SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
INTERNATIONAL POST LIMITED
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
460181100
------------------
(CUSIP Number)
Copy to:
Mr. Edward Grinacoff Stephen A. Cohen, Esq.
21st Century Communications Morrison Cohen Singer &
Partners, L.P. Weinstein, LLP
767 Fifth Avenue, 45th Floor 750 Lexington Avenue
New York, New York 10153 New York, New York 10022
Telephone (212) 754-8100 Telephone (212) 735-8600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
AUGUST 21, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing 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 space .
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).
(Continued on following page(s))
- 1 of 29 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
779,726 shares 12.5%
--------------------------------------------------------------------
8 Shared Voting Power
370,274 shares 5.9%
--------------------------------------------------------------------
9 Sole Dispositive Power
779,726 shares 12.5%
--------------------------------------------------------------------
10 Shared Dispositive Power
370,274 shares 5.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 2 of 29 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications T-E Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
265,296 shares 4.3%
--------------------------------------------------------------------
8 Shared Voting Power
884,704 shares 14.2%
--------------------------------------------------------------------
9 Sole Dispositive Power
265,296 shares 4.3%
--------------------------------------------------------------------
10 Shared Dispositive Power
884,704 shares 14.2%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 3 of 29 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Foreign Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
104,978 shares 1.7%
--------------------------------------------------------------------
8 Shared Voting Power
1,045,022 shares 16.8%
--------------------------------------------------------------------
9 Sole Dispositive Power
104,978 shares 1.7%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,045,022 shares 16.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 4 of 29 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Sandler Capital Management
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,221,000 shares 19.6%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,221,000 shares 19.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,221,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
19.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 5 of 29 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Michael J. Marocco
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,376,000 shares 22.1%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,376,000 shares 22.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,376,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
22.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 6 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Lewis
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
0 shares 0%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
0 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 7 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
John Kornreich
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
20,000 shares 0.3%
--------------------------------------------------------------------
8 Shared Voting Power
1,376,000 shares 22.1%
--------------------------------------------------------------------
9 Sole Dispositive Power
20,000 shares 0.3%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,376,000 shares 22.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,396,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
22.4%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 8 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Harvey Sandler
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2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,376,000 shares 22.1%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,376,000 shares 22.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,376,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
22.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 9 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew Sandler
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,376,000 shares 22.1%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,376,000 shares 22.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,376,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
22.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 10 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,150,000 shares 18.5%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 18.5%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 11 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,150,000 shares 18.5%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0
--------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 18.5%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 12 of 29 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
1,150,000 shares 18.5%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 18.5%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* //
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
18.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 13 of 29 -
<PAGE>
This statement, dated August 21, 1997, constitutes Amendment No. 4 to the
Schedule 13D, dated December 21, 1994, regarding the reporting persons'
ownership of common stock of International Post Limited (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 4 to the Schedule is filed in accordance with Rule 13d-2
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the
reporting persons. It shall refer only to information which has materially
changed since the filing of the Schedule.
ITEM 1. SECURITY AND ISSUER.
(a) Common Stock, $0.01 par value per share (CUSIP No. 46018110).
(b) International Post Limited
545 Fifth Avenue
New York, New York 10017
ITEM 2. IDENTITY AND BACKGROUND
The reporting persons are Sandler Capital Management, a registered
investment adviser and a New York general partnership ("SCM"), and Harvey
Sandler, Barry Lewis (through June 30, 1997), John Kornreich, Michael Marocco
and Andrew Sandler (each, an "Individual", and collectively, the "Individuals").
SCM shares are held through 21st Century Communications Partners, L.P. ("21st
Century"), 21st Century Communications T-E Partners, L.P. ("T-E") and 21st
Century Communications Foreign Partners, L.P. ("Foreign"), each of which is a
Delaware limited partnership (collectively, the "Partnerships"). Sandler
Investment Partners ("SIP") is a general partner of each of the Partnerships.
