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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 4 for Barbara Sinclair;
Amendment No. 3 for James Sinclair)
Under the Securities Exchange Act of 1934
SUTTON RESOURCES, LTD.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
869474106
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(CUSIP Number)
James Sinclair
Route 41, Amenia Road
Sharon, CT 06069
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(860) 364-0164
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 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 [ ].
Page 1 of 6 pages
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CUSIP NO. 869474106 Page 2 of 6 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
Barbara Sinclair
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7 SOLE VOTING POWER
-0-
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1,541,742
REPORTING
PERSON ----------------------------------------------------
WITH
9 SOLE DISPOSITIVE POWER
-0-
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10 SHARED DISPOSITIVE POWER
1,541,742
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,544,242 (1)
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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)
12.1%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes 2,500 shares underlying warrants exercisable within 60 days.
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CUSIP NO. 869474106 Page 3 of 6 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
James Sinclair
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7 SOLE VOTING POWER
-0-
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1,541,742
REPORTING
PERSON ----------------------------------------------------
WITH
9 SOLE DISPOSITIVE POWER
-0-
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10 SHARED DISPOSITIVE POWER
1,541,742
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,704,242(1)
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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)
13.2%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes 160,000 shares underlying stock options exercisable within 60
days, and 1,544,242 shares beneficially owned by Barbara Sinclair, in which
Mr. Sinclair disclaims economic interest.
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CUSIP NO. 869474106 Page 4 of 6 pages
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AMENDMENT TO
STATEMENT FOR SCHEDULE 13D
This statement amends Items 2, 4 and 5 of the Statement to the
Schedule 13D filed with the Commission on January 25, 1996, as subsequently
amended, on behalf of Barbara Sinclair and James Sinclair (the "Reporting
Persons") with respect to the common stock of Sutton Resources, Ltd. (the
"Issuer").
Item 2. Identity and Background.
By letter dated February 26, 1997, Mr. Sinclair resigned from
the Issuer's board of directors.
Item 4. Purpose of the Transaction.
The Reporting Persons have no present plan or proposal which
would relate to or result in any of the matters set forth in subparagraphs (a) -
(j) of Item 4 of Schedule 13D. They intend to review their investment in the
Issuer on a continuing basis and, depending on various factors including,
without limitation, the Issuer's business affairs and financial position, the
price levels of the Common Stock, conditions in the securities markets and
general economic and industry conditions, may in the future take such actions
with respect to his or her investment in the Issuer as he or she deems
appropriate.
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of shares of Common Stock
reported owned by each person named herein is based upon 12,712,815 shares
outstanding, as reported in the Isuer's most recently available Form 6-K.
As of the close of business on February 28, 1997:
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CUSIP NO. 869474106 Page 5 of 6 pages
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(i) Mrs. Sinclair beneficially owns 1,544,242 Shares (12.1% of
the Issuer's Outstanding Shares), 2,500 of which underlie warrants exercisable
within 60 days.
(ii) Mr. Sinclair beneficially owns 1,704,242 Shares (13.2%),
which include the Shares reported as beneficially owned by Mrs. Sinclair and
160,000 shares underlying stock options that are exercisable within 60 days. Mr.
Sinclair expressly disclaims economic interest in any of the Shares beneficially
owned by Mrs. Sinclair.
(iii) In the aggregate, the Reporting Persons beneficially own
1,704,242 Shares (13.2%).
(b) Mr. and Mrs. Sinclair share voting and dispositive power
with respect to the Shares reported in (a)(i).
(c)(i) Since the date of the last amendment to the Reporting
Persons' Schedule 13D, Mrs. Sinclair has engaged in the following sales of the
Issuer's common stock:
No. of
Date Shares Price per Share
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January 22, 1997 5,000 11.00
February 10, 1997 100 15.50
February 11, 1997 5,000 16.63
February 11, 1997 700 15.45
February 12, 1997 3,500 15.50
February 13, 1997 9,000 16.28
February 13, 1997 3,000 16.10
February 13, 1997 1,500 15.85
February 13, 1997 1,000 16.28
February 18, 1997 7,000 16.72
February 19, 1997 3,500 17.13
February 20, 1997 3,000 18.25
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CUSIP NO. 869474106 Page 6 of 6 pages
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No. of
Date Shares Price per Share
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February 20, 1997 13,000 18.00
February 20, 1997 19,800 18.61
February 26, 1997 2,500 18.50
February 26, 1997 4,100 18.95
February 26, 1997 9,500 19.37
February 27, 1997 2,500 18.50
February 28, 1997 25,000 19.70
SIGNATURES
After reasonable inquiry and to the best of
each Reporting Person's belief, each of the undersigned certifies that the
information set forth in this statement is true, complete, and correct.
Dated: March 5, 1997
/s/ James Sinclair
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Barbara Sinclair,
by James Sinclair
/s/ James Sinclair
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James Sinclair
