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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
STOLT COMEX SEAWAY SA
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(Name of Issuer)
Common Stock, $2.00 par value
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(Title of Class of Securities)
L8873E103
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(CUSIP NUMBER)
CAMBRIDGE INVESTMENTS LIMITED
600 Montgomery Street
27th Floor
San Francisco, California 94111
Tel. No.: (415) 627-3017
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Michael G. Tannenbaum, Esq.
Newman Tannenbaum Helpern Syracuse & Hirschtritt LLP
900 Third Avenue - 13th Floor
New York, New York 10022
(212) 508-6700
July 3, 1997
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4) check the following box [ ]
Check the following box if a fee is being paid with the statement [ ]
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, as amended ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act.
Page 1 of 8 Pages
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CUSIP No. L8873E103 13-D
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1 NAME OF REPORTING PERSONS
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cambridge Investments Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.A.
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NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 1,175,700 shares of Common Stock (See Item 5)
BENEFICIALLY | |
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING | 9 | SOLE DISPOSITIVE POWER
PERSON WITH | | 1,175,700 shares of Common Stock (See Item 5)
| 10 | SHARED DISPOSITIVE POWER
| | 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,175,700 shares of Common Stock (See Item 5.)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.9% of Common Stock (See Item 5)
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 8 Pages
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SCHEDULE 13D
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This Schedule 13D is being filed on behalf of Cambridge
Investments Limited, a California corporation, registered as an investment
advisor in the State of California, regarding shares of Stolt Comex Seaway SA
acquired on behalf of certain of its clients.
Item 1. Security and Issuer
-------------------
Securities acquired: Common Stock, $2.00 par value
Issuer: Stolt Comex Seaway SA
c/o Stolt Comex Seaway M.S. Ltd.
Bucksburn House
Howes Road
Bucksburn, Aberdeen AB21 9RQ, Scotland
Tel. No. (44) 1224-718200
Item 2. Identity and Background
-----------------------
There is no change in this section.
Item 3. Source and Amount of Funds
--------------------------
Cambridge, through Cambridge Energy Fund International Ltd.
("CEF"), Cambridge Energy, L.P. ("CELP"), Cambridge Oil & Gas, L.P. ("COG"),
Cambridge Oil & Gas International, Ltd. ("COG Int'l"), Palamundo, LDC
("Palamundo") and Tozzi Family Trust #4 ("Trust #4") (collectively, the
"Funds"), has invested approximately $23,296,364.68 in Common Stock of the
Issuer as described in Item 5 below. CEF, CELP, COG, COG Int'l, Palamundo and
Trust #4 have invested approximately $9,290,577.12, $9,602,008.78,
$3,378,701.51, $268,184.86, $681,512.36, and $29,755.05, respectively. The
source of these funds was the respective working capital of each of the Funds.
Item 4. Purpose of the Transaction
--------------------------
There is no change in this section.
Item 5. Interest in Securities of the Issuer
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(a) As of July 3, 1997, Cambridge is the beneficial owner of
1,175,700 shares of Common Stock, or 6.9% shares of the shares outstanding. Of
the 1,175,700 shares of Common Stock described above, (i) 467,461 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of CEF; (ii) 480,050 are deemed beneficially owned by
Cambridge in its capacity as investment advisor
Page 3 of 8 Pages
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for the institutional account of CELP; (iii) 186,600 are deemed beneficially
owned by Cambridge in its capacity as investment advisor for the institutional
account of COG; (iv) 14,170 are deemed beneficially owned by Cambridge in its
capacity as investment advisor for the institutional account of COG Int'l; (v)
25,919 are deemed beneficially owned by Cambridge in its capacity as investment
advisor for the institutional account of Palamundo; and (vi) 1,500 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of Trust #4.
The number of shares beneficially owned by Cambridge, and the
percentage of outstanding shares represented thereby, have been computed in
accordance with Rule 13d-3 under the Exchange Act. The percentage of ownership
of Cambridge on July 3, 1997 is based on an aggregate of 17,011,250 shares of
Common Stock outstanding after completion of the Issuer's recent public offering
as reported in its Prospectus dated March 6, 1997.
(b) There is no change in this subsection.
(c) The transactions in the Issuer's securities by Cambridge
since the last filing are listed as Annex A attached hereto and made apart
hereof.
(d) There is no change in this subsection.
(e) There is no change in this subsection.
Item 6. Contracts, Arrangement, Understandings or Relationships with
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Respect to Securities of the Issuer
-----------------------------------
There is no change in this section.
Item 7. Material to be Filed as Exhibits
--------------------------------
There is change in this section.
Page 4 of 8 Pages
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<TABLE>
<CAPTION>
ANNEX A
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DATE TRANS SHARES PRICE ACCOUNT
(A/D) ($)
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<S> <C> <C> <C> <C>
6/16/97 A 36,000 24.500 CEF
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6/16/97 A 41,400 24.500 CELP
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6/16/97 A 10,800 24.500 COG
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6/16/97 A 900 24.500 COG INT'L
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6/16/97 A 900 24.500 Palamundo
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6/17/97 A 4,500 24.250 CEF
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6/17/97 A 5,800 24.207 CEF
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6/17/97 A 5,300 24.250 CELP
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6/17/97 A 6,500 24.207 CELP
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6/17/97 A 1,800 24.207 COG
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6/17/97 A 100 24.250 COG INT'L
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6/17/97 A 200 24.207 COG INT'L
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6/17/97 A 100 24.250 Palamundo
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6/17/97 A 200 24.207 Palamundo
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6/18/97 D 2,500 24.000 Trust #2*
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6/30/97 A 2,000 24.750 Palamundo
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6/30/97 A 7,000 25.054 Palamundo
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6/30/97 A 1,000 24.750 Palamundo
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7/1/97 A 2,880 29.125 CEF
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7/1/97 A 16,450 29.284 CEF
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7/1/97 A 3,000 29.125 CELP
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7/1/97 A 17,500 29.284 CELP
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7/1/97 A 120 29.125 COG INT'L
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7/1/97 A 350 29.284 COG INT'L
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7/1/97 A 7,600 29.125 Palamundo
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7/1/97 A 700 29.284 Palamundo
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7/2/97 A 11,750 31.615 CEF
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7/2/97 A 12,500 31.615 CELP
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7/2/97 A 250 31.615 COG INT'l
</TABLE>
Page 5 of 8 Pages
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<TABLE>
<CAPTION>
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<S> <C> <C> <C> <C>
7/2/97 A 500 31.615 Palamundo
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7/3/97 D 500 31.615 Palamundo
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7/3/97 D 1,200 33.000 Palamundo
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</TABLE>
* Tozzi Family Trust # 2
Page 6 of 8 Pages
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Signatures
- ----------
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: July 11, 1997
CAMBRIDGE INVESTMENTS LIMITED
By: /s/ John R. Tozzi
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John R. Tozzi,
President
Page 7 of 8 Pages
