,221
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 46,000
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,057,221
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,103,221
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.1%
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 428660104 Page 4 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
J. PATTERSON McBAINE
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,057,221
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,057,221
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,057,221
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.6%
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 428660104 Page 5 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
THOMAS LLOYD-BUTLER
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,057,221
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,057,221
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,057,221
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.6%
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 428660104 Page 6 of 11 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
LAGUNITAS PARTNERS, A California Limited Partnership
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,174,555
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,174,555
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,174,555
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.0%
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
CUSIP No. 428660104 Page 7 of 11 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to Ordinary Shares, IRL .07 par value (the "Stock") of
Hibernia Foods PLC ("HIB"). The principal executive office of HIB is located
at 68 Merrion Square, Dublin 2, Ireland. This statement reflects ownership
of Ordinary Shares and Units. Each Unit consists of 1 share of Series A
Preferred Stock convertible into Ordinary Shares at $3.60 per share, 10
warrants exercisable for 10 Ordinary Shares at $5.625 per share, and 10
warrants exercisable for 10 Ordinary Shares at $7.50 per share. The share
data shown on this statement was calculated as if the Preferred Stock and
warrants that comprise the Units had been exchanged into or exercised for
Ordinary Shares.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction C
of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and controlling
persons, and the information regarding them, are as follows:
(a) Gruber and McBaine Capital Management, LLC (LLC); Jon D. Gruber
(Gruber); J. Patterson McBaine (McBaine); Thomas Lloyd-Butler (TLB); and
Lagunitas Partners, a California Limited Partnership (Lag).
(b) The business address of LLC, Gruber, McBaine, TLB and Lag is 50
Osgood Place, Penthouse, San Francisco, CA 94133.
(c) LLC is an investment adviser. Gruber and McBaine are the
Managers of LLC. TLB is a Member of LLC. Lag is an investment limited
partnership. LLC is the general partner of Lag.
(d) During the last five years, none of such persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is 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.
(f) Gruber, McBaine and TLB are citizens of the United States of
America.
<PAGE>
CUSIP No. 428660104 Page 8 of 11 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as follows:
Purchaser Source of Funds Amount
Lag Working Capital $2,612,063
LLC Capital Under Management $1,962,000
Gruber Personal Funds $129,500
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the purchase of the Stock reported herein was and is for
investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item 2 of this
statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
Lag 1,174,555 14.0% 0 1,174,555 0 1,174,555
LLC 2,057,221 22.6% 0 2,057,221 0 2,057,221
Gruber 2,103,221 23.1% 46,000 2,057,221 46,000 2,057,221
McBaine 2,057,221 22.6% 0 2,057,221 0 2,057,221
TLB 2,057,221 22.6% 0 2,057,221 0 2,057,221
The persons filing this statement effected the following transactions in the
Stock on the dates indicated, and such transactions are the only transactions
in the Stock by the persons filing this statement since February 1, 1998:
Purchase Number Price
Name or Sale Date of Shares Per Share
Lag P 3/26/98 955,555 $4.84
LLC P 3/26/98 716,666 $4.84
These purchases were purchases of Units, rather than Ordinary Shares, and the
Number of Shares data in these rows is the number of Ordinary Shares into
which the Series A Preferred Shares and warrants that comprise the Units are
exchangeable or exercisable. The Price per Share data is the price per such
Ordinary Share, derived from the price per Unit and the exercise prices of
the warrants included in each Unit.
<PAGE>
CUSIP No. 428660104 Page 9 of 11 Pages
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
LLC is the general partner of Lag pursuant to a limited partnership
agreement. This agreement provides to the general partner the authority,
among other things, to invest the funds of Lag in the Stock, to vote and
dispose of those securities and to file this statement on behalf of Lag. Also
pursuant to this limited partnership agreement, LLC is entitled to fees based
on assets under management and realized and unrealized gains, if certain
conditions are met. Pursuant to investment management agreements, LLC is
authorized, among other things, to invest funds of its various investment
advisory clients, and to vote and dispose of those securities. Such
investment management agreements may be terminated by either party on thirty
days' notice, and provide for fees payable to LLC based on assets under
management and realized and unrealized gains, if certain conditions are met.
Pursuant to authority granted to LLC orally and under a Power of Attorney,
LLC is authorized, among other things, to invest funds of various relatives
and affiliates of Gruber, McBaine and TLB. Such authority may be terminated
at any time on notice and there are no fees payable to LLC for those
services.
<PAGE>
CUSIP No. 428660104 Page 10 of 11 Pages
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
(previously filed).
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify
that the information set forth in this statement is true, complete and
correct.
DATED: February 18, 1999
/s/ Jon D. Gruber
Jon D. Gruber
J. Patterson McBaine
By: GRUBER AND MCBAINE CAPITAL MANAGEMENT, LLC, Attorney-in-Fact
By: /s/ Jon D. Gruber
Jon D. Gruber, Manager
Thomas Lloyd-Butler
By: GRUBER AND MCBAINE CAPITAL MANAGEMENT, LLC, Attorney-in-Fact
By: /s/ Jon D. Gruber
Jon D. Gruber, Manager
GRUBER AND McBAINE CAPITAL MANAGEMENT, LLC
By: /s/ Jon D. Gruber
Jon D. Gruber, Manager
LAGUNITAS PARTNERS, L.P.
By: GRUBER AND McBAINE CAPITAL MANAGEMENT, LLC, Attorney-in-Fact
By: /s/ Jon D. Gruber
Jon D. Gruber, Manager
<PAGE>
CUSIP No. 428660104 Page 11 of 11 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G
(and any amendments or supplements thereto) required under section 13(d) of
the Securities Exchange Act of 1934, as amended, in connection with purchases
by the undersigned of Ordinary Shares of Hibernia Foods, plc, an Irish public
limited company. For that purpose, the undersigned hereby constitute and
appoint Gruber & McBaine Capital Management, a California corporation, as
their true and lawful agent and attorney-in-fact, with full power and
authority for and on behalf of the undersigned to prepare or cause to be
prepared, sign, file with the SEC and furnish to any other person all
certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases, and to do and perform every act
necessary and proper to be done incident to the exercise of the foregoing
power, as fully as the undersigned might or could do if personally present.
DATED: March 1, 1996.
GRUBER & McBAINE CAPITAL MANAGEMENT GRUBER & MCBAINE CAPITAL
MANAGEMENT INTERNATIONAL
By: /s/ J. Patterson McBaine By: /s/ J. Patterson McBaine
J. Patterson McBaine, President J. Patterson McBaine, President
/s/ Jon D. Gruber LAGUNITAS PARTNERS,
Jon D. Gruber A California Limited Partnership
/s/ Thomas Lloyd-Butler By: /s/ J. Patterson McBaine
Thomas Lloyd-Butler J. Patterson McBaine, President
/s/ J. Patterson McBaine
J. Patterson McBaine
CSR\2217\030\1029559.01
