SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
(Amendment No. _____)*
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Mothers Work, Inc.
------------------
(Name of Issuer)
Common Stock
-----------------------------
(Title of Class of Securities)
619 903 10 7
--------------
(CUSIP Number)
Christopher W. Morgan, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Suite 1820, North Tower
Royal Bank Plaza
Toronto, Ontario, Canada M5J 2J4
----------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 28, 1998
------------------------------------------------------
(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 subsequent
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).
CUSIP NO. 619 903 10 7 13D
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(1) Name of Reporting Persons. IRS Identification Nos. of Above Persons
(entities only)
Oakmont Capital Inc.
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (X)
(b) ( )
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e). ( )
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(6) Citizenship or Place of Organization
Ontario, Canada
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(7) Sole Voting Power
136,300
-----------------------------------------
Number of (8) Shared Voting Power
Shares Beneficially
Owned 0
by Each -----------------------------------------
Reporting (9) Sole Dispositive Power
Person With
136,300
-----------------------------------------
(10) Shared Dispositive Power
0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
222,400 (See Item 5 herein)
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(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) ( )
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(13) Percent of Class Represented by Amount in Row (11)
6.2% (See Item 5 herein)
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(14) Type of Reporting Person (See Instructions)
CO
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CUSIP NO. 619 903 10 7 13D
--------------------------------------------------------------------------
(1) Name of Reporting Persons. IRS Identification Nos. of Above Persons
(entities only)
E.J.K. Real Estate Services Limited
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (X)
(b) ( )
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
WC
--------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e). ( )
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(6) Citizenship or Place of Organization
Ontario, Canada
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(7) Sole Voting Power
38,000
-------------------------------------------
Number of (8) Shared Voting Power
Shares Beneficially
Owned 136,300
by Each -------------------------------------------
Reporting (9) Sole Dispositive Power
Person With
38,000
-------------------------------------------
(10) Shared Dispositive Power
136,300
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
222,400 (See Item 5 herein)
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(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)
6.2% (See Item 5 herein)
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(14) Type of Reporting Person (See Instructions)
CO
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CUSIP NO. 619 903 10 7 13D
- ---------------------------------------------------------------------------
(1) Name of Reporting Persons. IRS Identification Nos. of Above Persons
(entities only)
1272562 Ontario Inc.
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (X)
(b) ( )
--------------------------------------------------------------------------
(3) SEC Use Only
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(4) Source of Funds (See Instructions)
WC
--------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e). ( )
--------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Ontario, Canada
--------------------------------------------------------------------------
(7) Sole Voting Power
0
---------------------------------------------
Number of (8) Shared Voting Power
Shares Beneficially
Owned 136,300
by Each ---------------------------------------------
Reporting (9) Sole Dispositive Power
Person With
0
---------------------------------------------
(10) Shared Dispositive Power
136,300
- ---------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
222,400 (See Item 5 herein)
- ---------------------------------------------------------------------------
(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)
6.2% (See Item 5 herein)
- ---------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions)
CO
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CUSIP NO. 619 903 10 7 13D
- ---------------------------------------------------------------------------
(1) Name of Reporting Persons. IRS Identification Nos. of Above Persons
(entities only)
Terence M. Kavanagh
- ---------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (X)
(b) ( )
- ---------------------------------------------------------------------------
(3) SEC Use Only
- ---------------------------------------------------------------------------
(4) Source of Funds (See Instructions)
PF
- ---------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e). ( )
- ---------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Canada
- ---------------------------------------------------------------------------
(7) Sole Voting Power
3,000
---------------------------------------------
Number of (8) Shared Voting Power
Shares Beneficially
Owned 177,300
by Each ---------------------------------------------
Reporting (9) Sole Dispositive Power
Person With
3,000
---------------------------------------------
(10) Shared Dispositive Power
177,300
- ---------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
222,400 (See Item 5 herein)
- ---------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) (X)
(See Item 5 herein)
- ---------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2% (See Item 5 herein)
- ---------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions)
IN
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CUSIP NO. 619 903 10 7 13D
- ---------------------------------------------------------------------------
(1) Name of Reporting Persons. IRS Identification Nos. of Above Persons
(entities only)
Gregory P. Hannon
- ---------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (X)
(b) ( )
- ---------------------------------------------------------------------------
(3) SEC Use Only
- ---------------------------------------------------------------------------
(4) Source of Funds (See Instructions)
PF
- ---------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e). ( )
- ---------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Canada
- ---------------------------------------------------------------------------
(7) Sole Voting Power
41,100
---------------------------------------------
Number of (8) Shared Voting Power
Shares Beneficially
Owned 137,300
by Each ---------------------------------------------
Reporting (9) Sole Dispositive Power
Person With
41,100
---------------------------------------------
(10) Shared Dispositive Power
137,300
- ---------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
222,400
- ---------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) (X)
(See Item 5 herein)
- ---------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2%
- ---------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions)
IN
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ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares ("Shares") of common
stock, par value $0.01 per share, of Mothers Work, Inc. (the "Issuer").
