<PAGE> 1
Page 1 of 10 pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(AMENDMENT NO. 2)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ELITE INFORMATION GROUP, INC.
(Name of Issuer)
Common Stock, $.01 par value per share
(Title of Class of Securities)
28659M
(CUSIP Number)
Steven O. Todd
10800 Sikes Place, Suite 300
Charlotte, North Carolina 28277
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 10, 2000
(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).
This statement contains 10 pages. The
exhibit index is on page 10.
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SCHEDULE 13D/A
- ---------------- ------------------
CUSIP NO. 28659M PAGE 2 OF 10 PAGES
- ---------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PAR Investment Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(3)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH 1,220,300
---------------------------------------------------------
8 SHARED VOTING POWER
None
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,220,300
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,220,300 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
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SCHEDULE 13D/A
- ---------------- ------------------
CUSIP NO. 28659M PAGE 3 OF 10 PAGES
- ---------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PAR Group, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(3)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH 1,220,300
---------------------------------------------------------
8 SHARED VOTING POWER
0
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,220,300
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,220,300 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
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SCHEDULE 13D/A
- ---------------- ------------------
CUSIP NO. 28659M PAGE 4 OF 10 PAGES
- ---------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PAR Capital Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(3)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH 1,220,300
---------------------------------------------------------
8 SHARED VOTING POWER
0
---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,220,300
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,220,300 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
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Page 5 of 10 pages
Item 1. Security and Issuer.
This statement on Schedule 13D/A (this "Statement") is filed with
respect to shares of Common Stock, $.01 par value per share ("Common Stock"), of
Elite Information Group, Inc., a Delaware corporation (the "Issuer"). The
address of the principal executive offices of the Issuer is 5100 Goldleaf
Circle, Suite 100, Los Angeles, CA 90056.
Item 2. Identity and Background.
(a),(b), and (c). The persons filing this Statement are PAR Investment
Partners, L.P. ("PIP"), PAR Group, Inc., L.P. ("PAR Group"), and PAR Capital
Management, Inc. ("PAR Capital").
PIP is a Delaware limited partnership. Its principal business is that
of a private investment partnership engaging in the purchase and sale of
securities for its own account and its address is Suite 1600, One Financial
Center, Boston, MA 02111.
The sole general partner of PIP is PAR Group, a Delaware limited
partnership. The principal business of PAR Group is that of a private investment
partnership engaging in the purchase and sale of securities for its own account
and its address is Suite 1600, One Financial Center, Boston, MA 02111.
The sole general partner of PAR Group is PAR Capital, a Delaware S
corporation. The principal business of PAR Capital is to act as the general
partner of PAR Group. Its offices are located at Suite 1600, One Financial
Center, Boston, MA 02111.
Paul A. Reeder, III is the President and sole director of PAR Capital.
He may be deemed to be a controlling shareholder of PAR Capital. Frederick S.
Downs, Jr. is a vice president of PAR Capital. He may be deemed to be a
controlling shareholder of PAR Capital. Arthur G. Epker is a vice president of
PAR Capital. He may be deemed to be a controlling shareholder of PAR Capital.
The business address of Paul A. Reeder, III, Frederick S. Downs, Jr. and Arthur
G. Epker, III is Suite 1600, One Financial Center, Boston, MA 02111.
(d) and (e). During the last five years, PIP, PAR Group and PAR Capital
have not (i) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (ii) been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction as a result of
which they were or are 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 violations with respect to such laws.
During the last five years, Paul A. Reeder, III, Frederick S. Downs,
Jr., and Arthur G. Epker, III have not (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which they were or are 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 violations with respect to such laws.
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Page 6 of 10 pages
(f) Paul A. Reeder, III, Frederick S. Downs, Jr., and Arthur G. Epker,
III are all citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
The Schedule 13D to which this Schedule 13D/A relates was necessitated
by the execution on December 14, 1999 by the Filing Persons of a Stockholders
Agreement (described in Item 4). This amendment notes the termination of the
Stockholders Agreement. Accordingly, this item is inapplicable.
Item 4. Purpose of Transaction.
On December 14, 1999, the Issuer, Solution 6 Holdings, Limited, a New
South Wales, Australia corporation ("Solution 6") and EIG Acquisition Group,
Inc., a Delaware corporation and an indirect wholly owned subsidiary of Solution
6 ("Purchaser"), entered into an Agreement and Plan of Merger providing for the
making of a cash tender offer (the "Offer") by Purchaser to purchase all of the
issued and outstanding shares of Common Stock of the Issuer at a price per share
of $11.00 (the "Offer Price"), and for the merger of Issuer and Purchaser (the
"Merger Agreement"). To induce Solution 6 and Purchaser to enter into the Merger
Agreement, on December 14, 1999, PIP, PAR Group and PAR Capital (collectively,
the "Filing Persons") entered into a Stockholders Agreement (the "Stockholders
Agreement") with Solution 6, Purchaser, and certain other stockholders of
Issuer.
