UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)
PREMIER FARNELL PLC
(Name of Issuer)
American Depositary Receipts,
Evidencing American Depositary Shares,
Each Representing Two Ordinary Shares of 5 Pence Each
(Title of Class of Securities)
740-50U-206
(CUSIP Number)
John A. Marzulli, Jr.
Shearman & Sterling
599 Lexington Avenue
New York, NY 10022
Telephone: (212) 848-4000
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and
Communications)
June 6, 2000
(Date of Event which Requires Filing of this Statement)
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(Page 1 of 11 Pages)
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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 |_|.
(Page 2 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jack N. Mandel
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
------------------------------------
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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 United States
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Number of (7) Sole Voting Power 70,243
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 52,215,825
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 70,243
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 52,215,825
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 52,286,068
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) X
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(13) Percent of Class Represented by Amount in Row (11)
18.0%
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(14) Type of Reporting Person (See Instructions) IN
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(Page 3 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Joseph C. Mandel
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
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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 United States
---------------------------------
Number of (7) Sole Voting Power 130,953
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 53,369,299
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 130,953
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 55,794,750
-----------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 52,925,703
----------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) X
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(13) Percent of Class Represented by Amount in Row (11)
19.4%
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(14) Type of Reporting Person (See Instructions) IN
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(Page 4 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Morton L. Mandel
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
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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 United States
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Number of (7) Sole Voting Power 61,322
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 53,300,600
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 61,322
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 56,668,514
-----------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 56,729,837
----------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) X
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(13) Percent of Class Represented by Amount in Row (11)
19.4%
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(14) Type of Reporting Person (See Instructions) IN
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(Page 5 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jack N. Mandel Revocable Trust
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
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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 Ohio
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Number of (7) Sole Voting Power 0
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 12,461,107
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 0
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 12,461,107
-----------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 12,461,107
----------
(12) Check 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)
4.5%
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(14) Type of Reporting Person (See Instructions) OO
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(Page 6 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Joseph C. Mandel Revocable Trust
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
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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 Ohio
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Number of (7) Sole Voting Power 0
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 9,156,531
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 0
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 9,156,531
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 9,156,531
----------
(12) Check 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)
3.3%
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(14) Type of Reporting Person (See Instructions) OO
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(Page 7 of 11 Pages)
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CUSIP No. 740-50U-206 SCHEDULE 13D
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Morton L. Mandel Revocable Trust
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(2) Check the Appropriate Box if a Member of Group (See Instructions)
|_| (a)
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X (b)
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(3) SEC Use Only
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(4) Sources of Funds (See Instructions) OO
------------------------------------
-----------------------------------------------------------------------
(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 Ohio
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Number of (7) Sole Voting Power 0
Shares ---------------------------------
Beneficially -----------------------------------------------------
Owned by (8) Shared Voting Power 14,127,731
Each ---------------------------------
Reporting -----------------------------------------------------
Person (9) Sole Dispositive Power 0
With ------------------------------
---- -----------------------------------------------------
(10) Shared Dispositive Power 14,127,731
-----------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 14,127,731
----------
(12) Check 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)
5.1%
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(14) Type of Reporting Person (See Instructions) OO
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(Page 8 of 11 Pages)
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CUSIP NO. 740-50U-206 SCHEDULE 13D
This Amendment No. 3 amends the Statement on Schedule 13D (the
"Schedule 13D") filed with the Securities and Exchange Commission on January 9,
1998, and subsequently amended on January 28, 1998, and December 6, 1999, by
Jack N. Mandel, Joseph C. Mandel, Morton L. Mandel, the Jack N. Mandel Revocable
Trust, the Joseph C. Mandel Revocable Trust and the Morton L. Mandel Revocable
Trust. This Amendment No. 3 to Schedule 13D relates to the American Depositary
Receipts (the "Ordinary Share ADRs") evidencing American Depositary Shares, each
representing two Ordinary Shares of 5 pence each (the "Shares") of Premier
Farnell plc, a U.K. corporation (the "Company"). The Company's principal
executive offices are located at Farnell House, Sandbeck Way, Wetherby, West
Yorkshire, LS 22 7DH, U.K. The following amendments to Items Four, Six and Seven
of the Schedule 13D are hereby made. Unless otherwise defined herein, all
capitalized terms shall have the meanings ascribed to them in the Schedule 13D.
Item 4. Purpose of Transaction.
