<PAGE> 1
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)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
U.S. Can Corporation
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value (including the associated
Preferred Share Purchase Rights)
--------------------------------------------------------------------------------
(Title of Class of Securities)
90328W105
--------------------------------------------------------------------------------
(CUSIP Number)
Paul W. Jones, 900 Commerce Drive, Oak Brook, Illinois, 60523; Tel: 630-571-2501
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 20, 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(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
CUSIP NO. 90328W105 13D PAGE 2 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Paul W. Jones
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
380,667
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
380,667
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
380,667
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [X]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.77% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 90328W105 PAGE 3 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
John L. Workman
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
SEE Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
104,250
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
104,250
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
104,250
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.77% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 4
CUSIP NO. 90328W105 13D PAGE 4 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Ricardo Poma
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of El Salvador
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
918,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
2,133
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
918,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,133
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
920,133
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.84% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 5
CUSIP NO. 90328W105 13D PAGE 5 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Salcorp Ltd.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
340,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
340,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
340,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.53% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 6
CUSIP NO.90328W105 13D PAGE 6 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Katsura, S.A.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Panama
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
60,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
60,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.45% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 7
CUSIP NO. 90328W105 13D PAGE 7 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Barcel Corporation
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
518,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
518,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.85% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 8
CUSIP NO. 90328W105 13D PAGE 8 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Scarsdale Company N.V., Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [x]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bahamas
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
4,266
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
4,266
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,266
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.03% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 9
CUSIP NO.90328W105 13D PAGE 9 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Francisco A. Soler
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of El Salvador
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
469,233
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
469,233
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
469,233
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.49% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 10
CUSIP NO. 90328W105 13D PAGE 10 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Windsor International Corporation
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
226,100
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
226,100
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
226,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.68% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 11
CUSIP NO. 90328W105 13D PAGE 11 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Atlas World Carriers S.A.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Panama
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
123,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
123,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.91% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 12
CUSIP NO. 90328W105 13D PAGE 12 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
The World Financial Corporation S.A.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Panama
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
118,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
118,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
118,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.88% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 13
CUSIP NO. 90328W105 13D PAGE 13 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Roger B. Farley
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
81,334
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
81,334
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,334
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.64% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 14
CUSIP NO. 90328W105 13D PAGE 14 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
David R. Ford
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
39,334
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
39,334
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
39,334
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.29% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 15
CUSIP NO. 90328W105 13D PAGE 15 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Thomas A. Scrimo
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
25,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
25,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.19% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 16
CUSIP NO. 90328W105 13D PAGE 16 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
J. Michael Kirk
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
33,200
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
33,200
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,200
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 17
CUSIP NO. 90328W105 13D PAGE 17 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Gillian V.N. Derbyshire
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
32,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
32,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.24% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 18
SCHEDULE 13D
CUSIP NO. 90328W105 PAGE 18 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Carl Ferenbach
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
72,992
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
72,992
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,992
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.54% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 19
CUSIP NO. 90328W105 13D PAGE 19 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Louis B. Susman
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
3,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
3,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
<PAGE> 20
CUSIP NO. 90328W105 13D PAGE 20 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Salomon Smith Barney Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,204,488
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,204,488
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,204,488
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.96% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
BD
--------------------------------------------------------------------------------
<PAGE> 21
CUSIP NO. 90328W105 13D PAGE 21 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Salomon Brothers Holding Company Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,204,488
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,204,488
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,204,488
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.96% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 22
CUSIP NO. 90328W105 13D PAGE 22 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Salomon Smith Barney Holdings Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,214,588
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,214,588
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,214,588
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.04% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
HC
--------------------------------------------------------------------------------
<PAGE> 23
CUSIP NO. 90328W105 13D PAGE 23 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Citigroup Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,214,588
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,214,588
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,214,588
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.04% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
HC
--------------------------------------------------------------------------------
<PAGE> 24
CUSIP NO. 90328W105 13D PAGE 24 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Lennoxville Investments, Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
See Item 2 (b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Panama
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
148,200
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
148,200
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
148,200
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.10% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 25
SCHEDULE 13D
CUSIP NO. 90328W105 PAGE 25 OF 100 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Empire Investments, S.A.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [x]
See Item 2
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bahamas
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
304,700
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
304,700
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22% See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
<PAGE> 26
ITEM 1. SECURITY AND ISSUER
This Statement on Schedule 13D (this "Statement") relates to the Common
Stock, $0.01 par value (the "Common Stock"), of U.S. Can Corporation ("U.S. Can"
or the "Company"), a Delaware corporation and the associated preferred share
purchase rights of the Company. The address of U.S. Can's principal executive
offices is:
U.S. Can Corporation
900 Commerce Drive
Oak Brook, Illinois 60523
ITEM 2. IDENTITY AND BACKGROUND
Schedule A hereto and incorporated by reference herein lists each of
the persons filing this Statement (each a "Reporting Person"), and his, her or
its business address, principal occupation or business, and citizenship or state
of organization. Schedule B hereto and incorporated by reference herein lists
each of the persons enumerated in Instruction C of Schedule 13D, and his, her or
its business address, principal occupation or business, and citizenship or state
of organization.
During the last five years, no Reporting Person or person listed on
Schedule B hereto has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
This Statement is being filed because there may be deemed to have been
the formation of a "group" (as contemplated by Rule 13d-5(b) under the
Securities Exchange Act of 1934, as amended (the "Exchange Act")) consisting of
the Reporting Persons. Each of the Reporting Persons expressly declares that
this Statement shall not be construed as an admission that any such "group" has
been formed or that any such Reporting Person is, for purposes of Section 13(d)
or 13(g) of the Exchange Act, the beneficial owner of any shares of Common Stock
owned by any other Reporting Person. Each Reporting Person has provided its own
information and disclaims responsibility for information provided by any other
Reporting Person.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
This Statement does not report the acquisition of any additional shares
of Common Stock by any of the Reporting Persons except insofar as any of the
Reporting Persons may be deemed for purposes of Section 13(d) or 13(g) of the
Exchange Act to have acquired beneficial ownership of the shares of Common Stock
held by any other Reporting Person because there may be deemed to have been the
formation of a "group" (as contemplated by Rule 13d-5(b)). As such, there is no
use of funds or other consideration to report. Each of the Reporting Persons
expressly declares that this Statement shall not be construed as an admission
that any such "group" has been formed or that any such Reporting Person is, for
purposes of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of
shares of Common Stock owned by any other Reporting Person.
