FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
/_/ Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
See Instruction 1(b).
1. Name and Address of Reporting Person*:
Four Partners
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(LAST) (FIRST) (MIDDLE)
c/o Thomas J. Tisch
667 Madison Avenue
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(STREET)
New York, New York 10021
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(CITY) (STATE) (ZIP)
2. Issuer Name and Ticker or Trading Symbol:
Gunther International, Ltd. (SORT)
3. IRS Identification Number of Reporting Person, if an entity (Voluntary):
4. Statement for Month/Year:
10/1998
5. If Amendment, Date of Original:
(Month/Year)
6. Relationship of Reporting Person(s) to Issuer: (Check all applicable)
_____ Director
_____ Officer (give title below)
__X__ 10% Owner
_____ Other (specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
__X__ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
1. Title of Security:
(Instr. 3)
Common Stock, $0.001 par value ("Common Stock")
2. Transaction Date:
(Month/Day/Year
3. Transaction Code:
(Instr. 8)
Code V
4. Securities Acquired (A) or Disposed of (D):
(Instr. 3, 4 and 5)
Amount (A) or (D) Price
5. Amount of Securities Beneficially Owned at End of Month:
(Instr. 3 and 4)
494,189
6. Ownership Form: Direct (D) or Indirect (I):
(Instr. 4)
D
7. Nature of Indirect Beneficial Ownership:
(Instr. 4)
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
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Table II - Derivative Securities Acquired, Disposed of, or
Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
1. Title of Derivative Security:
(Instr. 3)
Warrants issued December 20, 1993 ("IPO Warrants")
Warrants issued October 2, 1998 ("Loan Warrants")
2. Conversion or Exercise Price of Derivative Security:
IPO Warrants - $6.00 per share of Common Stock
Loan Warrants - $1.50 per share of Common Stock
3. Transaction Date:
(Month/Day/Year)
Loan Warrants - October 2, 1998
4. Transaction Code:
(Instr. 8)
Code V
Loan Warrants - P
5. Number of Derivative Securities Acquired (A) or Disposed of (D):
(Instr. 3, 4 and 5)
(A)
Loan Warrants- 2,105,688
(D)
6. Date Exercisable and Expiration Date:
(Month/Day/Year)
Date Exercisable
IPO Warrants - 12/20/1994
Loan Warrants - 1/1/1999
Expiration Date
IPO Warrants - 12/20/1998
Loan Warrants - 10/2/2003
7. Title and Amount of Underlying Securities:
(Instr. 3 and 4)
Title Amount or Number of Shares
IPO Warrants - Common Stock 115,000 shares
Loan Warrants - Common Stock 2,105,688 shares
8. Price of Derivative Security:
(Instr. 5)
Loan Warrants - $0.1331 (per share of underlying Common Stock)
9. Number of Derivative Securities Beneficially Owned at End of Month:
(Instr. 4)
IPO Warrants - 115,000
Loan Warrants- 2,105,688
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I):
(Instr. 4)
IPO Warrants - D
Loan Warrants - I
11. Nature of Indirect Beneficial Ownership:
(Instr. 4)
Loan Warrants - as member of Gunther Partners, LLC
Explanation of Responses:
The sole partners of Four Partners ("FP"), a New York general
partnership, are Andrew H. Tisch 1991 Trust, for which Andrew H. Tisch
is the managing trustee, Daniel R. Tisch 1991 Trust, for which Daniel
R. Tisch is the managing trustee, James S. Tisch 1991 Trust, for which
James S. Tisch is the managing trustee, and Thomas J. Tisch 1991 Trust,
for which Thomas J. Tisch is the managing trustee. Thomas J. Tisch has
been appointed the Manager of FP.
FP is a member of Gunther Partners, LLC, a Delaware limited
liability company ("GP"). In this Form 4, FP has reported its pro rata
ownership of Loan Warrants as a member of GP. Thomas J. Tisch has been
appointed the Manager of GP.
FOUR PARTNERS
/s/ Thomas J. Tisch
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** Signature of Reporting Person
Date: November 10, 1998
** 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 the Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
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 Number.