The response to Item 4 of the Schedule 13D is hereby supplemented as
follows:
On June 6, 2000, each of the Reporting Persons, and several related
trusts and foundations not required to file a Schedule 13D with respect to the
Shares (the "Vendors"), entered into an agreement (the "Purchase Agreement")
with Cazenove & Co., a U.K. partnership ("Cazenove") . Under the Purchase
Agreement, the Vendors have agreed to sell, and Cazenove has agreed to purchase,
17,850,000 Shares (8,925,000 ADSs) at a price of $6.6616 per Share. Upon the
terms and subject to the conditions set forth therein, the sale of Shares to
Cazenove contemplated by the Purchase Agreement will be consummated on June 13,
2000.
The Reporting Persons entered into the Purchase Agreement with the
intention of diversifying their investment portfolio. Although Morton L. Mandel
remains a director of the Company, none of the Reporting Persons is currently
responsible for the day-to-day management of the Company's business. The
Reporting Persons are active in the eleemosynary community of Cleveland, and
seek greater liquidity in their investments in part to facilitate charitable
donations. The Reporting Persons' investment intent with regard to the Shares
has not otherwise changed.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
The response to Item Six of the Schedule 13D is hereby supplemented as
follows:
(Page 9 of 11 Pages)
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CUSIP NO. 740-50U-206 SCHEDULE 13D
On June 6, 2000, the Reporting Persons entered into the Purchase
Agreement described above under "Item 4. Purpose of Transaction." The text of
such Item 4 in its entirety is incorporated by reference into this Item 6.
Besides customary representations and warranties, and a mutual
indemnity, the Purchase Agreement prohibits the Vendors from selling any further
Shares during the period ending six months after consummation of the sale of
Shares to Cazenove or upon publication of the Company's interim results for the
period to July 31, 2000, whichever is later; provided that the Vendors are free
to sell Shares in any amount: (i) if the Company or any successor entity is the
purchaser or acquiror of such Shares; and (ii) if such Shares are sold pursuant
to a tender offer, exchange offer, or other bid by which a third party seeks to
obtain control of the Company.
Following consummation of the sale of ADSs to Cazenove contemplated by
the Purchase Agreement, the Reporting Persons and certain related parties not
required to file a Schedule 13D with respect to the Shares will, as a group,
cease to own Shares representing 20% or more of the Total Voting Power of the
Company on a fully-diluted basis (as calculated under the formula set forth in
the Shareholders Agreement defined below). As a result, the Reporting Persons
and such related parties will no longer be subject to the restrictions on
voting, acquiring, and transferring Shares, acquiring control and taking certain
other actions set forth in Article II of the Shareholders Agreement dated as of
January 23, 1996 between Farnell Electronics plc (a predecessor of the Company)
and the Shareholders listed on Schedule 1 thereto, which was filed as Exhibit 2
to the Schedule 13D (the "Shareholders Agreement"). The restrictions imposed by
the Shareholders Agreement are more fully described in Item Six of the Schedule
13D. The Reporting Persons and the related parties who are party to the
Shareholders Agreement will remain entitled thereunder to nominate two directors
to the Company's Board and to require registration of the Shares under the
Securities Act under certain circumstances described in the Shareholders
Agreement.
Item 7. Material to be Filed as Exhibits.
(1) Purchase Agreement with Cazenove & Co. dated June 6, 2000.
(Page 10 of 11 Pages)
<PAGE>
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: 6-6-00 /s/ Jack N. Mandel
----------------------- ------------------
JACK N. MANDEL
/s/ Joseph C. Mandel
--------------------
JOSEPH C. MANDEL
MORTON L. MANDEL
JACK N. MANDEL REVOCABLE TRUST
By: /s/ Joseph C. Mandel
--------------------
Joseph C. Mandel, Trustee
By: Morton L. Mandel,
Trustee
JOSEPH C. MANDEL REVOCABLE TRUST
By: /s/ Jack N. Mandel
------------------
Jack N. Mandel, Trustee
By: Morton L. Mandel,
Trustee
MORTON L. MANDEL REVOCABLE TRUST
By: /s/ Jack N. Mandel
------------------
Jack N. Mandel, Trustee
By: /s/ Joseph C. Mandel
--------------------
Joseph C. Mandel, Trustee
Signed on his own behalf and on
behalf of Morton L. Mandel pursuant
to a power of attorney
By: /s/ Jack N. Mandel
--------------------
Jack N. Mandel
