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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
Coastcast Corporation
(Name of Issuer)
Common Stock
- ---------------------------------------------------------------------------
(Title of Class of Securities)
19057T108
(CUSIP Number)
Elizabeth D. Giorgis
Gruber and McBaine Capital Management
50 Osgood Place, Penthouse
San Francisco, CA 94133
(415) 981-1039
- ---------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
February 2, 1998
(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 / /.
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).
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB control number.
SEC 1746 (10-97)
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SCHEDULE 13D
CUSIP No. 19057T108 Page 2 of 15 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Gruber and McBaine Capital Management, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 420,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,000
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 3 of 15 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jon D. Gruber
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 61,600
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 420,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 61,600
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
481,600
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 4 of 15 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
J. Patterson McBaine
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, 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
United States
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 14,900
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 420,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 14,900
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
434,900
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 5 of 15 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Thomas O. Lloyd-Butler
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 420,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,000
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 6 of 15 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Lagunitas Partners, a California Limited Partnership
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 201,500
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
201,500
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
201,500
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.3
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 7 of 15 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GMJ Investments, L.P.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E)/ /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 5,500
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,500
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,500
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 8 of 15 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of Coastcast
Corporation, a California corporation ("PAR"). The principal executive
office of PAR is located at 3025 East Victoria Street, Rancho Dominguez, CA
90221.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction
C of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and controlling
persons, and the information regarding them, are as follows:
(a) Gruber and McBaine Capital Management, L.L.C. (LLC); Jon D. Gruber
(Gruber); J. Patterson McBaine (McBaine); Thomas O. Lloyd-Butler (TLB);
Lagunitas Partners, L.P., a California limited partnership (Lag); GMJ
Investments, L.P., a California limited partnership (GMJ).
(b) The business address of LLC, Gruber, McBaine, Lag, and GMJ is 50
Osgood Place, Penthouse, San Francisco, CA 94133.
(c) LLC is an investment adviser. Gruber and McBaine are the managers
of LLC, and Gruber, McBaine, TLB and Gruber and McBaine Capital Management,
a California corporation, are the members of LLC. Lag and GMJ are investment
limited partnerships. LLC is the general partner of Lag and GMJ.
(d) During the last five years, none of such persons has been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) All such persons are citizens of the United States of America.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 9 of 15 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as follows:
Purchaser Source of Funds Amount
LLC Capital Under Management $1,724,152
Gruber Personal Funds $579,198
McBaine Personal Funds $70,303
Lag Working Capital $1,586,157
GMJ Working Capital $43,990
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the purchase of the Stock reported herein was and is for
investment.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 10 of 15 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item 2 of this
statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
LLC 420,000 4.7 0 420,000 0 420,000
Gruber 481,600 5.4 61,600 420,000 61,600 420,000
McBaine 434,900 4.9 14,900 420,000 14,900 420,000
TLB 420,000 4.7 0 420,000 0 420,000
Lag 201,500 2.3 0 201,500 0 201,500
GMJ 5,500 0.1 0 5,000 0 5,500
The persons filing this statement effected the following transactions in the
Stock on the dates indicated, and such transactions are the only transactions
in the Stock by the persons filing this statement since 11/2/97:
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 11 of 15 Pages
Purchase Number Price Broker
Name or Sale Date of Shares Per Share Used
Lag P 11/13/97 7500 13.85 BEST
Gruber P 11/13/97 2500 13.85 BEST
McBaine P 11/13/97 500 13.85 BEST
LLC P 11/13/97 4500 13.85 BEST
LLC P 11/13/97 9500 13.74 SASI
McBaine P 11/13/97 500 13.74 SASI
Gruber P 11/13/97 1000 13.55 SNDV
Lag P 11/14/97 4500 13.74 CHGO
LLC P 11/14/97 2500 13.74 CHGO
Gruber P 11/14.97 2500 13.74 CHGO
McBaine P 11/14/97 500 13.74 CHGO
Lag P 11/18/97 7000 14.28 SASI
LLC P 11/18/97 3500 14.28 SASI
Gruber P 11/18/97 2000 14.28 SASI
