<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
---------
HORIZON GROUP PROPERTIES, INC.
--------------------------------------------------------
(Name of Issuer)
COMMON
--------------------------------------------------------
(Title of Class of Securities)
44041U-10-2
--------------------------------------------------------
(CUSIP Number)
HOWARD AMSTER, 23811 CHAGRIN BLVD #200, BEACHWOOD OH 44122-5525 (216) 595-1047
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
7/27/98
--------------------------------------------------------
(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 being paid with the statement / /. (A fee
is not required only if the reporting person: has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on 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 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 2 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 53674
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 158632
--------------------------------------------------
(9) Sole Dispositive
Power 53674
--------------------------------------------------
(10) Shared Dispositive
Power 158632
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
189888
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
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(13) Percent of Class Represented by Amount in Row (11)
6.86%
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(14) Type of Reporting Person*
IN
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 3 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 115770
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 115770
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
107143
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
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(13) Percent of Class Represented by Amount in Row (11)
3.87%
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(14) Type of Reporting Person*
CO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 4 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
TAMRA F. GOULD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
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(3) SEC Use Only
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(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 58640
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 58640
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
28540
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.03%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 5 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
GOULD TRADING COMPANY
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 28540
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 28540
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
28540
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.03%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 6 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY CHARITABLE REMAINDER UNITRUSTS
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 8627
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 8627
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
8627
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
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(13) Percent of Class Represented by Amount in Row (11)
.31%
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(14) Type of Reporting Person*
OO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 7 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD M AMSTER CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 12700
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 12700
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
12700
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
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(13) Percent of Class Represented by Amount in Row (11)
.46%
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(14) Type of Reporting Person*
OO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 8 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER & TAMRA F GOULD CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 30100
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 30100
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
30100
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
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(13) Percent of Class Represented by Amount in Row (11)
1.09%
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(14) Type of Reporting Person*
OO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 9 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
PLEASANT LAKE APTS CORP
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
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(4) Source of Funds*
WO
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 35
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 35
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
35
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
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(13) Percent of Class Represented by Amount in Row (11)
.00%
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(14) Type of Reporting Person*
CO
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 10 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
RAMAT SECURITIES LTD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 29009
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 29009
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
29009
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.04%
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(14) Type of Reporting Person*
BD
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<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 11 of Pages
--
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
JEFFREY SHAFER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 62
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 62
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
31
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
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(13) Percent of Class Represented by Amount in Row (11)
.00%
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(14) Type of Reporting Person*
IN
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<PAGE>
SCHEDULE 13D, Amendment # 1
CUSIP No. 44041U-10-2
There are no changes to the Schedule 13D, as amended except as follows:
The original Howard Amster cover sheet, Schedule 13D at Item 11 showed
141028. The correct number on that date should have been 141088.
Item 3. Source and Amount of Funds or Other Consideration
Howard Amster, in his individual retirement account, purchased additional
shares of Horizon Group Properties, Inc. with personal funds without
borrowing. The total consideration of the purchase is $87,007.29.
Gould Trading Company purchased additional shares of Horizon Group
Properties, Inc. with working capital without borrowing. The total
consideration of the purchases is $150,094.36.
Amster Trading Company purchased additional shares of Horizon Group
Properties with working capital without borrowing. The total consideration
for the purchase is $168,714.82.
Howard M. Amster Charitable Remainder Unitrust purchased additional shares of
Horizon Group Properties, Inc. with trust assets without borrowing. The total
consideration for the purchase is $42,485.62.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust purchased
additional shares of Horizon Group Properties, Inc. with trust assets without
borrowing. The total consideration for the purchase is $136,765.08.
Item 5. Interest in Securities of the Issuer
(a)(b) The aggregate amount owned by the Reporting Persons is 269,855
shares or 9.74% of the outstanding shares.
Howard Amster in his own name and individual retirement accounts
owns 53,639 shares or 1.94% of the outstanding shares.
Gould Trading Company owns 28,540 shares or 1.03% of the outstanding
shares.
Howard Amster and Jeffrey Shafer as tenants in common own 62 shares
or .00% of the outstanding shares.
Howard Amster disclaims ownership of 1/2 of these shares.
Jeffrey Shafer disclaims ownership of 1/2 of these shares.
Amster Trading Company owns 107,143 shares or 3.87% of the
outstanding shares.
Amster Trading Company Charitable Remainder Unitrusts owns 8,627
shares or .31% of the outstanding shares.
Howard M Amster Charitable Remainder Unitrust owns 12,700 shares or
<PAGE>
.46% of the outstanding shares.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust owns
30,100 shares or 1.09% of the outstanding shares.
Pleasant Lakes Apts Corp owns 35 shares or .00% of the outstanding
shares.
Ramat Securities Ltd owns 29,009 shares or 1.04% of the outstanding
shares.
c)
<TABLE>
<CAPTION>
Name Date Shares Price Where and How Executed by
<S> <C> <C> <C> <C> <C>
Howard Amster IRA 7/27/98 16,600 5.2184 Over the Counter/Open Mkt Everen Securities
Gould Trading Co 7/20/98 14,500 5.7108 Over the Counter/Open Mkt Everen Securities
7/21/98 5,000 5.625 Over the Counter/Open Mkt Everen Securities
7/22/98 2,000 5.5625 Over the Counter/Open Mkt Everen Securities
7/23/98 5,000 5.4583 Over the Counter/Open Mkt Everen Securities
Amster Trading Co 7/27/98 32,200 5.2184 Over the Counter/Open Mkt Everen Securities
Howard M Amster 7/27/98 8,100 5.2184 Over the Counter/Open Mkt Everen Securities
Charitable Remainder
Unitrust
H. Amster & T. Gould 7/27/98 26,100 5.2184 Over the Counter/Open Mkt Everen Securities
Charitable Remainder
Unitrust
</TABLE>
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.
Date: 7/31/98 /s/ /s/
Howard Amster Howard M. Amster Charitable
Remainder Unitrust
/s/ /s/
Amster Trading Company Howard Amster & Tamra F.
Gould Charitable Remainder
Unitrust
/s/ /s/
Tamra F. Gould Gould Trading Company
/s/ /s/
Pleasant Lake Apts. Ramat Securities Ltd
Corp.
/s/ /s/
Amster Trading Company Jeffrey Shafer
Charitable Remainder
Unitrusts