ITEM 4. PURPOSE OF TRANSACTION
On June 1, 2000, Pac Packaging Acquisition Corporation, a Delaware
corporation ("Pac"), and the Company entered into an Agreement and Plan of
Merger (as amended on June 28, 2000, the "Merger Agreement") to effect a
recapitalization of the Company. Pac is a newly formed corporation organized by
Paul W. Jones, Chairman and Chief Executive Officer of the Company, John L.
Workman, Chief Financial Officer of the Company and Berkshire Partners LLC, a
private equity firm ("Berkshire
<PAGE> 27
Partners"). Pursuant to the terms and subject to the conditions of the Merger
Agreement, Pac will be merged with and into the Company (the "Merger") and each
share of Common Stock outstanding at the effective time of the Merger will be
converted into the right to receive $20.00 per share in cash, except for certain
shares of Common Stock held by the Reporting Persons and for shares of Common
Stock held by stockholders who perfect their appraisal rights under Delaware
law. The shares of Common Stock held by the Reporting Persons and the shares of
common stock of Pac will be converted into capital stock of the surviving
corporation as described in the Merger Agreement. The consummation of the Merger
is subject to a number of conditions, including approval of the Merger by the
Company's stockholders and the receipt of financing and governmental approvals.
If the Merger is consummated, it is expected that the Company will
cease to be a public company and that the Common Stock will cease to be traded
on the New York Stock Exchange and the only remaining stockholders of the
Company immediately after such consummation would be the Reporting Persons. It
is also anticipated that the Common Stock would become eligible for termination
of registration under the Exchange Act upon consummation of the Merger.
Upon consummation of the Merger, it is expected that the board of
directors of the Company will be made up solely of directors designated by the
Reporting Persons. It is also anticipated that the current management of the
Company will continue to be the management of the Company after consummation of
the Merger.
In connection with the Merger, it is anticipated that certain
affiliates of Berkshire Partners will acquire a controlling equity interest in
the Company (approximately 77%) in exchange for an investment of up to $170
million. On June 20, 2000, each of the Reporting Persons who currently holds
shares of Common Stock in the Company agreed to participate in the Merger by
retaining at least a portion of their present equity interest in the Company
after consummation of the Merger. In connection with the Merger, the following
Reporting Persons will be selling the enumerated portion of their shares of
Common Stock on the same terms available to the other stockholders of the
Company.
<TABLE>
<CAPTION>
Name of Reporting Person Number of Shares being Sold
------------------------ ---------------------------
<S> <C>
Paul W. Jones1/ 2,000
-
Ricardo Poma2/ 570,133
-
Salcorp Ltd. 192,133
Katsura, S.A. 60,000
Barcel Corporation 318,000
Francisco A. Soler3/ 319,233
-
Windsor International Corporation 158,233
Atlas World Carriers S.A. 83,000
The World Financial Corporation 78,000
Louis B. Susman 3,000
Salomon Smith Barney Inc. 973,272
Salomon Brothers Holding Company Inc.4/ 973,272
-
Salomon Smith Barney Holdings Inc.4/ 973,272
-
</TABLE>
--------------------------
1/ Represents shares of Common Stock owned by Mrs. Paul W. Jones.
-
2/ Represents shares of Common Stock owned by Salcorp Ltd., Katsura, S.A.,
- and Barcel Corporation.
3/ Represents shares of Common Stock owned by Windsor International
- Corporation, Atlas World Carriers S.A. and The World Financial Company
S.A.
4/ Represents shares of Common Stock owned by Salomon Smith Barney Inc.
-
<PAGE> 28
<TABLE>
<S> <C>
Citigroup Inc.4/ 973,272
--
Carl Ferenbach 22,992
Lennoxville Investments, Inc. 58,200
Empire Investments S.A. 194,700
</TABLE>
In addition, following the Merger, Salomon Smith Barney Inc. may sell some of
its shares of capital stock of the Company to certain affiliates of Berkshire
Partners.
In connection with the Merger, the following Reporting Persons will
convert the remaining portion of their equity investment in the Company into the
following:
<TABLE>
<CAPTION>
Number of Shares Number of Shares
of Common Stock of Preferred Stock
of U.S. Can Acquired of U.S. Can Acquired
Upon Conversion In Upon Conversion In
Name of Reporting Person the Merger the Merger
------------------------ ---------- ----------
<S> <C> <C>
Paul W. Jones 32,000 0
John L. Workman 9,500 0
Ricardo Poma1/ 109,450 4,810,996
-
Salcorp Ltd. 46,240 2,032,536
Barcel Corporation 62,543 2,749,141
Scarsdale Company N.V., Inc. 1,334 58,639
Francisco A. Soler2/ 46,908 2,061,856
-
Windsor International Corporation 21,223 932,880
Atlas World Carriers S.A. 12,509 549,828
The World Financial Corporation S.A. 12,509 549,828
Roger B. Farley 6,000 0
David R. Ford 15,000 0
J. Michael Kirk 5,000 0
Gillian V.N. Derbyshire 5,000 0
Carl Ferenbach 15,636 687,285
Salomon Smith Barney Inc. 138,833 6,102,557
Salomon Brothers Holding Company Inc.3/ 138,833 6,102,557
-
Salomon Smith Barney Holdings Inc.3/ 138,833 6,102,557
-
Citigroup Inc.3/ 138,833 6,102,557
-
Lennoxville Investments, Inc. 28,144 1,237,113
Empire Investments, S.A. 34,399 1,512,027
</TABLE>
--------------------------
1/ Represents shares owned by Salcorp Ltd. (100%), Barcel Corporation
- (100%) and Scarsdale Company N.V., Inc. (50%).
2/ Represents shares owned by Windsor International Corporation (100%),
- Atlas World Carriers S.A. (100%), The World Financial Corporation S.A.
(100%) and Scarsdale Company N.V., Inc. (50%).
3/ Represents shares owned by Salomon Smith Barney Inc.
-
<PAGE> 29
In addition, the following Reporting Persons will acquire additional
shares of Common Stock in connection with the Merger:
<TABLE>
<CAPTION>
Name of Reporting Person Number of Shares Being Purchased
------------------------ --------------------------------
<S> <C>
Paul W. Jones 67,132
John L. Workman 49,068
David B. Ford 16,167
Gillian V.N. Derbyshire 12,708
J. Michael Kirk 12,708
Roger B. Farley 22,333
Thomas A. Scrimo 11,333
</TABLE>
Except as otherwise described in this Item 4 or in Item 6 of this
Statement, none of the Reporting Persons or, to the knowledge of the Reporting
Persons, none of the persons listed on Schedule B hereto, has any current plans
or proposals which relate to or would result in: (a) the acquisition by any of
them of additional securities of the Company, or the disposition of the
securities of the Company; (b) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation involving the Company or any of its
subsidiaries; (c) a sale or transfer of a material amount of assets of the
Company or any of its subsidiaries; (d) any change in the present board of
directors or management of the Company, 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 Company; (f) any other material change in the Company's business or
corporate structure; (g) changes in the Company's charter or bylaws or other
actions which may impede the acquisition of control of the Company by any
person; (h) causing a class of securities of the Company to be delisted from a
national securities exchange or cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) a class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Exchange Act, or
(j) any action similar to those enumerated above.