The address of the principal executive offices of the Issuer is 456 North
Fifth Street, Philadelphia, Pennsylvania 19123.
ITEM 2. IDENTITY AND BACKGROUND
The persons filing this statement are Oakmont Capital Inc., an
Ontario corporation ("Oakmont"), E.J.K. Real Estate Services Limited, an
Ontario corporation ("EJK"), 1272562 Ontario Inc., an Ontario corporation
("1272562"), and Gregory P. Hannon and Terence M. Kavanagh, each of whom
are citizens of Canada (collectively, the "Reporting Persons"). The
principal business address and the address of the principal office of each
of the Reporting Persons is 112 St. Clair Avenue West, Suite 504, Toronto,
Ontario, Canada M4V 2Y3.
Oakmont, EJK and 1272562 are primarily engaged in the business of
investing in securities. Each of EJK and 1272562 owns 50% of the
outstanding voting stock of Oakmont. Terence M. Kavanagh owns all of the
voting stock of EJK. Gregory P. Hannon owns all of the capital stock of
1272562. Terence M. Kavanagh's present principal occupation or employment
is acting as President and a Director of Oakmont. Gregory P. Hannon's
present principal occupation or employment is acting as Vice President and
Treasurer and a Director of Oakmont.
The name, citizenship, present principal occupation or employment
and business address of each director and executive officer of Oakmont, EJK
and 1272562 is set forth in Schedule A attached hereto.
Neither Oakmont, EJK, 1272562, Mr. Kavanagh, Mr. Hannon, nor any
executive officer or director of Oakmont, EJK or 1272562 has, during the
last five years, (a) been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors), or (b) been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgement,
decree, or final order enjoining future violations of, or prohibiting, or
mandating activities subject to, Federal or State securities laws or a
finding of any violation with respect to such laws.
Oakmont, EJK, 1272562, Mr. Kavanagh and Mr. Hannon may be
regarded as a group (the "Group") for purposes of Rule 13d-5 under the
Securities Exchange Act of 1934.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate purchase price of the 222,400 Shares purchased by
the Reporting Persons was $2,167,898 (including commissions). The source
of funding for the purchase of these Shares was general working capital of
each of Oakmont, EJK and 1272562 and personal funds of each of Messrs
Kavanagh and Hannon.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons have acquired the Shares of the Issuer for
investment purposes. In that connection, the Reporting Persons may have
their representative meet with management, directors or other shareholders
of the Issuer from time to discuss the affairs of the Issuer. The
Reporting Persons intend to monitor the business and affairs of the Issuer,
including its financial performance, and depending upon these factors,
market conditions and other factors, the Reporting Persons may acquire
additional shares of the Issuer as they deem appropriate, in open market
purchases, privately negotiated transactions or otherwise. Alternatively,
the Reporting Persons may dispose of some or all of their Shares in the
open market, in privately negotiated transactions or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the close of business on October 8, 1998, the
Reporting Persons may be deemed to beneficially own, in the aggregate,
222,400 Shares, representing approximately 6.2% of the Issuer's outstanding
Shares (based upon the 3,597,997 Shares stated to be outstanding as of
August 3, 1998 by the Issuer in its Quarterly Report on Form 10-Q, filed
with the Securities and Exchange Commission on August 10, 1998).
