SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. __)
Hemagen Diagnostics, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
423501 105
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(CUSIP Number)
Gary P. Kreider, Esq.
Keating, Muething & Klekamp
One East Fourth Street, 18th Floor
Cincinnati, Ohio 45202
(513) 579-6411
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 30, 1999
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(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 that 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 [ ]
(Continued on the following pages)
<PAGE>
CUSIP No. 423501 105 13D Page 2 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jerry L. Ruyan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,787,842 - See Item 5(I)(b)
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
468,478 - See Item 5(I)(b)
10 SHARED DISPOSITIVE POWER
926,007
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,787,842 - See Item 5(I)(a)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.14%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 3 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
William P. Hales
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,787,842 - See Item 5(II)(b)
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
1,233,357 - See Item 5(II)(b)
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,787,842 - See Item 5(II)(a)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.14%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 4 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas A. Donelan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,787,842 - See Item 5(III)(b)
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
80,000
10 SHARED DISPOSITIVE POWER
926,007 - See Item 5(III)(b)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,787,842 - See Item 5(III)(a)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.14%
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14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 5 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Christopher P. Hendy
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,787,842 - See Item 5(IV)(b)
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
80,000
10 SHARED DISPOSITIVE POWER
926,007 - See Item 5(IV)(b)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,787,842 - See Item 5(IV)(a)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.14%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 6 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Redwood Holdings, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio corporation
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,787,842 - See Item 5(V)(b)
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
10 SHARED DISPOSITIVE POWER
926,007
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,787,842 - See Item 5(V)(a)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.14%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
This Schedule 13D relates to the Common Stock of Hemagen Diagnostics,
Inc., a Delaware corporation. Hemagen's principal executive offices are located
at 34-40 Bear Hill Road, Waltham, Massachusetts, 02451.
Item 2. Identity and Background.
Jerry L. Ruyan
(a) Jerry L. Ruyan
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Mr. Ruyan is primarily engaged in the business of
investing in businesses which he believes will
improve with better management. He conducts his
investment activities from the address listed in (b)
above. Mr. Ruyan also serves as Hemagen's CEO and
Chairman of the Board of Directors.
(d) Mr. Ruyan, during the last five years, has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(e) Mr. Ruyan, during the last five years, has not been a
party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which
resulted in Mr. Ruyan being at any time 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) United States citizen.
William P. Hales
(a) William P. Hales.
(b) 408 West 57th Street, 4A, New York, New York 10019.
(c) Mr. Hales serves as Hemagen's President and is a
member of its Board of Directors.
(d) Mr. Hales, during the last five years, has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(e) Mr. Hales, during the last five years, has not been a
party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which
resulted in Mr. Hales being at any time 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) United States citizen.
Thomas A. Donelan
(a) Thomas A. Donelan.
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Redwood Venture Group, 9468 Montgomery Road,
Cincinnati, Ohio 45242. Mr. Donelan also serves as a
member of Hemagen's Board of Directors.
(d) Mr. Donelan, during the last five years, has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(e) Mr. Donelan, during the last five years, has not been
a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which
resulted in Mr. Donelan being at any time 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) United States citizen.
Christopher P. Hendy
(a) Christopher P. Hendy.
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Redwood Venture Group, 9468 Montgomery Road,
Cincinnati, Ohio 45242. Mr. Hendy also serves as a
member of Hemagen's Board of Directors.
(d) Mr. Hendy, during the last five years, has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(e) Mr. Hendy, during the last five years, has not been a
party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which
resulted in Mr. Hendy being at any time 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) United States citizen.
Redwood Holdings, Inc.
(a) Redwood Holdings, Inc.
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Redwood Holdings, Inc. is a 100% owned subsidiary of
an employee stock ownership plan, the beneficial
owners of which are Jerry L. Ruyan - 49.9%, Thomas A.
Donelan - 24.9% and Christopher P. Hendy - 24.9%.
Redwood Holdings, Inc.'s address is Redwood Venture
Group, 9468 Montgomery Road, Cincinnati, Ohio 45242.
(d) Redwood Holdings, Inc., during the last five years,
has not been convicted in a criminal proceeding,
excluding traffic violations or similar misdemeanors.