Notwithstanding the foregoing, each of the Reporting Persons will
continue to evaluate the Company's business and operations after the Merger from
time to time, and may propose or develop new plans and proposals which it
considers to be in the best interests of the Reporting Person, the Company and
its stockholders. In addition, each of the Reporting Persons reserves the right
to take such action in the future as he, she or it deems necessary or desirable
in connection with his, her or its investment in the Company.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The following table sets forth the aggregate number and percentage of
shares of Common Stock beneficially owned (identifying those shares which there
is a right to acquire) by each of the Reporting Persons individually and by all
of the Reporting Persons together. To the knowledge of the Reporting Persons,
none of the persons listed on Schedule B hereto own shares of Common Stock.
Based on information in the Company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2000, there were 13,441,999 shares of Common Stock
outstanding as of April 30, 2000.
<TABLE>
<CAPTION>
Sole Power Shared
Name Number of to Vote or Power
---- Shares Percent Dispose to Vote or
------ ------- -------- Dispose
-------
<S> <C> <C> <C> <C>
Paul W. Jones(1) 380,667 2.77 380,667 0
--------------------------------------------------------------------------------------------------------------------------------
John L. Workman(2) 104,250 0.77 104,250 0
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 30
<TABLE>
<CAPTION>
Sole Power Shared
Name Number of to Vote or Power
---- Shares Percent Dispose to Vote or
------ ------- -------- Dispose
-------
<S> <C> <C> <C> <C>
Ricardo Poma(3) 920,133 6.84 918,000 2,133
Salcorp Ltd.(3) 340,000 2.53 340,000 0
Katsura, S.A.(3) 60,000 0.45 60,000 0
Barcel Corporation(3) 518,000 3.85 518,000 0
Scarsdale Company N.V., Inc.(3) (4) 4,266 0.03 0 4,266
Francisco A. Soler(4) 469,233 3.49 0 469,233
Windsor International Corporation(4) 226,100 1.68 0 226,100
Atlas World Carriers S.A.(4) 123,000 0.91 0 123,000
The World Financial Corporation S.A.(4) 118,000 0.88 0 118,000
Roger B. Farley(5) 81,334 0.64 81,334 0
David R. Ford(6) 39,334 0.29 39,334 0
Thomas A. Scrimo(7) 25,000 0.19 25,000 0
J. Michael Kirk(8) 33,200 0.25 33,200 0
Gillian V. N. Derbyshire(9) 32,000 0.24 32,000 0
Carl Ferenbach(10) 72,992 0.54 72,992 0
Louis B. Susman 3,000 0.02 3,000 0
Salomon Smith Barney Inc. 1,204,488 8.96 0 1,204,488
Salomon Brothers Holding Company Inc.(11) 1,204,488 8.96 0 1,204,488
Salomon Smith Barney Holdings Inc.(11) 1,214,588 9.04 0 1,214,588
Citigroup Inc.(11) 1,214,588 9.04 0 1,214,588
Lennoxville Investments, Inc. 148,200 1.10 148,200 0
Empire Investments, S.A. 304,700 2.22 304,700 0
Total: 3,828,631 27.22 -- --
</TABLE>
(1) Includes 2,000 shares owned beneficially by Mr. Jones' spouse (of which
Mr. Jones disclaims beneficial ownership) and 346,667 shares subject to
currently exercisable options.
(2) Includes 94,750 shares subject to currently exercisable options.
(3) Salcorp Ltd. ("Salcorp") is the record holder of 340,000 shares of
Common Stock and Katsura, S.A. ("Katsura") is the record holder of
60,000 shares of Common Stock. Mr. Poma is the sole
<PAGE> 31
stockholder of both Salcorp and Katsura, and is therefore deemed the
beneficial owner of such shares. Scarsdale Company N.V., Inc.
("Scarsdale"), a company associated or affiliated with Mr. Poma, owns
4,266 shares of Common Stock of which Mr. Poma claims beneficial
ownership of 2,133 shares. The remaining 518,000 shares of Common Stock
reported as beneficially owned by Mr. Poma are held by Barcel
Corporation ("Barcel"). Barcel is wholly owned by United Capital
Corporation, which is wholly owned by Inversal Trust, a family trust,
of which Mr. Poma is also the trustee.
(4) Windsor International Corporation, Atlas World Carriers S.A., The World
Financial Corporation S.A. and Scarsdale, corporations affiliated or
associated with Mr. Soler or certain of Mr. Soler's relatives, hold
226,100, 123,000, 118,000 and 4,266 shares of Common Stock,
respectively. Mr. Soler claims beneficial ownership of 2,133 shares of
Common Stock owned by Scarsdale.
(5) Includes 75,334 shares subject to currently exercisable options.
(6) Includes 24,334 shares subject to currently exercisable options.
(7) Includes 25,000 shares subject to currently exercisable options.
(8) Includes 28,200 shares subject to currently exercisable options.
(9) Includes 27,000 shares subject to currently exercisable options.
(10) Mr. Ferenbach is a Managing Director of Berkshire Partners.
(11) Salomon Smith Barney is the beneficial owner of 1,204,488 shares of
Common Stock.
Excluding agency and fiduciary transactions that may have been executed
by wholly owned subsidiaries of Citigroup Inc., there have been no transactions
in the Common Stock that were effected during the past sixty days by any of the
Reporting Persons.
To the knowledge of the Reporting Persons, none of the persons listed
on Schedule B hereto have effected any transactions in the Common Stock in the
past sixty days.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
For a description of the Merger Agreement, see below and Item 4 of this
Statement.
Initial Stockholders Agreement
In connection with the Company's initial public offering of Common
Stock in March 1993 (the "IPO"), the Company entered into an agreement (the
"Initial Stockholders Agreement") with its stockholders immediately prior to the
IPO pursuant to which each of Salomon Smith Barney Inc. (successor-in-interest
to Salomon Brothers Inc.) and Messrs. Poma and Soler, for so long as each of
them owns beneficially at least 175,000 shares of Common Stock, has the right to
submit a name to the board of directors of the Company to be included in the
slate of nominees for election to the board of directors. The Initial
Stockholders Agreement provides that, if a designee ceases to serve for any
reason, the party who submitted the name of such designee has the right to name
a successor for approval by the board of directors to fill the vacancy so
created, and any director so chosen shall hold office for a term expiring at the
Company's annual meeting at which the term of office of the class to which such
director has been added expires, or until such director's successor has been
duly elected and qualified. The Initial Stockholders Agreement also provides for
certain registration rights.
