SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 10
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Ampex Corporation
(Name of Issuer)
Class A Common Stock, Par Value $.01 Per Share
----------------------------------------------
(Title of Class of Securities)
032092108
---------
(CUSIP Number)
Craig L. McKibben
65 East 55th Street
New York, New York 10022
(212) 759-6301
--------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 31, 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 this Statement: / /
414618.6
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 2 of 15 Pages
---------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SH Securities Co., LLC
13-3912827
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- -----------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
400,000
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
400,000
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- -----------------------------------------------------------------------------------------------------------------------------------
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.
414618.6
<PAGE>
SCHEDULE 13D
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 3 of 15 Pages
--------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sherborne Investments Corporation
51-0364504
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,450,000
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,450,000
----------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,450,000
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- -----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- -----------------------------------------------------------------------------------------------------------------------------------
*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.
414618.6
<PAGE>
SCHEDULE 13D
- ---------------------------------------------- ---------------------------------------
CUSIP No. 032092108 Page 4 of 15 Pages
--------- -- ------
- ---------------------------------------------- ---------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sherborne Holdings Incorporated
13-3513642
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
693,566
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
219,656
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
693,566
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
913,222
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
- -----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- -----------------------------------------------------------------------------------------------------------------------------------
*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.
414618.6
<PAGE>
SCHEDULE 13D
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 5 of 15 Pages
--------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Newhill Partners, L.P.
13-3389798
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
693,566
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
219,656
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
693,566
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
913,222
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
- -----------------------------------------------------------------------------------------------------------------------------------
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.
414618.6
<PAGE>
SCHEDULE 13D
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 6 of 15 Pages
--------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sherborne & Company Incorporated
22-2569328
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSUR OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,070,545
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
219,656
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,070,545
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,290,201
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- -----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------------------------------------------------------------
*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.
414618.6
<PAGE>
SCHEDULE 13D
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 7 of 15 Pages
--------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig L. McKibben
###-##-####
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
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
USA
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
358,000
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
219,656
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
577,656
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,704,415
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,282,071
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
- -----------------------------------------------------------------------------------------------------------------------------------
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.
414618.6
<PAGE>
SCHEDULE 13D
- --------------------------------------------- ----------------------------------------
CUSIP No. 032092108 Page 8 of 15 Pages
---------- -- ------
- --------------------------------------------- ----------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edward J. Bramson
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / / (b) / /
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
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 Kingdom
- -----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,282,955
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
219,656
-------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
5,282,955
-------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,407,480
- -----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,910,091
- -----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
||
- -----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.4%
- -----------------------------------------------------------------------------------------------------------------------------------
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.
</TABLE>
414618.6
<PAGE>
AMENDMENT NO. 10
TO
SCHEDULE 13D
This Amendment No. 10 amends certain of the information contained in the
Statement on Schedule 13D, as previously amended (the "Schedule 13D"), filed by
the parties named below and certain other parties (collectively, "Filing
Parties") relating to the Class A Common Stock ("Class A Stock") of Ampex
Corporation (the "Company"). Certain information in the Schedule 13D which has
not changed since the filing of the most recent amendment thereto is not
restated herein. Capitalized terms used but not defined herein have the meanings
ascribed to them in the Schedule 13D.
Item 1. Security and Issuer.
No change.
Item 2. Identity and Background.
This Amendment No. 10 is being filed pursuant to Section 13d(1) of the
Securities Act of 1934, as amended (the "Exchange Act") and Rule 13d-2
thereunder by the Filing Parties named below, each of whom has a business
address at 65 East 55th Street, New York, NY 10022.
1. SH Securities Co. LLC, a New York limited liability company ("SHS"),
of which Edward J. Bramson, one of the Filing Parties, is the sole
managing member. SHS's principal business is the ownership of Class A
Stock of the Company. SHS has no other executive officers or
directors.
2. Sherborne Investments Corporation, a Delaware corporation ("SIC"), of
which Edward J. Bramson, one of the Filing Parties, is the sole
stockholder. SIC's principal business is the ownership of Class A
Stock of the Company.
3. Sherborne Holdings Incorporated, a Delaware corporation ("SHI"). SHI's
principal business is the ownership of shares of the Company and of
Lanesborough Corporation, a Delaware corporation.