(b) Oakmont has sole voting power and sole dispositive power
with respect to the 136,300 Shares that it owns directly. Oakmont may be
deemed to be a beneficial owner of the balance of the 222,400 Shares
beneficially owned by the Group, by virtue of its participation in the
Group.
EJK has sole voting power and sole dispositive power with
respect to the 38,000 Shares that it owns directly. EJK has shared voting
power and shared dispositive power with respect to the 136,300 Shares owned
directly by Oakmont, by virtue of EJK's ownership of 50% of the outstanding
voting stock of Oakmont and its right to nominate one of the two members of
the Board of Directors of Oakmont. EJK may be deemed to be a beneficial
owner of the balance of the 222,400 Shares beneficially owned by the Group,
by virtue of its participation in the Group.
1272562 has shared voting power and shared dispositive power
with respect to the 136,300 Shares owned directly by Oakmont, by virtue of
its ownership of 50% of the outstanding voting stock of Oakmont and its
right to nominate one of the two members of the Board of Directors of
Oakmont. 1272562 may be deemed to be a beneficial owner of the balance of
the 222,400 Shares beneficially owned by the Group, by virtue of its
participation in the Group.
Mr. Kavanagh has sole voting power and sole dispositive
power with respect to 3,000 Shares owned through a self-directed Retirement
Savings Plan. Mr. Kavanagh has shared voting power and shared dispositive
power with respect to the following Shares:
(i) the 38,000 Shares owned directly by EJK, by virtue of
Mr. Kavanagh's ownership of all of the outstanding
voting stock of EJK;
(ii) 3,000 Shares owned directly by the Estate of Edwin J.
Kavanagh, of which Mr. Kavanagh is one of three
trustees; and
(iii) the 136,300 Shares owned directly by Oakmont, by
virtue of Mr. Kavanagh's ownership of all the
outstanding voting stock of EJK, and EJK's
ownership of 50% of the outstanding voting stock
of Oakmont and its right to nominate one of the
two members of the Board of Directors of Oakmont.
Mr. Kavanagh may be deemed to be a beneficial owner of the balance of the
222,400 Shares beneficially owned by the Group, by virtue of his
participation in the Group.
Mr. Kavanagh's spouse owns directly 1,900 Shares and his mother
owns, directly and through a Retirement Income Fund, 17,300 Shares, as to
which Mr. Kavanagh disclaims beneficial ownership.
Mr. Hannon has sole voting power and sole dispositive power with
respect to the following Shares:
(i) 31,100 Shares owned directly by him or through a self-
directed Retirement Savings Plan; and
(ii) 10,000 Shares owned directly by two trusts for Mr.
Hannon's children; Mr. Hannon is the sole trustee of
each such trust.
Mr. Hannon has shared voting power and shared dispositive power with
respect to the following Shares:
(iii) 1,000 Shares owned directly by Gilter Inc., an
Ontario corporation of which all of the
outstanding voting stock is owned by the Gregory
Hannon Family Trust, of which Mr. Hannon is one of
two trustees; and
(iv) the 136,300 Shares owned directly by Oakmont, by virtue
of his ownership all of the capital stock of 1272562,
and 1272562's ownership of 50% of the outstanding
voting stock of Oakmont and its right to nominate one
of the two members of the Board of Directors of
Oakmont.
Mr. Hannon may be deemed to be a beneficial owner of the balance of the
222,400 Shares beneficially owned by the Group, by virtue of his
participation in the Group.
Mr. Hannon's spouse owns directly 13,500 Shares, as to which Mr.
Hannon disclaims beneficial ownership.
(c) The following table sets forth all transactions with respect
to Shares effected during the past 60 days by any of the Reporting Persons.
All such transactions were effected in the open market.