<PAGE> 32
Proposed New Stockholders Arrangements
All of the shares of U.S. Can common stock and U.S. Can preferred stock
outstanding immediately after the recapitalization will be subject to the terms
of several new stockholders agreements to be entered into by all of the common
and preferred shareholders of the Company (the "New Stockholders Agreements").
Pursuant to the terms of the New Stockholders Agreements, sixty percent of the
common stock of U.S. Can that will be held by Mr. Jones, Mr. Workman, Mr. Ford,
Mr. Farley, Mr. Scrimo, Ms. Derbyshire and Mr. Kirk immediately after the Merger
will be subject to a two-year vesting period. The remaining forty percent of the
common stock of U.S. Can that will be held by such management stockholders will
be subject to both a five-year vesting period and a requirement that the
affiliates of Berkshire Partners who are shareholders shall have achieved at
least a 25% annualized internal rate of return on their equity investment in
U.S. Can as determined at the time such shareholders sell their equity
investment in U.S. Can. The shares of common stock of U.S. Can held by
management after the Merger will be subject to certain repurchase rights and
obligations.
U.S. Can will establish an incentive stock option plan providing for
the grant of time and performance vesting options to U.S. Can employees
exercisable, in the aggregate, for up to 5.75% of the common stock of U.S. Can
on a fully diluted basis. Of these, 4.35% will be subject to 5-year time-based
vesting only and 1.40% will be subject to 5-year time-based vesting and a
requirement that the affiliates of Berkshire Partners who are shareholders shall
have achieved at least a 25% annualized internal rate of return on their equity
investment in U.S. Can as determined at the time such shareholders sell their
equity interest in U.S. Can. Mr. Jones, Mr. Workman, Mr. Scrimo, Ms. Derbyshire
and Mr. Kirk will receive options exercisable for 0.50%, 0.75%, 0.60%, 0.375%
and 0.375% of the outstanding common shares of U.S. Can, respectively. The
remaining options will be issuable to other employees of U.S. Can. The options
to purchase shares of common stock of U.S. Can held by management after the
Merger, and the shares issued upon their exercise, will be subject to certain
payment and repurchase rights and obligations.
The preferred stock to be issued by the Company will have an initial
aggregate principal amount of up to $113,333,333 and will be non-voting and
non-convertible and will have cumulative cash dividends of 10% per year, payable
only as, if and when declared by the board of directors.
So long as U.S. Can is not paying default interest under any of its
financing arrangements, a supermajority vote of the common stockholders will be
required to approve and adopt mergers, acquisitions, charter or bylaw
amendments, extraordinary capital expenditures, extraordinary borrowings,
dividends, stock issuances and certain other matters. A supermajority vote will
be required at all times for a financial restructuring that treats the
management stockholders differently and adversely from the rest of the common
stockholders.
No stockholder will be permitted to transfer any shares within three
years of the reorganization except for certain permitted transfers. After such
three-year period, shares may be transferred only pursuant to a right of first
refusal in favor of U.S. Can and, if U.S. Can declines its right, the other
stockholders on a pro rata basis. If the right of first refusal is not
exercised, then all other investors will be given the option to sell their
shares on a pro rata basis on the same terms and conditions to the same buyer
except that stockholders owning four percent or less of the outstanding shares
may transfer such shares without giving other holders the right to sell on the
same terms and conditions as long as they have complied with the right of first
refusal.
If any of the stockholders, individually or collectively, determine to
sell a significant portion of the then issued and outstanding shares of U.S.
Can, then at the election of such stockholders, each of the other stockholders
will be required to sell the same proportion of their stock as the initiating
stockholders
<PAGE> 33
on the same terms and conditions. Stockholders will have pre-emptive rights to
subscribe for newly issued shares on a pro rata basis, subject to certain
exclusions. Stockholders will have registration rights with respect to their
shares. Most of the restrictions contained in the stockholders agreement will
terminate upon consummation of a qualified initial public offering of common
stock by U.S. Can or a change in control of U.S. Can.
Except as described in this Item 6 or in Item 4 or Item 5 of this
Statement, none of the Reporting Persons and, to the knowledge of the Reporting
Persons, none of the persons listed on Schedule B hereto, has any contracts,
arrangements, or understandings (legal or otherwise) between or among themselves
or with the Company or any other person with respect to any securities of the
Company.
Financing
Pac has received a commitment letter from Berkshire Partners to
purchase on the closing date of the Merger equity securities of Pac representing
100% of Pac's common stock for an aggregate amount of up to $170 million.
Berkshire Partners may allocate a portion of its investment to other investors
including the management team of U.S. Can and certain other investors of U.S.
Can. The commitment letter provides that Berkshire Partners expects to subscribe
for a minimum of $100 million of such equity. Berkshire's obligations under the
commitment letter are subject to certain conditions, including the execution of
the Merger Agreement, the satisfaction of all conditions precedent to Pac's
obligations under the Merger Agreement, the closing of the Merger, the funding
of the loans described below, and the execution and delivery of mutually
acceptable documentation. Berkshire Partner's commitment terminates if the
Merger is not completed on or before October 31, 2000.
Pac and Berkshire Partners have received a commitment letter from Bank
of America, N.A., Banc of America Securities LLC, Citicorp North America, Inc.
and Salomon Smith Barney Inc. to provide up to $450 million in senior secured
financing to fund a portion of the Merger consideration and related expenses and
to provide for the ongoing working capital needs of United States Can Company,
the borrower and a wholly owned subsidiary of U.S. Can. It is expected that the
senior secured credit facility will be in the form of a $300 million term loan
facility and $150 million revolving facility. The term and revolving facilities
are expected to have terms ranging from six to eight years and bear interest at
floating rates.
The senior secured credit facility will be secured by a first priority
lien on substantially all of the outstanding capital stock and assets of United
States Can Company and its domestic subsidiaries. Additionally, U.S. Can and all
of its domestic subsidiaries except for United States Can Company will guarantee
the loans under the senior secured credit facility. Moreover, certain designated
foreign subsidiaries of U.S. Can will also guarantee the loans extended to them.
The senior secured credit facility will contain customary financial and other
covenants, including restrictions on liens, mergers, consolidations and sales of
assets, the payment of dividends and the incurrence of other debt.