(e) Redwood Holdings, Inc., during the last five years,
has not been a party to a civil proceeding of a
judicial or administrative body of competent
jurisdiction which resulted in Redwood Holdings, Inc.
being at any time 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) Ohio corporation.
Item 3. Source and Amount of Funds or Other Consideration.
Redwood Holdings, Inc. and Messrs. Ruyan, Hales, Donelan and Hendy have
utilized personal funds in connection with acquisitions to date of the Common
Stock.
Item 4. Purpose of Transaction.
William P. Hales, Redwood Holdings, Inc. and certain of its employees,
namely, Jerry L. Ruyan, Thomas A. Donelan and Christopher P. Hendy (Hales and
the employees of Redwood Holdings, Inc. are collectively referred to sometimes
hereafter as the "Redwood Nominees") solicited written consents from
shareholders of Hemagen seeking several changes to its Bylaws, the removal of
its directors and the election of the Redwood Nominees. The solicitation
commenced July 20, 1999 and was opposed by Hemagen. Following the delivery of
consents by the Redwood Nominees and their initiation of litigation, the matter
was settled pursuant to a Settlement Agreement entered into September 30, 1999.
Under the Settlement Agreement, four of Hemagen's six directors, namely,
Carl Franzblau, Lawrence Gilbert, Charles W. Smith and Paul N. Fruitt, resigned
and were replaced by Jerry L. Ruyan, William P. Hales, Thomas A. Donelan and
Christopher P. Hendy. The new Board of Directors then elected Jerry L. Ruyan as
Chairman and CEO and William P. Hales as President.
The newly-reconstituted Board, in accordance with the authorization
previously given by shareholders in the consent solicitation referred to above,
then granted options to purchase its common stock at an exercise price of $1.36
per share, expiring September 30, 2009 and becoming exercisable upon the
earliest to occur of March 31, 2001, when the price of Hemagen's common stock
trades above $5 per share for 20 consecutive trading days or upon a change in
control of Hemagen. The option grant was to Redwood Holdings, Inc. to the extent
of 866,007 shares and William P. Hales to the extent of 866,007 shares.
The Board next resolved to reimburse the Redwood Group for its expenditures
in the consent solicitation of up to $300,000, with the actual amount to be
determined by adequate documentation and with payment to be in shares of
Hemagen's common stock at the average of the closing prices on the five
preceding trading days, namely, $1.06875 per share.
Redwood Holdings, Inc. and Messrs. Ruyan, Hales, Donelan and Hendy own the
securities reported in this Schedule 13D for the purpose of controlling Hemagen.
Redwood Holdings, Inc. and Messrs. Ruyan, Hales, Donelan and Hendy may also
acquire additional securities of Hemagen from time-to-time. They will monitor
their investment in Hemagen and, in the future, may make additional acquisitions
or dispositions of that stock.
Except as set forth above, they do not have any plans or proposals which
relate to or would result in:
4.1 The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
4.2 An extraordinary corporation transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
4.3 A sale or transfer of a material amount of assets of the issuer or of
any of its subsidiaries;
4.4 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;
4.5 Any material change in the present capitalization or dividend policy
of the issuer;
4.6 Any other material change in the issuer's business or corporate
structure;
4.7 Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
4.8 Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;
<PAGE>
4.9 A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act;
or
4.10 Any action similar to any of those enumerated above.
Item 5. Interest in Securities of Issuer.
I. Jerry L. Ruyan
(a) See page 2, nos. 11 and 13. No. 11 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock.
(b) See page 2, nos. 7-10. No. 8 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock. No. 9 includes
72,727 warrants to purchase Common Stock. No. 10
includes 866,007 options to purchase Common Stock.
All of the options mentioned in this Item are
exercisable at $1.36 per share upon the earliest of
March 31, 2001, when the price of the Common Stock
trades above $5 per share for twenty consecutive
trading days or upon a change in control of Hemagen
and expire September 30, 2009. All of the warrants
mentioned in this Item are currently exercisable at
$2.75 per share and expire February 28, 2001.
