SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
-----------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )(1)
GREG MANNING AUCTIONS, INC.
- - --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.01 PAR VALUE
- - --------------------------------------------------------------------------------
(Title of class of securities)
563823103
- - --------------------------------------------------------------------------------
(CUSIP number)
BRUCE A. RICH, ESQ.
BECKER, GLYNN, MELAMED & MUFFLY LLP
299 Park Avenue
New York, New York 10171
(212) 888-3033
- - --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
JULY 25, 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 / /.
Note. Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
- - --------
(1) 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 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).
<PAGE>
- - ------------------------------ -----------------------------------
CUSIP NO. 563823103 Page 2 of 6
- - ------------------------------ -----------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
AFINSA BIENES TANGIBLES S.A.
(No S.S. or I.R.S. Identification No.)
- - --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- - --------------------------------------------------------------------------------
3 SEC USE ONLY
- - --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- - --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- - --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
SPAIN
- - --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 291,000
-------------------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
-0-
-------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
291,000
-------------------------------------------------------------
PERSON WITH
10 SHARED DISPOSITIVE POWER
-0-
- - --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
291,000
- - --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- - --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- - --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- - --------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- - ------------------------------ -----------------------------------
CUSIP NO. 563823103 Page 3 of 6
- - ------------------------------ -----------------------------------
Item 1. SECURITY AND ISSUER.
This statement relates to shares (the "Shares") of the common stock,
par value $.01 per share ("Common Stock"), of Greg Manning Auctions, Inc. (the
"Issuer"). The principal executive offices of the Issuer are located at 775
Passaic Avenue, West Caldwell, New Jersey 07006.
Item 2. IDENTITY AND BACKGROUND.
This statement is filed by AFINSA Bienes Tangibles S.A., a
corporation organized under the laws of Spain ("AFINSA").
The principal business address of AFINSA is Lagasca, 88, 28001
Madrid, Spain.
The principal business of AFINSA is the trading and auctioning of
rare stamps, coins, art objects, and antiques.
For information with respect to the identity and background of each
director and executive officer of AFINSA, see Schedule A attached hereto.
During the last five years, neither AFINSA nor, to the best of its
knowledge, any person identified on Schedule A has (a) been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
(b) been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which AFINSA or such person, as the case
may be, 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.
All persons identified on Schedule A are citizens of Spain.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of funds used in making the purchases is working capital
of AFINSA. The aggregate purchase price of the 291,000 Shares of Common Stock
funds is approximately $571,906.
Item 4. PURPOSE OF TRANSACTION.
The acquisition of the Shares of the Issuer is solely for investment
purposes. Further acquisitions or sales of Shares may be made for investment
purposes.
Following conversations held in Spring 1997, AFINSA understands
that, after AFINSA has acquired stock of the Issuer, the Issuer's management
would propose to the Board of Directors of the Issuer that AFINSA be given the
opportunity to nominate a director to fill a currently vacant seat in the Board
of Directors of the Issuer.
Other than as set forth herein, AFINSA has no current plans which
relate to or would result in any of the events described in Items (a) through
(j) of the instructions to this Item 4 of Schedule 13D.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of July 31, 1997, the aggregate number of Shares of Common
Stock beneficially owned by AFINSA is 291,000, representing approximately 6.6%
of the total number of Shares of Common Stock outstanding, based on 4,419,997
Shares of Common Stock represented by the Issuer as outstanding as of April 22,
1997 in the Issuer's Quarterly Report on Form 10-QSB for the period ended March
31, 1997.
<PAGE>
- - ------------------------------ -----------------------------------
CUSIP NO. 563823103 Page 4 of 6
- - ------------------------------ -----------------------------------
(b) AFINSA has sole power to vote or direct the vote and to dispose
or direct the disposition of the Shares of the Issuer that are the subject of
this Schedule 13D.
(c) Information concerning transactions in respect of the Common
Stock effected by AFINSA in the past 60 days is set forth in Schedule B hereto.
(d) Not applicable.
(e) Not applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
Following conversations held in Spring 1997, AFINSA understands
that, after AFINSA has acquired Shares of the Issuer, the Issuer's management
would propose to the Board of Directors of the Issuer that AFINSA be given the
opportunity to nominate a director to fill a currently vacant seat in the Board
of Directors of the Issuer.
Item 7. MATERIALS TO BE FILED AS EXHIBITS.
None.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: August 4, 1997
AFINSA BIENES TANGIBLES S.A.
By: /s/ Ramon Egurbide Urigoitia
----------------------------
Sub-Director General
<PAGE>
- - ------------------------------ -----------------------------------
CUSIP NO. 563823103 Page 5 of 6
- - ------------------------------ -----------------------------------
SCHEDULE A
AFINSA DIRECTORS AND EXECUTIVE OFFICERS
Name Principal Occupation or Employment
- - ---- ----------------------------------
Albertino de Figueiredo President and Chairman
Juan Antonio Cano Cuevas Chief Executive Officer (Director General)
Vicente Martin Pena Executive Vice President - Marketing
(Sub-director General)
Ramon Egurbide Urigoitia Executive Vice President - Administration
and Finance (Sub-director General)
Fernando Burdiel Vice President - Business
Carlos de Figueiredo Vice President - Philately
Joaquin Abajo General Counsel
Emilio Ballester Tax Advisor (Consultor Fiscal)
All the officers listed above are also directors of AFINSA (Consejo de
Direccion). The business address of all executive officers and directors is
Lagasca 88, 28001 Madrid, Spain.
<PAGE>
- - ------------------------------ -----------------------------------
CUSIP NO. 563823103 Page 6 of 6
- - ------------------------------ -----------------------------------
SCHEDULE B
TRANSACTIONS IN COMMON STOCK FROM 5/26/97 THROUGH 7/31/97
DATE QUANTITY PRICE TRANSACTION TYPE
---- -------- ----- ----------------
6/25/97 3,500 1.7118 Open Mkt. Purchase
6/26/97 11,500 1.9198 Open Mkt. Purchase
6/30/97 32,500 1.9783 Open Mkt. Purchase
7/1/97 2,000 1.9680 Open Mkt. Purchase
7/2/97 6,000 1.9680 Open Mkt. Purchase
7/3/97 4,500 1.9680 Open Mkt. Purchase
7/7/97 16,500 1.9680 Open Mkt. Purchase
7/8/97 12,000 2.0000 Open Mkt. Purchase
7/16/97 15,000 2.0262 Open Mkt. Purchase
7/17/97 10,000 2.0262 Open Mkt. Purchase
7/21/97 17,500 2.0000 Open Mkt. Purchase
7/24/97 25,000 2.0000 Open Mkt. Purchase
7/25/97 75,000 1.9646 Open Mkt. Purchase
7/29/97 30,000 1.9375 Open Mkt. Purchase
7/30/97 5,000 1.9375 Open Mkt. Purchase
7/31/97 25,000 1.9062 Open Mkt. Purchase
Each of the above transactions was effected by Banco Santander on behalf of
AFINSA.
