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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
GT Bicycles, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock
- -------------------------------------------------------------------------------
(Title of Class of Securities)
36229H101
------------------
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in 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 1 of 7 pages
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- ----------------------- -----------------------
CUSIP NO. 36229H101 13G Page 2 of 7 Pages
- ----------------------- -----------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PPM America, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
0
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
Not Applicable
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
HC (See Exhibit A on Page 7 hereof)
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a) Name of Issuer:
GT Bicycles, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
2001 E. Dyer Rd.
Santa Ana, CA 92705
Item 2(a) Name of Person Filing:
PPM America, Inc.
Item 2(b) Address of Principal Business Office:
225 West Wacker Drive, Suite 1200
Chicago, Illinois 60606
Item 2(c) Citizenship:
Delaware
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
36229H101
Item 3 Type of Person:
(g) PPM America, Inc. is a parent holding company.
Page 3 of 7 pages
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Item 4 Ownership (at December 31, 1998):
(a) Amount owned "beneficially" within the meaning of rule
13d-3:
0 shares
(b) Percent of class:
0%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
-0-
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of: -0-
(iv) shared power to dispose or to direct
disposition of: -0-
Item 5 Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
equity securities, check the following (x).
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
See Exhibit A
Item 9 Notice of Dissolution of Group:
Not Applicable
Page 4 of 7 pages
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Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purpose or effect.
Page 5 of 7 pages
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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.
Date: February 12, 1999
The undersigned corporation, on the date above written, agrees
and consents to the joint filing on its behalf of this Schedule
13G in connection with its beneficial ownership of the security
reported herein.
PPM AMERICA, INC.
By: /s/ Paul Carter
--------------------------
Paul Carter
Vice President - Compliance
Page 6 of 7 pages
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EXHIBIT A
---------
Identification and Classification of the Members of the Group.
By no-action relief granted on July 5, 1991, the SEC generally stated it
would not recommend enforcement action if Prudential Corporation plc together
with certain of its subsidiaries collectively reported beneficial ownership of
more than 5% of a class of equity security subject to Section 13(d) of the
Securities Exchange Act of 1934 on Schedule 13G rather than Schedule 13D.
Therefore, PPM America, Inc., a subsidiary of Prudential Corporation plc, is
making this filing on behalf of certain of Prudential Corporation plc's
subsidiaries. Jackson National Life Insurance Company is a U.S. insurance
company which is a subsidiary of Prudential Corporation plc and for which PPM
America, Inc. serves as investment adviser.
Page 7 of 7 pages