NO. OF SHARES PRICE
NAME DATE PURCHASED PER SHARE
---- ---- ------------- ---------
Oakmont 9/17/98 5,000 $ 8.500
Oakmont 9/18/98 1,000 $ 8.500
Oakmont 9/22/98 1,000 $ 8.750
Oakmont 9/22/98 4,000 $ 9.000
Oakmont 9/22/98 600 $ 9.000
Oakmont 9/22/98 3,400 $ 9.500
Oakmont 9/23/98 100 $ 10.000
Oakmont 9/23/98 200 $ 10.250
Oakmont 9/23/98 1,000 $ 10.500
Oakmont 9/24/98 500 $ 10.875
Oakmont 9/24/98 4,500 $ 10.875
Oakmont 9/24/98 1,600 $ 10.500
Oakmont 9/24/98 2,000 $ 10.500
Oakmont 9/25/98 200 $ 10.500
Oakmont 9/28/98 18,000 $ 10.949
Oakmont 9/28/98 9,000 $ 10.583
Oakmont 9/28/98 1,000 $ 10.875
Oakmont 9/29/98 9,600 $ 11.000
Oakmont 9/30/98 2,900 $ 10.750
Oakmont 10/02/98 15,000 $ 11.000
------
80,600
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
Except as described herein, none of the Reporting Persons nor any
person referred to in Schedule A attached hereto, has any contracts,
arrangements, understandings or relationships (legal or otherwise) with any
person with respect to any securities of the Issuer, including but not
limited to the transfer or voting of any of the securities, finder's fees,
joint ventures, loan or option arrangements, puts or calls, guarantees of
profits, division of profits or losses, or the giving or withholding of
proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Joint Filing Agreement of the Reporting Persons
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: October 8, 1998
OAKMONT CAPITAL INC.
By /s/ Terence M. Kavanagh
-------------------------------------
Terence M. Kavanagh
President
E.J.K. REAL ESTATE SERVICES LIMITED
By /s/ Terence M. Kavanagh
------------------------------------
Terence M. Kavanagh
President
1272562 ONTARIO INC.
By /s/ Gregory P. Hannon
------------------------------------
Gregory P. Hannon
President
/s/ Terence M. Kavanagh
--------------------------------------
Terence M. Kavanagh
/s/ Gregory P. Hannon
--------------------------------------
Gregory P. Hannon
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF THE REPORTING PERSONS
The following sets forth the name, position and principal
occupation of each director and executive officer of Oakmont, EJK and
1272562. Each such person is a citizen of Canada. The business address of
each such person is 112 St. Clair Avenue West, Suite 504, Toronto, Ontario,
Canada M4V 2Y3. To the best of the Reporting Persons' knowledge, except as
set forth in this Statement on Schedule 13D, none of the directors or
executive officers of the Reporting Person owns any Shares of the Issuer.
REPORTING PRINCIPAL
PERSON NAME POSITION OCCUPATION
--------- ---- -------- ----------
Oakmont Terence M. Kavanagh President; Director See Item 2 herein
Gregory P. Hannon Vice President; Director See Item 2 herein
EJK Terence M. Kavanagh President; Director See Item 2 herein
1272562 Gregory P. Hannon President; Director See Item 2 herein
EXHIBIT 1
FILING AGREEMENT
AMONG
OAKMONT CAPITAL INC.
AND
E.J.K. REAL ESTATE SERVICES LIMITED
AND
1272562 ONTARIO INC.
AND
TERENCE M. KAVANAGH
AND
GREGORY P. HANNON
In accordance with Rule 13d-1(f) under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing
on behalf of each of them of a statement on Schedule 13D (including
amendments thereto) with respect to the common stock, par value $0.01 per
share of Mothers Work, Inc., and further agree that this Joint Filing
Agreement be included as an Exhibit to such joint filings. In evidence
thereof, the undersigned, being duly authorized, have executed this Joint
Filing Agreement this 8th day of October, 1998.
OAKMONT CAPITAL INC.
By /s/ Terence M. Kavanagh
------------------------------------
Terence M. Kavanagh
President
E.J.K. REAL ESTATE SERVICES LIMITED
By /s/ Terence M. Kavanagh
-------------------------------------
Terence M. Kavanagh
President
1272562 ONTARIO INC.
By /s/ Gregory P. Hannon
-----------------------------------
Gregory P. Hannon
President
/s/ Terence M. Kavanagh
-------------------------------------
Terence M. Kavanagh
/s/ Gregory P. Hannon
-------------------------------------
Gregory P. Hannon
