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OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response.... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Robert Fleming, Inc.
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(Last) (First) (Middle)
320 Park Avenue, 11th Floor
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
3/2/99
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Global Pharmaceutical Corporation (GLPC)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
________________________________________
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
|_| Form filed by One Reporting Person
|X| Form filed by More than One Reporting Person
================================================================================
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 5) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 7
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Series D Convertible
Preferred Stock Immed. 3/31/04 Common Stock 1,500,000 $2.00 per share (1) (1)
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Common Stock Warrants
(right to buy) Immed. 3/31/04 Common Stock 375,000 $4.00 per share (1) (1)
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</TABLE>
Explanation of Responses:
(1) Fleming US Discovery Fund III, L.P. ("US Fund") owns 25,856 shares of
Series D Convertible Preferred Stock, which are currently convertible into
1,292,800 shares of Common Stock, and Warrants to purchase 323,200 shares
of Common Stock. Fleming US Discovery Offshore Fund III, L.P. ("Offshore
Fund") owns 4,144 shares of Series D Convertible Preferred Stock, which
are currently convertible into 207,200 shares of Common Stock, and
Warrants to purchase 51,800 shares of Common Stock. Fleming US Discovery
Partners, L.P. ("Fleming Partners") is the general partner of the US Fund
and a general partner of the Offshore Fund, and thus may be deemed to have
an indirect beneficial ownership in these securities. Fleming Partners
disclaims beneficial ownership of such securities except to the extent of
its pecuniary interest therein. Fleming US Discovery, LLC ("Discovery") is
the general partner of Fleming Partners, and thus may be deemed to have an
indirect benefical ownership in these securities. Discovery disclaims
beneficial ownership of such securities except to the extent of its
pecuniary interest therein. Robert Fleming, Inc. ("RFI") is the investment
adviser to US Fund and Offshore Fund, and thus may be deemed to have an
indirect beneficial ownership in these securities. RFI disclaims
beneficial ownership of such securities except to the extent of its
pecuniary interest therein. Robert Fleming Holdings, Ltd. ("RFH") is the
parent of RFI, and thus may be deemed to have an indirect beneficial
ownership in these securities. RFH disclaims beneficial ownership of such
securities except to the extent of its pecuniary interest therein.
ROBERT FLEMING, INC.
By: /s/ Robert L. Burr 3/12/99
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** Signature of Reporting Person Date
Robert L. Burr. Director
** 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 procedure.
Page 2 of 7
<PAGE>
Joint Filer Information
Name: FLEMING US DISCOVERY FUND III, L.P.
Address: 320 Park Avenue, 11th Floor
New York, NY 10022
Designated Filer: Robert Fleming, Inc.
Issuer & Ticker Symbol: Global Pharmaceutical Corporation (GLPC)
Date of Event
Requiring Statement: 3/2/99
Signature: FLEMING US DISCOVERY FUND III, L.P.
By: Fleming US Discovery Partners, L.P., its
general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
--------------------------------
Robert L. Burr, Director
Page 3 of 7 Pages
<PAGE>
Joint Filer Information
Name: FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
Address: c/o Bank of Bermuda, Ltd,
6 Front St
Hamilton HM 11 Bermuda
Designated Filer: Robert Fleming, Inc.
Issuer & Ticker Symbol: Global Pharmaceutical Corporation (GLPC)
Date of Event
Requiring Statement: 3/2/99
Signature: FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
By: Fleming US Discovery Partners, L.P., its
general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
--------------------------------
Robert L. Burr, Director
Page 4 of 7 Pages
<PAGE>
Joint Filer Information
Name: FLEMING US DISCOVERY PARTNERS, L.P.
Address: 320 Park Avenue, 11th Floor
New York, NY 10022
Designated Filer: Robert Fleming, Inc.
Issuer & Ticker Symbol: Global Pharmaceutical Corporation (GLPC)
Date of Event
Requiring Statement: 3/2/99
Signature: FLEMING US DISCOVERY PARTNERS, L.P.
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
-------------------------
Robert L. Burr, Director
Page 5 of 7 Pages
<PAGE>
Joint Filer Information
Name: FLEMING US DISCOVERY, LLC
Address: 320 Park Avenue, 11th Floor
New York, NY 10022
Designated Filer: Robert Fleming, Inc.
Issuer & Ticker Symbol: Global Pharmaceutical Corporation (GLPC)
Date of Event
Requiring Statement: 3/2/99
Signature: FLEMING US DISCOVERY, LLC
By: /s/ Robert L. Burr
------------------------------
Robert L. Burr, Director
Page 6 of 7 Pages
<PAGE>
Joint Filer Information
Name: ROBERT FLEMING HOLDINGS, LTD.
Address: 25 Copthall Avenue
London EC2B 7PQ, England
Designated Filer: Robert Fleming, Inc.
Issuer & Ticker Symbol: Global Pharmaceutical Corporation (GLPC)
Date of Event
Requiring Statement: 3/2/99
Signature: ROBERT FLEMING HOLDINGS, LTD.
By: /s/ Arthur A. Levy
------------------------------
Arthur A. Levy, Director
Page 7 of 7 Pages