SCM is the general partner of SIP. SCM also holds shares on behalf of certain
managed accounts with respect to which SCM exercises investment discretion. Each
Individual, through a Delaware corporation that is controlled by such Individual
and that serves as a general partner of SCM, may be deemed to be a beneficial
owner of the shares of the Common Stock held by the Partnerships and such
managed accounts. Sandler Associates, a New York limited partnership, owns
155,000 shares of Common Stock. Each Individual is a general partner of Sandler
Associates.
1. (a) 21ST CENTURY COMMUNICATIONS PARTNERS, L.P., a limited partnership
organized under the laws of the State of Delaware ("21st Century").
- 14 of 29 -
<PAGE>
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
Sandler Investment Partners, L.P. ("SIP") and InfoMedia Associates,
Ltd. ("InfoMedia") are the general partners of 21st Century. The limited
partners of 21st Century include certain other investors.
2. (a) 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P., a limited
partnership organized under the laws of the State of Delaware ("T-E").
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
SIP and InfoMedia are the general partners of T-E. The limited
partners of T-E include certain other investors.
3. (a) 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P., a limited
partnership organized under the laws of the State of Delaware ("Foreign").
(b) Address:
c/o Fiduciary Trust (Cayman) Limited
P.O. Box 1062
Grand Cayman, B.W.I.
(c) Principal Occupation: Investments.
(d) No.
- 15 of 29 -
<PAGE>
(e) No.
SIP, 21st Century Management and InfoMedia are the general partners
of Foreign. The limited partners of Foreign include certain other investors.
4. (a) SANDLER CAPITAL MANAGEMENT, a registered investment adviser and a
general partnership organized under the laws of the State of New York ("SCM").
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
Harvey Sandler, John Kornreich, Michael Marocco and Andrew Sandler
each control a Delaware corporation, and these corporations are the general
partners of SCM. SCM is the general partner of Sandler Investment Partners
("SIP"), which is a general partner of each of 21st Century, T-E and Foreign.
5. (a) MICHAEL J. MAROCCO, is the sole shareholder of MJDM Corp. (Effective
January 1, 1997, MJM Media Corp. transferred and assigned its interest in SCM to
MJDM Corp., a Delaware corporation.)
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
MJDM Corp. is a general partner of SCM, which is the general
partner of SIP, a general partner of 21st Century, T-E and Foreign.
- 16 of 29 -
<PAGE>
6. (a) BARRY LEWIS, is the majority shareholder of EMEBE Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
EMEBE Corp. was a general partner of SCM through June 30, 1997. SCM
is the general partner of SIP, a general partner of 21st Century, T-E and
Foreign.
7. (a) JOHN KORNREICH is the majority shareholder of Four JK Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
Four JK Corp. is a general partner of SCM, which is the general
partner of SIP, a general partner of 21st Century, T-E and Foreign. J.K. Media
L.P., a New York limited partnership, is controlled by John Kornreich.
8. (a) HARVEY SANDLER is the sole shareholder of ARH Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
- 17 of 29 -
<PAGE>
(c) Principal Occupation: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
ARH Corp. is a general partner of SCM, which is the general partner
of SIP, a general partner of 21st Century, T-E and Foreign.
9. (a) ANDREW SANDLER is the majority member of ALSI, LLC.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
ALSI, LLC is a general partner of SCM, which is the general partner
of SIP, a general partner of 21st Century, T-E and Foreign.
10. (a) BARRY RUBENSTEIN, a shareholder, President and director of
InfoMedia.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
- 18 of 29 -
<PAGE>
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and Foreign.
11. (a) BARRY FINGERHUT, a shareholder, Executive Vice President and
director of InfoMedia.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment adviser.
(d) No.
(e) No.
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and Foreign.
12.(a) IRWIN LIEBER, a shareholder, Secretary and Treasurer and a director
of InfoMedia.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment adviser.
(d) No.
(e) No.