(c) All of the following trades were made in the last 60
days:
---------- --------------- ------------------- ------------------
Date Transaction Number of Shares Price Per Share
---------- --------------- ------------------- ------------------
9/3/99 Sale 10,000 2-11/32
---------- --------------- ------------------- ------------------
9/3/99 Sale 10,000 2-9/32
---------- --------------- ------------------- ------------------
9/3/99 Sale 10,000 2-1/4
---------- --------------- ------------------- ------------------
9/3/99 Sale 19,900 2-3/16
---------- --------------- ------------------- ------------------
9/3/99 Sale 20,000 2-3/8
---------- --------------- ------------------- ------------------
9/3/99 Sale 20,000 2-5/16
---------- --------------- ------------------- ------------------
9/3/99 Sale 15,000 2.01
---------- --------------- ------------------- ------------------
9/3/99 Sale 136,627 2.01
---------- --------------- ------------------- ------------------
9/3/99 Sale 500 2.31250
---------- --------------- ------------------- ------------------
9/3/99 Sale 8,000 2.18750
---------- --------------- ------------------- ------------------
9/3/99 Sale 6,900 2.21870
---------- --------------- ------------------- ------------------
9/3/99 Sale 15,000 2.15620
---------- --------------- ------------------- ------------------
9/3/99 Sale 500 2.28120
---------- --------------- ------------------- ------------------
9/14/99 Purchase 7,850 1.25
---------- --------------- ------------------- ------------------
9/30/99 Purchase 387,801 1.125
---------- --------------- ------------------- ------------------
All transactions were made in the open market
except that the purchase of 387,801 shares occurred
in a private transaction.
(d) None.
(e) Not Applicable.
II. William P. Hales
(a) See page 3, nos. 11 and 13. No. 11 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock.
(b) See page 3, nos. 7-10. No. 8 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock. No. 9 includes
49,500 warrants to purchase Common Stock and 866,007
options to purchase Common Stock. All of the options
mentioned in this Item are exercisable at $1.36 per
share upon the earliest of March 31, 2001, when the
price of the Common Stock trades above $5 per share
for twenty consecutive trading days or upon a change
in control of Hemagen and expire September 30, 2009.
All of the warrants mentioned in this Item are
currently exercisable at $2.75 per share and
effective February 28, 2001.
(c) All of the following trades in the Common Stock were
made in the last 60 days:
---------- -------------- ------------------ ------------------
Date Transaction Number of Shares Price Per Share
---------- -------------- ------------------ ------------------
9/3/99 Sale 180,700 2.04
---------- -------------- ------------------ ------------------
9/3/99 Sale 19,400 2.04
---------- -------------- ------------------ ------------------
9/14/99 Purchase 7,850 1.25
---------- -------------- ------------------ ------------------
9/16/99 Purchase 30,000 1.75
---------- -------------- ------------------ ------------------
9/16/99 Purchase 30,000* .50
---------- -------------- ------------------ ------------------
9/30/99 Purchase 250,000 1.125
---------- -------------- ------------------ ------------------
9/30/99 Option Grant 866,007 N.A.
---------- -------------- ------------------ ------------------
*Warrants
All transactions were made in the open market except that the
purchase of 250,000 shares occurred in a private transaction.
(d) None.
(e) Not Applicable.
III. Thomas A. Donelan
(a) See page 4, nos. 11 and 13. No. 11 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock.
(b) See page 4, nos. 7-10. No. 8 includes 182,227
warrants to purchase Common Stock and 1,732,014
options to purchase Common Stock. No. 10 includes
866,007 options to purchase Common Stock. All of the
options mentioned in this Item are exercisable at
$1.36 per share upon the earliest of March 31, 2001,
when the price of the Common Stock trades above $5
per share for twenty consecutive trading days or upon
a change in control of Hemagen and expire September
30, 2009. All of the warrants mentioned in this Item
are currently exercisable at $2.75 per share and
effective February 28, 2001.
(c) All of the following trades were made in the last 60
days:
------- ------------- ------------------ ----------------
Date Transaction Number of Shares Price Per Share
------- ------------- ------------------ ----------------
9/3/99 Sale 5,000 2-9/32
------- ------------- ------------------ ----------------
9/3/99 Sale 30,100 2-1/4
------- ------------- ------------------ ----------------
9/3/99 Sale 9,000 2-7/16
------- ------------- ------------------ ----------------
9/3/99 Sale 2,000 2-3/8
------- ------------- ------------------ ----------------
9/3/99 Sale 4,000 2-5/16
------- ------------- ------------------ ----------------
9/9/99 Purchase 10,000 1-1/4
------- ------------- ------------------ ----------------
9/30/99 Purchase 70,000 1-1/8
------- ------------- ------------------ ----------------
<PAGE>
All transactions before 9/30/99 occurred in the open
market. The 9/30/99 purchase occurred in a private
transaction.
