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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Halis Jeffrey S
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(Last) (First) (Middle)
500 Park Avenue, 5th Floor
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(Street)
New York, New York 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
OCTEL CORP. (OTL)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
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4. Statement for Month/Year
December, 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X*] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Persion
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 12/18/98 S 17,800* D $14.70 I* By Partner-
ships and
Corporations*
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Common Stock 12/21/98 S 11,100* D $14.31 I* By Partner-
ships and
Corporations*
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Common Stock 12/22/98 S 50,900* D $14.32 I* By Partner-
ships and
Corporations*
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Common Stock 12/23/98 S 52,100* D $13.95 I* By Partner-
ships and
Corporations*
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Common Stock 1,622,700* I* By Partner-
ships and
Corporations*
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses: *746,400 of the shares reported herein are owned by
Tyndall Partners, L.P., a Delaware limited partnership ("Tyndall"). 437,700 of
the shares reported herein are owned by Tyndall Institutional Partners, L.P., a
Delaware limited partnership ("Tyndall Institutional"). 99,700 of the shares
reported herein are owned by Madison Avenue Partners, L.P., a Delaware limited
partnership ("Madison"). 338,900 of the shares reported herein are owned by Halo
International, Ltd., a company organized under the laws of the Cayman Islands
("Halo"). Jeffrey S. Halis possesses sole voting and investment control over all
securities owned by Tyndall, Tyndall Institutional, Madison and Halo,
respectively. Each of Tyndall, Tyndall Institutional, Madison and Halo
beneficially owns less than 10% of the Issuer's outstanding common stock.
Jeffrey S. Halis' interest in the shares set forth herein is limited to the
extent of his pecuniary interest, if any, in Tyndall, Tyndall Institutional,
Madison and Halo, respectively.
/s/ Jeffrey s. Halis January 8, 1998
________________________________ Date
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Potential persons who are to respond to the collection of information
contained in this form are not required unless the form displays a
currently valid OMB Number