U.S. Can expects that United States Can Company will also issue $150
million of senior subordinated notes. The interest rate and other terms of the
senior subordinated notes will depend upon interest rate and market conditions
at the time of their issuance. However, it is anticipated that the senior
subordinated notes will have the following features: a maturity of 10 years from
the issue date, be unsecured obligations and rank senior to all subordinated
indebtedness of United States Can Company, be subordinated to any senior
indebtedness of United States Can Company, including the senior secured credit
facility, and be guaranteed by U.S. Can and by all domestic and foreign
subsidiaries of United States Can Company and U.S. Can which guarantee the
senior secured credit facility. U.S. Can expects that the senior subordinated
notes will also contain covenants that are customary for this type of financing,
including restrictions on dividends, stock repurchases, liens, indebtedness,
affiliate transactions, assets sales and mergers. It is expected that the senior
subordinated debt securities will be issued in a private offering to be
consummated prior to or concurrently with the Merger.
<PAGE> 34
If the $150 million senior subordinated debt offering is unable to be
completed due to then current market conditions, Pac and Berkshire Partners have
obtained a bridge loan commitment to provide this portion of the financing. Pac
and Berkshire Partners have received a commitment letter from Bank of America
Bridge LLC, Citicorp North America, Inc. and Salomon Smith Barney Inc. to
provide up to $150 million in interim financing in place of the senior
subordinated notes. United States Can Company would be the borrower under this
bridge loan facility. It is expected that the bridge loan facility will have the
following features: a one-year term, subject to certain extension rights, be
unsecured obligations and rank senior to all subordinated indebtedness of United
States Can Company and subordinated to any secured indebtedness of United States
Can Company, including the senior secured credit facility, pay interest at
floating rates, be guaranteed by the domestic and foreign subsidiaries of United
States Can Company and U.S. Can which guarantee the senior secured credit
facility, and contain customary financial and other covenants for this type of
financing, including restrictions on dividends, stock repurchases, liens,
indebtedness, assets and mergers.
The commitments for the senior secured credit facility and the bridge
loan facility are subject to customary conditions, including the preparation and
execution of definitive loan agreements and related documents and the absence of
any material change in the business of Pac, U.S. Can and, for the senior secured
credit facility, United States Can Company. The commitments expire on October
31, 2000.
Note Repurchase and Consent
Pursuant to the terms of the Merger Agreement, the Company and Pac have
agreed to take all necessary actions to repurchase some or all of the Company's
outstanding 10 1/8% senior unsubordinated notes and to obtain the consent of at
least a majority of the principal amount of such notes outstanding to permit the
Merger and related financings and other transactions to be effected without
constituting a breach or default under the original indenture.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 99.1 - Agreement and Plan of Merger, dated as of June 1, 2000,
by and between the Company and Pac Packaging Acquisition
Corporation (Filed as Exhibit 2 to the Company's Current
Report on Form 8-K dated June 1, 2000, and incorporated
by reference herein.)
Exhibit 99.2 - Joint Filing Agreement Pursuant to Rule 13d-1(f)
Exhibit 99.3 - Stockholders Agreement (Filed as Exhibit 10.25 to the
Company's Annual Report on Form 10-K for the year ended
December 31, 1992, and incorporated by reference herein.)
Exhibit 99.4 - First Amendment to Agreement and Plan of Merger, dated as
of June 28, 2000 by and between the Company and Pac
(Filed as Exhibit (d)(2) to the Schedule 13E-3 filed on
June 30, 2000, and incorporated herein by reference.)
<PAGE> 35
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 28, 2000
/s/ Paul W. Jones
------------------------------------
Paul W. Jones, individually
<PAGE> 36
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 28, 2000
/s/ John L. Workman
-----------------------------------
John L. Workman, individually
<PAGE> 37
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ Ricardo Poma
-------------------------------------
Ricardo Poma, individually
<PAGE> 38
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
SALCORP LTD.
/s/ Ricardo Poma
--------------------------------
By: Ricardo Poma
Title: President
<PAGE> 39
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
KATSURA, S.A.
/s/ Ricardo Poma
--------------------------------
By: Ricardo Poma
Title: President
<PAGE> 40
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
BARCEL CORPORATION
/s/ Lloydtru Limited
------------------------------------
By: Lloydtru Limited
Title: Director
<PAGE> 41
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
SCARSDALE COMPANY N.V., INC.
/s/ Francisco A. Soler
----------------------------------------
By: Francisco A. Soler
Title: President
<PAGE> 42
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ Francisco A. Soler
------------------------------------------
Francisco A. Soler, individually
<PAGE> 43
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
WINDSOR INTERNATIONAL CORPORATION
/s/ Francisco A. Soler
--------------------------------------
By: Francisco A. Soler
Title: President
<PAGE> 44
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
ATLAS WORLD CARRIERS S.A.
/s/ Francisco A. Soler
----------------------------------
By: Francisco A. Soler
Title: President
<PAGE> 45
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
THE WORLD FINANCIAL CORPORATION S.A.
/s/ Francisco A. Soler
------------------------------------
By: Francisco A. Soler
Title: President
<PAGE> 46
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 28, 2000
/s/ Roger B. Farley
----------------------------------------
Roger B. Farley, individually
<PAGE> 47
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 29, 2000
/s/ David R. Ford
---------------------------------------
David R. Ford, individually
<PAGE> 48
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 28, 2000
/s/ Thomas A. Scrimo
---------------------------------------------
Thomas A. Scrimo, individually
<PAGE> 49
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ J. Michael Kirk
---------------------------------------
J. Michael Kirk, individually
<PAGE> 50
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ Gillian V.N. Derbyshire
---------------------------------------
Gillian V.N. Derbyshire, individually
<PAGE> 51
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ Carl Ferenbach
----------------------------------
Carl Ferenbach, individually
<PAGE> 52
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
/s/ Louis B. Susman
------------------------------------
Louis B. Susman, individually
<PAGE> 53
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 29, 2000
SALOMON SMITH BARNEY INC.
/s/ Howard Darmstadter
---------------------------------
By: Howard Darmstadter,
Assistant Secretary
<PAGE> 54
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 29, 2000
SALOMON BROTHERS HOLDING COMPANY
INC.
/s/ Howard Darmstadter
------------------------------------
By: Howard Darmstadter,
Assistant Secretary
<PAGE> 55
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 29, 2000
SALOMON SMITH BARNEY HOLDINGS INC.
/s/ Howard Darmstadter
------------------------------------
By: Howard Darmstadter,
Assistant Secretary
<PAGE> 56
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
CITIGROUP INC.
/s/ J.B. Wollard
--------------------------------
By: Joseph B. Wollard,
Assistant Secretary
<PAGE> 57
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 28, 2000
LENNOXVILLE INVESTMENTS, INC.