(d) None.
(e) Not Applicable.
IV. Christopher P. Hendy
(a) See page 5, nos. 11 and 13. No. 11 includes 182,227
warrants to purchase Common Stock and 1,732,014 options
to purchase Common Stock.
(b) See page 5, nos. 7-10. No. 8 includes 182,227 warrants
to purchase Common Stock and 1,732,014 options to
purchase Common Stock. No. 10 includes 866,007 options
to purchase Common Stock. All of the options mentioned
in this Item are exercisable at $1.36 per share upon
the earliest of March 31, 2001, when the price of the
Common Stock trades above $5 per share for twenty
consecutive trading days or upon a change in control of
Hemagen and expire September 30, 2009. All of the
warrants mentioned in this Item are currently
exercisable at $2.75 per share and expire February
28, 2001.
(c) All of the following trades were made in the last 60
days:
--------- -------------- ------------------ ------------------
Date Transaction Number of Shares Price Per Share
--------- -------------- ------------------ ------------------
9/3/99 Sale 25,000 2-3/8
--------- -------------- ------------------ ------------------
9/3/99 Sale 9,900 2-13/32
--------- -------------- ------------------ ------------------
9/3/99 Sale 5,100 2-3/16
--------- -------------- ------------------ ------------------
9/9/99 Purchase 10,000 1-1/4
--------- -------------- ------------------ ------------------
9/30/99 Purchase 70,000 1-1/8
--------- -------------- ------------------ ------------------
All transactions before 9/30/99 occurred in the open market.
The 9/30/99 purchase occurred in a private transaction.
(d) None.
(e) Not Applicable.
V. Redwood Holdings, Inc.
(a) See page 6, nos. 11 and 13. No. 11 includes 182,227
warrants to purchase Common Stock and 1,732,014 options
to purchase Common Stock.
(b) See page 5, nos. 7-10. No. 8 includes 182,227 warrants
to purchase Common Stock and 1,732,014 options to
purchase Common Stock. All of the options mentioned in
this Item are exercisable at $1.36 per share upon the
earliest of March 31, 2001, when the price of the
Common Stock trades above $5 per share for twenty
consecutive trading days or upon a change in control of
Hemagen and expire September 30, 2009. All of the
warrants mentioned in this Item are currently
exercisable at $2.75 per share and expire February 28,
2001. No. 9 includes the securities described in (c)
below.
(c) All of the following trades were made in the last 60
days:
--------- -------------- ------------------ ------------------
Date Transaction Number of Shares Price Per Share
--------- -------------- ------------------ ------------------
9/16/99 Purchase 30,000 1-3/4
--------- -------------- ------------------ ------------------
9/16/99 Purchase 30,000* .50
--------- -------------- ------------------ ------------------
9/30/99 Option Grant 866,007 N.A.
--------- -------------- ------------------ ------------------
*Warrants
(d) None.
(e) Not Applicable.
VI. Redwood Holdings, Inc. and Messrs. Ruyan, Hales, Donelan and
Hendy
(a) 2,652,142 shares or 27.9%. Includes 182,227 warrants to
purchase Common Stock and 1,732,014 options to purchase
Common Stock.
(b) See pages 2-6, nos. 7-10. Items 8 and 11 include
warrants to purchase 182,227 shares of Common Stock and
1,732,014 options to purchase Common Stock. All of the
options mentioned in this Item are exercisable upon the
earliest of March 31, 2001, when the price of the
Common Stock trades above $5 per share for twenty
consecutive trading days or upon a change in control of
Hemagen and expire September 30, 2009. All of the
warrants mentioned in this Item are currently
exercisable at $2.75 per share and expire February
28, 2001.
(c) See I(c), II(c), III(c), IV(c) and V(c) above.
(d) None.
(e) Not Applicable.
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with respect to
Securities of the Issuer.
Redwood Holdings, Inc. and Messrs. Ruyan, Hales, Donelan and Hendy have
agreed to vote their shares and act in concert with respect to their objectives
as to Hemagen.