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and Foreign.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of funds for the acquisition of the shares of Common Stock was
the general working capital of the Partnerships, various managed accounts and
the general working capital of Sandler Associates. In the aggregate 1,376,000
shares of Common Stock were acquired for a total purchase price of approximately
$6,841,660.
- 19 of 29 -
<PAGE>
<TABLE>
<CAPTION>
Number of Purchase
Shares Price
----------------- -------------------
<C> <C> <C>
21st Century Communications Partners, L.P. 779,726 $3,079,825
21st Century Communications T-E Partners, L.P. 265,296 1,047,872
21st Century Communications Foreign Partners, L.P. 104,978 414,613
Accounts Managed by SCM 71,000 646,050
Sandler Associates 155,000 1,653,300
</TABLE>
In addition, J.K. Media L.P., a New York limited partnership controlled by
John Kornreich, acquired 20,000 shares of Common Stock for a total purchase
price of $220,000.
ITEM 4. PURPOSE OF TRANSACTION.
The reporting persons acquired their shares for the purposes of investment.
The reporting persons do not have any plans or proposals which relate to or
would result in any of the actions set forth in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(a) The following list sets forth the aggregate number and percentage
(based on 6,226,958 shares of Common Stock outstanding as reported in the
Issuer's Proxy Statement dated July 25, 1997) of outstanding shares of Common
Stock owned beneficially by each reporting person named in Item 2, as of August
22, 1997:
Shares of Percentage of Shares
Common Stock of Common Stock
NAME BENEFICIALLY OWNED BENEFICIALLY OWNED
- ---- ------------------ ------------------
21st Century Communications 1,150,000 1 18.5%
Partners, L.P.
- ----------
1 21st Century disclaims beneficial ownership of 265,296 shares of
Common Stock owned by T-E and 104,978 shares of Common Stock owned
by Foreign.
- 20 of 29 -
<PAGE>
21st Century Communications T-E 1,150,000 2 18.5%
Partners, L.P.
21st Century Communications Foreign 1,150,000 3 18.5%
Partners, L.P.
Sandler Capital Management 1,221,000 4 19.6%
Michael J. Marocco 1,376,000 5,6 22.1%
Barry Lewis 0 0%
John Kornreich 1,396,000 5,6,7 22.4%
Harvey Sandler 1,376,000 5,6 22.1%
Andrew Sandler 1,376,000 5,6 22.1%
Barry Rubenstein 1,150,000 5,8 18.5%
Barry Fingerhut 1,150,000 5,8 18.5%
Irwin Lieber 1,150,000 5,8 18.5%
(b) By virtue of being the general partner of SIP and the manager of
certain accounts owning shares of Common Stock with respect to which SCM
exercises investment discretion, SCM may be deemed to have shared power to vote
and to dispose of 1,221,000 shares of Common Stock, representing approximately
19.6% of the outstanding Common Stock.
By virtue of being the sole shareholder of MJDM Corp. and a general partner
of Sandler Associates, Michael J. Marocco may be deemed to have shared power to
vote and to dispose of 1,376,000 shares of Common Stock, representing
approximately 22.1% of the outstanding Common Stock.
By virtue of being the majority shareholder of Four JK Corp. and a general
partner of Sandler Associates, John Kornreich may be deemed to have shared power
to vote and to dispose
- --------
2 T-E disclaims beneficial ownership of 779,726 shares of Common Stock
owned by 21st Century and 104,978 shares of Common Stock owned by
Foreign.
3 Foreign disclaims beneficial ownership of 779,726 shares of Common
Stock owned by 21st Century and 265,296 shares of Common Stock owned
by T-E.
4 Includes 779,726 shares of Common Stock owned by 21st Century,
265,296 shares of Common Stock owned by T-E and 104,978 shares of
Common Stock owned by Foreign. SCM disclaims beneficial ownership of
71,000 shares of Common Stock held in accounts managed by SCM.
5 The reporting person disclaims beneficial ownership of these
securities, except to the extent of his equity interest therein.