/s/ Carlos Mejia
--------------------------------------
By: Carlos Mejia
Title: President
<PAGE> 58
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: June 30, 2000
EMPIRE INVESTMENTS, S.A.
/s/ Diego Ribadeneria
---------------------------------
By: Diego Ribadeneria
Title:
<PAGE> 59
<TABLE>
<CAPTION>
Schedule A
----------
Persons Filing Schedule 13D
---------------------------
Citizenship or Place of
Name and Business Address Occupation or Principal Business Organization
------------------------- -------------------------------- ------------
<S> <C> <C>
Paul W. Jones Chairman of the Board, President and U.S.A.
900 Commerce Drive Chief Executive Officer of U.S. Can
Oak Brook, IL 60523
John L. Workman Executive Vice President and Chief U.S.A.
900 Commerce Drive Financial Officer of U.S. Can
Oak Brook, IL 60523
Ricardo Poma Managing Partner and Chief Executive Republic of El Salvador
Calle Boulevard Constitucion Officer of Grupo Poma, a family holding
#169 company involved in automobile
Colonia Escalon distribution, hotels, real estate
San Salvador, El Salvador development and manufacturing. Mr.
Poma is a director of U.S. Can.
Salcorp Ltd. Holding company owned by Mr. Poma British Virgin Islands
Pal Chambers #3 which holds real estate and various other
P.O. Box 3152 investments
Roadtown, Tortoga, British
Virgin Islands
Katsura, S.A. Holding company owned by Mr. Poma Panama
Edificio Banco de Boston, 8th which holds and makes various financial
Floor investments
Panama, Republic de Panama
Barcel Corporation Holding company organized by the British Virgin Islands
King and George Streets Poma family which holds a variety of
Nassau, Bahamas financial investments.
Scarsdale Company N.V., Inc. Holding company which holds various Bahamas
Calle La Mascota 221 assets primarily located in the United
San Salvador, El Salvador States.
Francisco A. Soler Chairman of International Bancorp of Republic of El Salvador
Calle La Mascota 221 Miami, Inc., the holding company for
San Salvador, El Salvador The International Bank of Miami, N.A.
Mr. Soler is a director of U.S. Can.
Windsor International Holding company which holds various British Virgin Islands
Corporation assets
Lake Building
Wickhams Cay
P.O. Box 3174
Road Town
Tortola, British Virgin Islands
</TABLE>
<PAGE> 60
<TABLE>
<CAPTION>
Citizenship or Place of
Name and Business Address Occupation or Principal Business Organization
------------------------- -------------------------------- ------------
<S> <C> <C>
Atlas World Carriers S.A. Holding company which holds various Panama
Calle La Mascota 221 assets
San Salvador, El Salvador
The World Financial Holding company which holds various Panama
Corporation S.A. assets
Calle La Mascota 221
San Salvador, El Salvador
Roger B. Farley Senior Vice President, Human Resources U.S.A.
900 Commerce Drive of U.S. Can.
Oak Brook, IL 60523
David R. Ford Senior Vice President, International, and U.S.A.
900 Commerce Drive President, European Operations of U.S.
Oak Brook, IL 60523 Can.
Thomas A. Scrimo Senior Vice President and General U.S.A.
900 Commerce Drive Manager, Aerosol Operations and
Oak Brook, IL 60523 Business Support of U.S. Can.
J. Michael Kirk Executive Vice President, Marketing of U.S.A.
900 Commerce Drive U.S. Can.
Oak Brook, IL 60523
Gillian V. N. Derbyshire Senior Vice President, Paint, Plastic and U.S.A.
900 Commerce Drive General Line of U.S. Can.
Oak Brook, IL 60523
Carl Ferenbach Managing Director, Berkshire Partners U.S.A.
One Boston Place LLC, a Boston-based private equity firm.
Boston, MA 02108
Louis B. Susman Vice Chairman of Investment Banking U.S.A.
c/o Salomon Smith Barney Inc. and Managing Director of Salomon
388 Greenwich Street Smith Barney. Mr. Susman is also a
New York, NY 10013 director of U.S. Can.
Salomon Smith Barney Inc. Broker dealer New York
388 Greenwich Street
New York, NY 10013
Salomon Brothers Holding Broker dealer holding company Delaware
Company Inc.
388 Greenwich Street
New York, NY 10013
Salomon Smith Barney Holding company New York
Holdings Inc.
388 Greenwich Street
New York, NY 10013
</TABLE>
<PAGE> 61
<TABLE>
<CAPTION>
Citizenship or Place of
Name and Business Address Occupation or Principal Business Organization
------------------------- -------------------------------- ------------
<S> <C> <C>
Citigroup Inc. Financial services holding company Delaware
153 East 53rd Street
New York, NY 10043
Lennoxville Investments, Inc. Holding company which holds various Panama
Hongkong Bank Building, 6th assets
Floor
Samuel Lewis Avenue
Panama City, Panama
Empire Investments, S.A. Holding company which holds and Bahamas
Rovert House makes various investments
Market Street North and Bay
Street
P.O.Box N-529
Nassau, Bahamas
</TABLE>
<PAGE> 62
Schedule B
Persons Enumerated in Instruction C of Schedule 13D
<PAGE> 63
SALCORP LTD.
Set forth below is information concerning the sole director and executive
officer of Salcorp Ltd.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Ricardo Poma Director and President. Managing Republic of El Salvador
Calle Boulevard Constitucion Partner and Chief Executive Officer of
#169 Grupo Poma, a family holding company
Colonia Escalon involved in automobile distribution,
San Salvador, El Salvador hotels, real estate development and
manufacturing. Mr. Poma is a director
of U.S. Can.
</TABLE>
<PAGE> 64
KATSURA, S.A.
Set forth below is information concerning the directors and executive
officers of Katsura, S.A.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Ricardo Poma Director and President. Managing Republic of El Salvador
Calle Boulevard Constitucion Partner and Chief Executive Officer of
#169 Grupo Poma, a family holding company
Colonia Escalon involved in automobile distribution,
San Salvador, El Salvador hotels, real estate development and
manufacturing. Mr. Poma is a director
of U.S. Can.
L. Eduardo Poma Director and Treasurer. President of Republic of El Salvador
Poma Hnos. Automotive Division of Grupo Poma
Blvd. Constitucion #169
Col. Escalon, San Salvador, El
Salvador
Rodolfo Pita Director and Secretary. Chief Financial
c/o Transal Corporation Officer of Transal Corporation U.S.A.
