UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
Glyko Biomedical, Ltd. (the "Issuer")
(Name of Issuer)
Common Stock
(Title of Class of Securities)
379904 10 5
(CUSIP Number)
Check the following box if a fee is being paid with the statement ___. (A fee is
not required only if the reporting person: (1) 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.).
*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 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 13G
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CUSIP No. 379904 10 5
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Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gwynn R. Williams
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom
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NUMBER OF 5 SOLE VOTING POWER
SHARES 2,945,910 shares as of March 21, 1997
BENEFICIALLY (See Item 4(c) herein)
OWNED BY
EACH
REPORTING
PERSON
WITH
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6 SHARED VOTING POWER
0 (See Item 4(c) herein)
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7 SOLE DISPOSITIVE POWER
2,945,910 shares as of March 21, 1997
(See Item 4(c) herein)
-------- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 (See Item 4(c) herein)
----------------- -------- --------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,945,910
shares of Common Stock (See Item 4(c)).
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.7%
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12 TYPE OF REPORTING PERSON*
IN
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<PAGE>
Item 1.
(a) Name of the Issuer: Glyko Biomedical, Ltd. (the "Issuer")
(b) Address of the Issuer: 11 Pimentel Court, Novato, CA 94949
Item 2.
(a) Name of the Person Filing: Gwynn R. Williams
(b) Address of the Principal Office: Ballabeg House
Cronkbourne Village
Braddan
Isle of Man, British Isles
(c) Citizenship: United Kingdom
(d) Title of Class of Securities: Glyko Biomedical Ltd. Common Stock
("Common Stock" or "Shares")
(e) CUSIP Number: 379904 10 5
Item 3. This statement is not being filed pursuant to Rule 13d-1(b) or 13d-2(b)
Page 3 of 5
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Item 4. Ownership
a. Amount Beneficially Owned
At March 21, 1997, the Reporting Person may be deemed to have
beneficially owned an aggregate of 2,945,910 shares of Common Stock.
All securities as being deemed owned by the Reporting person were
purchased as follows: (a) 2,050,468 shares of Issuer's Common Stock
(No Par Value) were acquired from the Issuer in the initial
public offering on December 21, 1992 (b) an additional 70,000 were
acquired from another investor at the initial public offering
(c) 408,784 shares were issued on March 31, 1993 by the Issuer for the
conversion of a bridge loan to the Issuer (d) 454,100 shares were sold
on September 28, 1993 (d) 416,758 shares were acquired from the Issuer
in a private placement on April 3, 1995 along with 416,758 warrants
to purchase common shares of the Issuer (e)450,000 shares were
acquired from another shareholder off market on June 19, 1995
(f) 4,000 shares were purchased from the Issuer on March 21, 1997
in a private placement and (g) 94,520 shares of stock options
were granted from 1994 to 1997 in lieu of director's fees, none of
which have been exercised and are not included in the above aggregate
ownership.
b. Percent of class
At March 21, 1997, the Reporting person may be deemed to have
beneficially owned approximately 13.7% of the outstanding shares of
Common Stock. This percentage was calculated based upon 21,523,044
shares of Common Stock outstanding as reported in the Issuer's
Quarterly Report on Form 10-QSB for the quarter ended March 31, 1997,
as being outstanding as of April 30, 1997.
c. Power to vote or direct the vote and dispose or direct the
disposition of securities
At March 21, 1997, (i) Reporting Person had the sole power to
vote or direct the vote of, and the sole power to dispose or direct
the disposition of, all 2,945,910 shares of Common Stock reported
herein to be beneficially owned by the Reporting Person, and (ii) the
Reporting Person would also have the sole power to vote or direct the
vote of, and the sole power to dispose or direct the disposition of
all 416,758 shares of Common Stock underlying the Warrants, when, as
and if it elected to exercise such Warrants, and (iii) the Reporting
Person would also have the sole power to vote or direct the vote of
and the sole power to dispose or direct the disposition of 94,520
shares of Common Stock Options, when, as and if it elected to exercise
such Options together aggregating (with its present direct 2,945,910
share holdings) 3,457,188 Common Shares, or approximately 16.1%
as of March 21, 1997, computed as aforesaid. The Reporting Person
has no present intent to exercise its voting power in a manner which
would change or influence the control of the Issuer. In addition,
the Reporting Person has made an undertaking to The Toronto
Stock Exchange not to sell or otherwise dispose of any of the
securities acquired from the Issuer March 21, 1997, reported on herein
for a period of six months from March 21, 1997, or such period as is
prescribed by the applicable securities legislation, whichever is
longer, without the prior consent of The Toronto Stock Exchange or
any other regulatory body having jurisdiction.
Page 4 of 5
<PAGE>
Item 5. Ownership of Five percent or less of a Class
Not Applicable
Item 6. Ownership of Five percent or less of a Class
Not Applicable
Item 7. Identification and Classification of the Subsidiary which Acquired the
Security being Reported on By the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
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: March 21, 1997
/s/ Gwynn R. Williams
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Gwynn R. Williams
Page 5 of 5