Item 7. Material to be filed as Exhibits.
1. Powers of Attorney executed in connection with filings under the
Securities Exchange Act of 1934
2. Agreement required pursuant to Regulation Section 240.13d-1(f)(1)
promulgated under the Securities Exchange Act of 1934.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
Dated: October 11, 1999 *
------------------------------------
Jerry L. Ruyan
*
------------------------------------
William P. Hales
*
------------------------------------
Thomas A. Donelan
*
------------------------------------
Christopher P. Hendy
*By: /s/F. Mark Reuter
--------------------------------
F. Mark Reuter
Attorney-in-Fact
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, JERRY L. RUYAN, hereby appoint GARY P. KREIDER and F. MARK REUTER, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day of October,
1999.
/s/Jerry L. Ruyan
---------------------------------
JERRY L. RUYAN
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, THOMAS A. DONELAN, hereby appoint GARY P. KREIDER and F. MARK REUTER, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day of October,
1999.
/s/Thomas A. Donelan
--------------------------------
THOMAS A. DONELAN
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, WILLIAM P. HALES, hereby appoint GARY P. KREIDER and F. MARK REUTER, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day of October,
1999.
/s/William P. Hales
----------------------------
WILLIAM P. HALES
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, CHRISTOPHER P. HENDY, do hereby appoint GARY P. KREIDER and F. MARK
REUTER, or either of them, as my true and lawful attorney-in-fact to sign on my
behalf individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day of October,
1999.
/s/Christopher P. Hendy
--------------------------------
CHRISTOPHER P. HENDY
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
As President of REDWOOD HOLDINGS, INC., I, Thomas A. Donelan, hereby
appoint GARY P. KREIDER and F. MARK REUTER, or either of them, as the true and
lawful attorney-in-fact of Redwood Holdings, Inc. to sign on its behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by Redwood Holdings, Inc.
pursuant to Section 13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand on behalf of Redwood
Holdings, Inc. this 11th day of October, 1999.
REDWOOD HOLDINGS, INC.
By: /s/ Thomas A. Donelan
-----------------------------------
Thomas A. Donelan
President
<PAGE>
EXHIBIT 2
AGREEMENT
This Agreement ("Agreement") executed this 30th day of September, 1999 is
by and among MR. WILLIAM P. HALES, MR. JERRY L. RUYAN, MR. THOMAS A. DONELAN,
MR. CHRISTOPHER P. HENDY and REDWOOD HOLDINGS, INC.(collectively, the
"Shareholders").
WHEREAS, as of the date of this Agreement, the Shareholders own
approximately 27.9% of the common stock (the "Common Stock"), of Hemagen
Diagnostics, Inc., a Delaware corporation;
WHEREAS, the Shareholders may be deemed to be the beneficial owners of the
Common Stock pursuant to Regulation Section 240.13d-3 promulgated under the
Securities Exchange Act of 1934; and
WHEREAS, the Shareholders from time to time must file statements pursuant
to certain sections of the Securities Exchange Act of 1934 concerning their
ownership of Common Stock.
NOW, THEREFORE, in consideration of the premises the Shareholders agree:
1. That the Shareholders do hereby agree to file jointly with the
Securities Exchange Commission any schedules or other filings or amendments
thereto made by or on behalf of the Shareholders pursuant to Section 13(d) of
the Securities Exchange Act of 1934.
2. This Agreement shall be governed in accordance with the laws of Ohio,
may be amended only in writing and may be terminated by either party upon ten
days written notice. In the event of termination, each party shall remain liable
for his or her shares of the expenses incurred to the date of termination and
shall promptly pay their share of expenses, upon receipt of invoice, to the
remaining party.
IN WITNESS WHEREOF, the parties have executed this Agreement on the date
set forth above.
s/William P. Hales
---------------------------------
William P. Hales
/s/Jerry L. Ruyan
---------------------------------
Jerry L. Ruyan
/s/Thomas A. Donelan
---------------------------------
Thomas A. Donelan
/s/Christopher P. Hendy
----------------------------------
Christopher P. Hendy
REDWOOD HOLDINGS, INC.
By:/s/ Thomas A Donelan
---------------------------------
Thomas A. Donelan
President