2121 S.W.3rd. Ave. #800
Miami, Florida 33129
M. Ernesto Poma Director. President of Transal Republic of El Salvador
c/o Transal Corporation Corporation
2121 S.W.3rd. Ave. #800
</TABLE>
<PAGE> 65
BARCEL CORPORATION
Set forth below is information concerning the directors and officers of
Barcel Corporation. Neither corporation listed below has officers or directors.
Certain authorized employees of Lloyds TSB Bank & Trust (Bahamas) Limited may
bind the corporations.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
LloydTru Limited Nominee director and officer Bahamas
Bolam House
King and George Streets
Nassau, Bahamas
Equus Limited Nominee director and officer Bahamas
Bolam House
King and George Streets
Nassau, Bahamas
</TABLE>
<PAGE> 66
SCARSDALE COMPANY N.V., INC.
Set forth below is information regarding the directors and executive
officers of Scarsdale Company N.V. Inc.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Francisco A. Soler Director and President. Chairman of Republic of El Salvador
Calle La Mascota 221 International Bancorp of Miami, Inc., the
San Salvador, El Salvador holding company for International
Bancorporation of Miami, N.A. Mr.
Soler is a director of U.S. Can
Ricardo Poma Director. Managing Partner and Chief Republic of El Salvador
Calle Boulevard Constitucion Executive Officer of Grupo Poma, a
#169 family holding company involved in
Colonia Escalon automobile distribution, hotels, real
San Salvador, El Salvador estate development and manufacturing.
Mr. Poma is a director of U.S. Can.
</TABLE>
<PAGE> 67
WINDSOR INTERNATIONAL CORPORATION
Set forth below is information regarding the directors and executive
officers of Windsor International Corporation.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Francisco A. Soler Director and President. Chairman of Republic of El Salvador
Calle La Mascota 221 International Bancorpation of Miami,
San Salvador, El Salvador N.A., the holding company for The
International Bank of Miami, N.A. Mr.
Soler is a director of U.S. Can
Evelyne M. Soler Director and Secretary. Antique dealer. France
40 Chelsea Park Gardens
London SW3 6AB, England
Ricardo Poma Director and Treasurer. Managing Republic of El Salvador
Calle Boulevard Constitucion Partner and Chief Executive Officer of
#169 Grupo Poma, a family holding company
Colonia Escalon involved in automobile distribution,
San Salvador, El Salvador hotels, real estate development and
manufacturing. Mr. Poma is a director
of U.S. Can.
</TABLE>
<PAGE> 68
ATLAS WORLD CARRIERS S.A.
Set forth below is information regarding directors and executive officers
of Atlas World Carriers S.A.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Francisco A. Soler Director and President. Chairman of Republic of El Salvador
Calle La Mascota 221 International Bancorp of Miami, Inc., the
San Salvador, El Salvador holding company for The International
Bank of Miami, N.A. Mr. Soler is a
director of U.S. Can
Ana Vilma de Soler Director and Secretary. Diplomat for the Republic of El Salvador
Calle La Mascota 221 country of El Salvador. Also, Director
San Salvador, El Salvador of La Fabril de Aceites, S.A.
Miguel A. Duenas Director and Treasurer. Private investor Republic of El Salvador
Calle La Mascota 221
San Salvador, El Salvador
</TABLE>
<PAGE> 69
THE WORLD FINANCIAL CORPORATION
Set forth below is information regarding the directors and executive
officers of The World Financial Corporation.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Francisco A. Soler Director and President. Chairman of Republic of El Salvador
Calle La Mascota 221 International Bancorp of Miami, Inc., the
San Salvador, El Salvador holding company for The International
Bank of Miami, N.A. Mr. Soler is a
director of U.S. Can
----------------------------------------------------------------------------------------------------------------------------
Rafael Angel Aguilar Director and Treasurer. Lawyer with the Republic of El Salvador
c/o Simpson, Thatcher & firm of Simpson, Thatcher & Bartlett,
Bartlett New York, NY
425 Lexington Avenue
New York, NY 10017
---------------------------------------------------------------------------------------------------------------------------
Mercedes Leitzelar Director and Secretary. Retired. Former Republic of El Salvador
Calle La Mascota 221 Administrative Manager of La Fabril De
San Salvador, El Salvador Aceites S.A. de C.V.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
61
<PAGE> 70
SALOMON SMITH BARNEY INC.
Set forth below is information concerning the directors and executive
officers of Salomon Smith Barney Inc. The principal place of business of Salomon
Smith Barney Inc. and, unless otherwise indicated, the business address of each
person identified below is c/o Salomon Smith Barney Inc. 333 Greenwich Street,
New York, NY 10013.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Michael A. Carpenter Chairman of the Board and Chief United Kingdom
Executive Officer
---------------------------------------------------------------------------------------------------------------------------
Deryck C. Maughan Director United Kingdom
---------------------------------------------------------------------------------------------------------------------------
Robert Druskin Chief Administrative Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Joan Guggenheimer General Counsel and Secretary U.S.A.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
62
<PAGE> 71
SALOMON BROTHERS HOLDING COMPANY INC.
Set forth below is information concerning the directors and executive
officers of Salomon Smith Barney Holding Company Inc. The principal place of
business of Salomon Brothers Holding Company Inc. and, unless otherwise
indicated, the business address of each person identified below is c/o Salomon
Smith Barney Inc., 333 Greenwich Street, New York, NY 10013.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Michael A. Carpenter Chairman of the Board and Chief United Kingdom
Executive Officer
---------------------------------------------------------------------------------------------------------------------------
Deryck C. Maughan Director United Kingdom
---------------------------------------------------------------------------------------------------------------------------
Robert Druskin Chief Administrative Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
William Bozarth Chief Financial Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Joan Guggenheimer General Counsel and Secretary U.S.A.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
63
<PAGE> 72
SALOMON SMITH BARNEY HOLDINGS INC.
Set forth below is information concerning the directors and executive
officers of Salomon Smith Barney Holdings Inc. The principal place of business
of Salomon Smith Barney Holdings Inc. and, unless otherwise indicated, the
business address of each person identified below is c/o Salomon Smith Barney
Inc., 333 Greenwich Street, New York, NY 10013.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Michael A. Carpenter Chairman of the Board and Chief United Kingdom
Executive Officer
---------------------------------------------------------------------------------------------------------------------------
Deryck C. Maughan Director United Kingdom
---------------------------------------------------------------------------------------------------------------------------
Robert Druskin Chief Administrative Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
William Bozarth Chief Financial Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Joan Guggenheimer General Counsel and Secretary U.S.A.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
64
<PAGE> 73
CITIGROUP INC.
Set forth below is information concerning the directors and executive
officers of Citigroup Inc. The principal place of business of Citigroup Inc.
and, unless otherwise indicated, the business address of each person identified
below is c/o Citigroup Inc., 153 East 53rd Street, New York, NY 10043.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
C. Michael Armstrong Director. Chairman and Chief Executive U.S.A.
Officer of AT&T Corp.