Lag P 11/19/97 8000 14.29 SASI
LLC P 11/19/97 3600 14.29 SASI
GMJ P 11/19/97 1500 14.29 SASI
Gruber P 11/19/97 3000 14.29 SASI
Lag P 11/20/97 5000 14.30 SASI
LLC P 11/20/97 1500 14.30 SASI
Gruber P 11/20/97 2500 14.30 SASI
McBaine P 11/20/97 1000 14.30 SASI
Lag P 11/25/97 3000 13.68 WSLS
Gruber P 11/25/97 1000 13.68 WSLS
LLC P 11/25/97 1700 13.68 WSLS
Lag P 11/28/97 4500 14.15 DAKN
LLC P 11/28/97 2000 14.15 DAKN
Gruber P 11/28/97 3500 14.15 DAKN
LLC P 12/1/97 4000 14.30 MONT
LLC P 12/1/97 4700 14.25 FACT
McBaine P 12/2/97 1000 14.08 FACT
LLC P 12/2/97 3500 14.08 FACT
Lag P 12/2/97 4300 14.08 FACT
Gruber P 12/2/97 1500 14.08 FACT
Lag P 12/3/97 6000 14.23 MONT
LLC P 12/3/97 1000 14.23 MONT
Gruber P 12/3/97 3000 14.23 MONT
Gruber P 12/4/97 1000 14.36 SNDV
LLC P 12/4/97 800 14.36 SNDV
Lag P 12/5/97 1000 14.55 SNDV
LLC P 12/5/97 1800 14.55 SNDV
Gruber P 12/5/97 1400 14.55 SNDV
Lag P 12/11/97 4000 14.80 MONT
LLC P 12/11/97 1000 14.80 MONT
Lag P 12/12/97 5000 14.79 FACT
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 12 of 15 Pages
Purchase Number Price Broker
Name or Sale Date of Shares Per Share Used
LLC P 12/12/97 3000 14.79 FACT
LLC P 12/12/97 3000 14.80 MONT
LLC P 12/15/97 1300 14.51 BEST
LLC P 12/16/97 6500 14.62 BEST
Gruber P 12/16/97 1000 14.62 BEST
Lag P 12/17/97 5000 15.03 BEST
LLC P 12/17/97 1500 15.03 BEST
McBaine P 12/17/97 600 15.03 BEST
Lag P 12/18/97 4000 15.07 BEST
LLC P 12/18/97 1100 15.07 BEST
Gruber P 12/18/97 1000 15.07 BEST
Lag P 12/22/97 9000 13.80 SASI
Gruber P 12/22/97 2000 13.80 SASI
LLC P 12/22/97 3000 13.80 SASI
Gruber P 12/22/97 3000 14.30 WSLS
LLC P 12/22/97 7000 14.30 WSLS
LLC P 1/8/98 5000 14.93 SASI
Lag P 1/12/98 2500 14.35 MONT
LLC P 1/12/98 2500 14.35 MONT
LLC P 1/12/98 400 14.18 BEST
Lag P 1/13/98 4500 14.68 MONT
LLC P 1/13/98 5500 14.68 MONT
LLC P 1/13/98 3200 14.61 BEST
Gruber P 1/13/98 2000 14.61 BEST
Lag P 1/20/98 1500 15.03 ISIG
LLC P 1/20/98 5200 15.03 ISIG
LLC P 1/22/98 2200 15.10 MONT
Lag P 2/2/98 5000 14.79 UBS
LLC P 2/2/98 5000 14.79 UBS
LLC P 2/2/98 500 14.30 SASI
Lag P 2/3/98 10300 15.04 MONT
LLC P 2/3/98 2900 15.04 MONT
GMJ P 2/3/98 1500 15.04 MONT
McBaine P 2/3/98 500 15.04 MONT
Gruber P 2/3/98 2400 15.04 MONT
LLC P 2/3/98 11400 14.95 SASI
Lag P 2/3/98 3000 14.95 SASI
Gruber P 2/3/98 900 14.95 SASI
McBaine P 2/4/98 300 15.74 BRDG
Gruber P 2/4/98 3100 15.74 BRDG
Lag P 2/4/98 4100 15.74 BRDG
LLC P 2/4/98 2500 15.74 BRDG
LLC P 2/4/98 800 15.68 MONT
Lag P 2/4/98 900 15.68 MONT
All transactions were executed through the New York Stock Exchange.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 13 of 15 Pages
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
LLC is the general partner of Lag and GMJ, pursuant to limited partnership
agreements. These agreements provide to the general partner the authority,
among other things, to invest the funds of GMJ and Lag in the Stock, to vote
and dispose of those securities and to file this statement on behalf of GMJ
and Lag. Also pursuant to those limited partnership agreements, LLC is
entitled to fees based on assets under management and realized and unrealized
gains, if certain conditions are met. Pursuant to investment management
agreements, LLC is authorized, among other things, to invest funds of its
various investment advisory clients, and to vote and dispose of those
securities. Such investment management agreements may be terminated by
either party on thirty days notice, and provide for fees payable to LLC
based on assets under management and realized and unrealized gains, if
certain conditions are met. Pursuant to authority granted to LLC orally and
under a Power of Attorney, LLC is authorized, among other things, to invest
funds of various relatives and affiliates of Gruber and McBaine. Such
authority may be terminated at any time on notice and there are no fees
payable to LLC for those services.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 14 of 15 Pages
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
(previously filed).
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify that
the information set forth in this statement is true, complete and correct.
DATED: February 18, 1998
Jon D. Gruber
J. Patterson McBaine
Thomas O. Lloyd-Butler
Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine,
Manager
GMJ Investments, L.P., by Gruber and McBaine Capital Management, L.L.C.,
General Partner, by J. Patterson McBaine, Manager
Lagunitas Partners, a California Limited Partnership, by Gruber and McBaine
Capital Management, L.L.C., by J. Patterson McBaine, Manager
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 19057T108 Page 15 of 15 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G
(and any amendments or supplements thereto) required under section 13(d) of
the Securities Exchange Act of 1934, as amended, in connection with purchases
by the undersigned of common stock of PAR. For that purpose, the undersigned
hereby constitute and appoint Gruber & McBaine Capital Management, L.L.C., as
their true and lawful agent and attorney-in-fact, with full power and
authority for and on behalf of the undersigned to prepare or cause to be
prepared, sign, file with the SEC and furnish to any other person all
certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases, and to do and perform every act
necessary and proper to be done incident to the exercise of the foregoing
power, as fully as the undersigned might or could do if personally present.
DATED: February 18, 1998.
Jon D. Gruber
J. Patterson McBaine
Thomas O. Lloyd-Butler
Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine,
Manager
GMJ Investments, L.P., by Gruber and McBaine Capital Management, L.L.C.,
General Partner, by J. Patterson McBaine, Manager
Lagunitas Partners, a California Limited Partnership, by Gruber and McBaine
Capital Management, L.L.C., by J. Patterson McBaine, Manager
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