Effective May 10, 2000, pursuant to Section 9.1(d)(i) of the Merger
Agreement, the Issuer terminated the Merger Agreement. Pursuant to Section 8 of
the Stockholders Agreement, the Stockholders Agreement terminated automatically
upon termination of the Merger Agreement. Therefore, the shares of Common Stock
of the Filing Persons are no longer subject to the Stockholders Agreement.
None of the Filing Persons has any present plan or proposal that
relates to or that could result in any of the following:
(a) The acquisition by any person of additional securities of the
Issuer or the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Issuer or
of any of its subsidiaries;
(d) Any change in the present board of directors or management of the
Issuer, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend
policy of the Issuer;
(f) Any other material change in the Issuer's business or corporate
structure;
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Page 7 of 10 pages
(g) Changes in the Issuer's articles of incorporation, bylaws or
instruments corresponding thereto or other actions that may impede the
acquisition of control of the Issuer by any person;
(h) Causing a class of securities of the Issuer to be delisted from a
national securities exchange;
(i) A class of equity securities of the Issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) As of the date of this Statement, PIP beneficially owns and PAR
Group and PAR Capital may be deemed to beneficially own 1,220,300 shares of
Common Stock of the Issuer, representing approximately 13% of the number of
shares of Common Stock of the Issuer currently outstanding. The number of shares
of Common Stock of Issuer believed to be outstanding as of May 5, 2000 is
9,415,473. The total amount of funds used in purchasing the 1,220,300 shares of
Common Stock was $10,760,262.20.
To the best of knowledge of PIP, PAR Group, and PAR Capital,
none of PIP, PAR Group or PAR Capital, nor any officer or director of PIP, PAR
Group or PAR Capital beneficially owns any other shares of Common Stock of the
Issuer.
(b) PIP, PAR Group and PAR Capital have sole voting and dispositive
power with respect to the 1,220,300 shares of Common Stock of the Issuer.
(c) The information set forth in Item 4 is incorporated by reference
herein.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits.
1. The Power of Attorney of PAR Investment Partners, L.P., PAR
Group, L.P., and PAR Capital Management, Inc. dated December
17, 1999, with respect to the execution of this Statement is
filed as Exhibit 1 hereto.
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Page 8 of 10 pages
SIGNATURE
After due inquiry, to the best of our knowledge and belief, we certify
that the information set forth in this statement is true, complete and correct.
Dated: May 15, 2000
PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P., its general partner
By: PAR CAPITAL MANAGEMENT, INC,
its general partner
/s/ Arthur G. Epker III
-----------------------------------------
Arthur G. Epker, III, Vice President
By Steven O. Todd, Attorney-in-Fact
PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.
its general partner
/s/ Arthur G. Epker III
-----------------------------------------
Arthur G. Epker, III, Vice President
By Steven O. Todd, Attorney-in-Fact
PAR CAPITAL MANAGEMENT, INC.
/s/ Arthur G. Epker III
-----------------------------------------
Arthur G. Epker, III, Vice President
By Steven O. Todd, Attorney-in-Fact
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Page 9 of 10 pages
EXHIBIT INDEX
Sequentially-
Exhibit No. Exhibit Numbered Page
- ----------- ------- -------------
1 Power of Attorney of PAR Investment 10
Partners, L.P., PAR Group, L.P., and
PAR Capital Management, Inc. dated
December 17, 1999
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Page 10 of 10 pages
EXHIBIT 1
POWER OF ATTORNEY
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POWER OF ATTORNEY
The undersigned hereby authorizes Christopher K. Poole, Barry D.
Emerson and Steven O. Todd and each of them, with full power of substitution, to
execute in the name and on behalf of the undersigned any statement of beneficial
ownership pursuant to Section 13(d) of the Securities Exchange Act of 1934, as
amended, including statements on Schedule 13D (collectively, the "Schedule 13D
Reports") with respect to the undersigned's beneficial ownership of securities,
including options, of Elite Information Group, Inc. (the "Company") and to file
the same, with any exhibits thereto (including this Power of Attorney), and any
amendments thereto as the person(s) so acting deems appropriate with the
Securities and Exchange Commission, The Nasdaq Stock Market and the Company and
to execute and deliver a joint filing agreement with other persons jointly
filing any such Schedule 13D Reports.
This 17th day of December, 1999.
PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P., its general partner
By: PAR CAPITAL MANAGEMENT, INC.,
its general partner
/s/ Arthur G. Epker III
-----------------------------------------
Arthur G. Epker III
Vice President
PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.
Its general partner
/s/ Arthur G. Epker III
-----------------------------------------
Arthur G. Epker III
Vice President
PAR CAPITAL MANAGEMENT, INC.
Arthur G. Epker III
-----------------------------------------
Arthur G. Epker, III
Vice President