4. Newhill Partners, L.P. ("NLP"), a Delaware limited partnership, which
owns all of the outstanding stock of SHI. NLP's principal business is
to acquire, hold and dispose of business entities, directly or through
subsidiaries and holding companies. The General Partner of NLP is SCI
(defined below).
5. Sherborne & Company Incorporated, a Delaware corporation ("SCI"), the
General Partner of NLP. SCI is owned by Edward J. Bramson, who is its
sole stockholder. SCI's principal business is to act as General
Partner of NLP.
Page 9 of 15 Pages
414618.6
<PAGE>
6. Craig L. McKibben, Vice President, Treasurer, Chief Financial Officer,
and a director of the Company. Mr. McKibben is also an officer and
director of each other corporation that is a Filing Party herein
(other than SIC) and a limited partner of NLP.
7. Edward J. Bramson, Chairman of the Board, President and Chief
Executive Officer of the Company. Mr. Bramson is also the chief
executive officer and a director of each other corporation that is a
Filing Party herein.
Additional information regarding the Filing Parties named above is
contained in Item 2 and Schedule 1 of the Schedule 13D and is incorporated
herein by reference.
Item 3. Source and Amount of Funds or Other Consideration.
No change.
Item 4. Purpose of the Transaction.
Not Applicable.
Item 5. Interest in Securities of the Issuer.
(a) As of the close of business on May 31, 1997:
(i) SHS owned 400,000 shares of Class A Stock of the Company,
representing approximately 0.9% of the outstanding shares of Class A Stock of
the Company.
(ii) SIC owned 1,450,000 shares of Class A Stock of the Company,
representing approximately 3.2% of the outstanding shares of Class A Stock of
the Company.
(iii) SHI owned directly or through a wholly-owned subsidiary
693,566 shares of Class A Stock. In addition, SHI holds the right to vote
219,656 shares of Class A Stock as holder of a voting proxy with respect to such
shares granted by Craig L. McKibben. Accordingly, SHI is deemed to be the
beneficial owner of an aggregate of 913,222 shares of Class A Stock,
representing approximately 2.0% the outstanding Class A Stock of the Company.
(iv) NLP owned all the outstanding shares of SHI, and is deemed
to be the beneficial owner of all shares beneficially owned or controlled by
SHI. Accordingly, NLP is deemed to be the beneficial owner of an aggregate of
913,222 shares, representing approximately 2.0%, of the outstanding Class A
Stock of the Company.
(v) SCI owned directly 376,979 shares of Class A Stock, and SCI
is deemed to be the beneficial owner of all shares beneficially owned by NLP, as
SCI is the general partner of NLP, the sole stockholder of SHI. Accordingly, SCI
is deemed to be the beneficial owner of an aggregate of 1,290,201 shares,
representing approximately 2.8% of the outstanding Class A Stock of the Company.
Page 10 of 15 Pages
414618.6
<PAGE>
(vi) Mr. McKibben owned directly 219,656 shares of Class A Stock,
held vested options to acquire 208,000 shares of Class A Stock under the
Company's 1992 Stock Incentive Plan, and held options to acquire 150,000 shares
of Class A Stock granted to him by SHI. (Mr. McKibben has granted a proxy to SHI
to vote all shares of Class A Stock owned by him on any matter submitted to
stockholders of the Company in 1997. If he acquires any shares upon exercise of
outstanding stock options or otherwise during 1997, such shares would be subject
to such proxy.) In addition, Mr. McKibben serves as co-administrator of the
Ampex Retirement Master Trust (the "Ampex Trust") and the Buffalo Color Master
Trust (the "Buffalo Color Trust"), which hold 2,407,480 and 296,935 shares of
Class A Stock, respectively, as to which Mr. McKibben may be deemed to share
investment power. Accordingly, Mr. McKibben is deemed to be the beneficial owner
of 3,282,071 shares of Class A Stock, representing approximately 7.2% of the
Class A Stock of the Company.
(vii) Mr. Bramson owned directly 2,359,910 shares of Class A
Stock, and held vested options to acquire an aggregate of 2,500 shares of Class
A Stock under the Company's 1992 Stock Incentive Plan. Mr. Bramson is also
deemed beneficially to own 2,920,545 shares of Class A Stock owned or controlled
by the other Filing Parties named herein, and 219,656 shares covered by the
above-mentioned proxy. In addition, Mr. Bramson serves as co-administrator of
the Ampex Retirement Trust, which holds 2,407,480 Class A Stock, as to which Mr.