---------------------------------------------------------------------------------------------------------------------------
Alain J.P. Belda Director. President and Chief Executive Brazil
Officer of Alcoa Inc.
---------------------------------------------------------------------------------------------------------------------------
Kenneth J. Bialkin Director. Partner - Skadden, Arps, Slate, U.S.A.
Meagher & Flom.
---------------------------------------------------------------------------------------------------------------------------
Kenneth T. Derr Director. Retired Chairman of the Board U.S.A.
of Chevron Corporation.
---------------------------------------------------------------------------------------------------------------------------
John M. Deutch Director. Institute Professor at U.S.A.
Massachusetts Institute of Technology.
---------------------------------------------------------------------------------------------------------------------------
Ann Dibble Jordan Director. Consultant. U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Reuben Mark Director. Chairman and Chief Executive U.S.A.
Officer of Colgate-Palmolive Company.
---------------------------------------------------------------------------------------------------------------------------
Michael T. Masin Director. President and Vice Chairman U.S.A.
and Director of Verizon Corporation.
---------------------------------------------------------------------------------------------------------------------------
Dudly C. Mecum Director. Managing Director of U.S.A.
Capricorn Holdings, LLC
---------------------------------------------------------------------------------------------------------------------------
Donald D. Parsons Director. President of Time Warner Inc. U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Andrall E. Pearson Director. Chairman and Chief Executive U.S.A.
Officer of Tricon Global Restaurants,
Inc.
---------------------------------------------------------------------------------------------------------------------------
Robert E. Rubin Director. Member of the Office of the U.S.A.
Chairman and Chairman of the
Executive Committee of Citigroup
---------------------------------------------------------------------------------------------------------------------------
Franklin A. Thomas Director. Former President of the Ford U.S.A.
Foundation.
---------------------------------------------------------------------------------------------------------------------------
Sanford I. Weill Director. Chairman and Chief U.S.A.
Executive Officer of Citigroup.
---------------------------------------------------------------------------------------------------------------------------
Edgar S. Woolard Director. Former Chairman and Chief U.S.A.
Executive Officer of E.I. du Pont de
Nemours Company.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
65
<PAGE> 74
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Arthur Zankel Director. General Partner of Zankel U.S.A.
Capital Advisors LLC
---------------------------------------------------------------------------------------------------------------------------
Gerald R. Ford Honorary Director U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Winfried F. W. Bischoff Chairman Citigroup Europe U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Michael A. Carpenter Co-Chief Executive Officer, Global U.S.A.
Corporate and Investment Bank
---------------------------------------------------------------------------------------------------------------------------
Paul J. Collins Vice Chairman U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Michael D'AMbrose Senior Human Resources Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Jay S. Fishman Chief Executive Officer of Travelers U.S.A.
Property Casualty Corp.
---------------------------------------------------------------------------------------------------------------------------
Michael B.G. Froman Chief of Staff and Director, Strategic U.S.A.
Development
---------------------------------------------------------------------------------------------------------------------------
Edward D. Horowitz Chief Executive of e-Citi U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Thomas W. Jones Chairman and Chief Executive Officer, U.S.A.
Global Investment and Private Banking
Group
---------------------------------------------------------------------------------------------------------------------------
Robert I. Lipp Chairman and Chief Executive Officer, U.S.A.
Global Consumer Business
---------------------------------------------------------------------------------------------------------------------------
Marjorie Magner Head of Citibanking and Primerica U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Deryck C. Maughan Vice Chairman United Kingdom
---------------------------------------------------------------------------------------------------------------------------
Victor J. Menezes Co-Chief Executive Officer, Global U.S.A.
Corporate Investment Bank
---------------------------------------------------------------------------------------------------------------------------
Charles O. Prince III General Counsel and Corporate U.S.A.
Secretary
---------------------------------------------------------------------------------------------------------------------------
William R. Rhodes Vice Chairman U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Petros Sabatacakis Senior Risk Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Todd S. Thomson Chief Executive Officer, Citibank U.S.A.
Private Bank
---------------------------------------------------------------------------------------------------------------------------
Thomas Trainer Chief Information Officer U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Marc P. Weill Chief Executive of Citigroup U.S.A.
Investments, Inc.
---------------------------------------------------------------------------------------------------------------------------
Robert B. Willumstad head of Global Consumer Lending U.S.A.
---------------------------------------------------------------------------------------------------------------------------
Barbara A. Yastine Chief Auditor U.S.A.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
66
<PAGE> 75
LENNOXVILLE INVESTMENTS, INC.
Set forth below is information concerning the director(s) and executive
officer(s) of Lennoxville Investments, Inc.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Carlos J. Mejia Director and President. Private investor. Columbia
26 Mallord Street
London SW3 6DU England
---------------------------------------------------------------------------------------------------------------------------
Virginia A. Mejia Director, Secretary and Treasurer. United Kingdom
26 Mallord Street Private investor.
London SW3 6DU England
---------------------------------------------------------------------------------------------------------------------------
Pedro Mejia Director. Private investor. Columbia
Apartado Aereo 4807
Cali, Columbia
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
67
<PAGE> 76
EMPIRE INVESTMENTS, S.A.
The directors and officers of Empire Investments, S.A. are First Executive
Directors, Inc. and First Company Directors, Inc. and the address of each is
Boston Towers, 15th Floor, Via Espana #112, Panama. Both companies are organized
under the laws of Panama. Set forth below is information concerning the
directors and executive officers of both First Executive Directors, Inc. and
First Company Directors, Inc. Unless indicated otherwise, each person listed has
the same position with both companies and the business address is that listed
above for both companies.
<TABLE>
<CAPTION>
Name and Business Address Occupation or Principal Business Citizenship
------------------------- -------------------------------- -----------
<S> <C> <C>
Marcela de Lombardo Director and President. Panama
---------------------------------------------------------------------------------------------------------------------------
Sandra Vasquez Director and Vice President. Panama
---------------------------------------------------------------------------------------------------------------------------
Nahir de Garrido Director and Treasurer. Panama
---------------------------------------------------------------------------------------------------------------------------
Elida de Cohen Director and Secretary. Panama
---------------------------------------------------------------------------------------------------------------------------
Marlee Martiz-Lee Director and Assistant Secretary. Panama
---------------------------------------------------------------------------------------------------------------------------
Angie Yee Director and Assistant Secretary. Panama
---------------------------------------------------------------------------------------------------------------------------
Andromaji Tzanetatos Director and Assistant Secretary. Panama
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
68