Bramson may be deemed to share investment power. Accordingly, Mr. Bramson is
deemed to be the beneficial owner of an aggregate of 7,910,091 shares,
representing approximately 17.4% of the outstanding Class A Stock of the
Company.
(viii) The Filing Parties named herein, collectively, may
comprise a "group" within the meaning of Section 13(d)(3) of the Securities
Exchange Act of 1934, and as a group beneficially own all of the shares owned or
controlled by each of the Filing Parties, representing an aggregate of 8,207,026
shares, or approximately 18%, of the outstanding Class A Stock of the Company.
(b) No change.
(c) Except as disclosed in Annex A hereto, none of the Filing Parties
has effected any transactions in shares of Class A Stock since the filing of the
most recent amendment to the Schedule 13D, dated March 31, 1997.
(d) No change.
(e) Not Applicable.
(f) The filing of this Statement shall not be construed as an admission
by any Filing Party that it is, for purposes of Section 13(d) or 13(g) of the
Securities Exchange Act of 1934 or for any other purpose, the beneficial owner
of any securities covered by this statement.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
No change.
Item 7. Material Filed as Exhibits.
Not applicable.
Page 11 of 15 Pages
414618.6
<PAGE>
After reasonable inquiry and to the best of its knowledge, each of the
undersigned certifies that the information set forth in this Statement is true,
complete and correct.
Dated: May 31, 1997
SH SECURITIES CO., LLC
By: /s/ Edward J. Bramson
---------------------
Name: Edward J. Bramson
Title: Managing Member
SHERBORNE INVESTMENTS CORPORATION
By: /s/ Edward J. Bramson
---------------------
Name: Edward J. Bramson
Title: President
SHERBORNE HOLDINGS INCORPORATED
By: /s/ Craig L. McKibben
---------------------
Name: Craig L. McKibben
Title: Vice President
NEWHILL PARTNERS, L.P., by its
general partner, Sherborne &
Company Incorporated
By: /s/ Edward J. Bramson
---------------------
Name: Edward J. Bramson
Title: President
SHERBORNE & COMPANY INCORPORATED
By: /s/ Craig L. McKibben
---------------------
Name: Craig L. McKibben
Title: Vice President
Page 12 of 15 Pages
414618.6
<PAGE>
/s/ Craig L. McKibben
---------------------
Craig L. McKibben
/s/ Edward J. Bramson
---------------------
Edward J. Bramson
Page 13 of 15 Pages
414618.6
<PAGE>
Annex A to Amendment No. 10
to Schedule 13D
Description of Transactions in
Class A Stock of Ampex Corporation
<TABLE>
<CAPTION>
Name of Filing Party Date of Sale Number of Shares Price Per Share
-------------------- ------------------- ---------------- ---------------
<S> <C> <C> <C>
Sherborne Investments 5/12/97 6,000 $5.875
Corporation
5/19/97 10,000 5.875
5/20/97 4,000 5.75
2,000 5.875
5,000 5.812
5/21/97 2,000 6.375
11,000 6.50
5/30/97 10,000 6.50
Sherborne Holdings 5/8/97 10,000 5.6875
Incorporated
Sherborne & Company 5/21/97 10,000 6.437
Incorporated
5/22/97 2,500 6.25
7,500 6.375
5/23/97 15,000 6.25
5/27/97 3,000 6.25
5,000 6.187
7,000 6.125
5/28/97 10,000 6.687
15,000 6.50
5/29/97 5,000 6.687
15,000 6.625
5,000 6.75
5/30/97 2,500 6.437
12,500 6.375
Page 14 of 15 Pages
</TABLE>
414618.6
<PAGE>
<TABLE>
<CAPTION>
ANNEX A (cont'd)
Name of Filing Party Date of Sale Number of Shares Price Per Share
-------------------- ------------------- ---------------- ---------------
<S> <C> <C> <C>
Edward J. Bramson 5/2/97 5,000 5.5625
5/6/97 5,000 6.375
5/7/97 5,000 5.9375
5/9/97 5,000 5.9375
5/12/97 5,000 5.75
5/13/97 5,000 5.8125
5/14/97 5,000 5.8125
5/15/97 5,000 5.6875
5/16/97 5,000 5.6875
5/20/97 5,000 5.8125
</TABLE>
All of the foregoing transactions were effected in brokerage
transactions on the American Stock Exchange.
Page 15 of 15 Pages
414618.6
<PAGE>