6 Includes 779,726 shares of Common Stock owned by 21st Century,
265,296 shares of Common Stock owned by T-E, 104,978 shares of
Common Stock owned by Foreign and 155,000 shares of Common Stock
owned by Sandler Associates. The reporting person disclaims
beneficial ownership of 71,000 shares of Common Stock held in
accounts managed by SCM.
7 Includes 20,000 shares of Common Stock owned by J.K. Media L.P.
8 Includes 779,726 shares of Common Stock owned by 21st Century,
265,296 shares of Common Stock owned by T-E and 104,978 shares of
Common Stock owned by Foreign.
- 21 of 29 -
<PAGE>
of 1,376,000 shares of Common Stock, representing approximately 22.1% of the
outstanding Common Stock. By virtue of being the general partner of JK Media
L.P., John Kornreich may be deemed to have sole power to vote and dispose of
20,000 shares of Common Stock, representing approximately 0.3% of the
outstanding Common Stock.
By virtue of being the sole shareholder of ARH Corp. and a general partner
of Sandler Associates, Harvey Sandler may be deemed to have shared power to vote
and to dispose of 1,376,000 shares of Common Stock, representing approximately
22.1% of the outstanding Common Stock.
By virtue of being a majority member of ALSI, LLC and a general partner of
Sandler Associates, Andrew Sandler may be deemed to have shared power to vote
and to dispose of 1,376,000 shares of Common Stock, representing approximately
22.1% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia, Barry
Rubenstein may be deemed to have shared power to vote and to dispose of
1,150,000 shares of Common Stock, representing approximately 18.5% of the
outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia, Irwin
Lieber may be deemed to have shared power to vote and to dispose of 1,150,000
shares of Common Stock, representing approximately 18.5% of the outstanding
Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia, Barry
Fingerhut may be deemed to have shared power to vote and to dispose of 1,150,000
shares of Common Stock, representing approximately 18.5% of the outstanding
Common Stock.
(c) The following is a description of all transactions in the shares of
Common Stock by the persons identified in Item 2 of this Schedule 13D effected
from June 21, 1997 through August 22, 1997, inclusive:
<TABLE>
<CAPTION>
Number of Shares
Purchase or of Common Stock Purchase or
Name Of Shareholder Sale Date Purchased Or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
<S> <C> <C> <C>
21st Century Communications
Partners, L.P. 8/21/97 67,800 $3.01
8/22/97 135,600 $2.88
- 22 of 29 -
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
21st Century Communications
T-E Partners, L.P. 8/21/97 23,070 $3.01
8/22/97 46,140 $2.88
21st Century Communications
Foreign Partners, L.P. 8/21/97 9,130 $3.01
8/22/97 18,260 $2.88
</TABLE>
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES
OF THE ISSUER
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 7.01 Joint Filing Agreement
- 23 of 29 -
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Date: September 11, 1997
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS,
L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN
PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
- 24 of 29 -
<PAGE>
S/MICHAEL J. MAROCCO
--------------------------------------
Michael J. Marocco
S/BARRY LEWIS
--------------------------------------
Barry Lewis
S/JOHN KORNREICH
--------------------------------------
John Kornreich
S/HARVEY SANDLER
--------------------------------------
Harvey Sandler
S/ANDREW SANDLER
--------------------------------------
Andrew Sandler
S/BARRY RUBENSTEIN
--------------------------------------
Barry Rubenstein
S/IRWIN LIEBER
--------------------------------------
Irwin Lieber
S/BARRY FINGERHUT
--------------------------------------
Barry Fingerhut
- 25 of 29 -
<PAGE>
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: S/ EDWARD GRINACOFF
-----------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 26 of 29 -
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act, as
amended, the undersigned hereby agree to the joint filing on behalf of each of
them on a statement on Schedule 13D (including amendments thereto) with respect
to the Common Stock, par value $.01 per share, of International Post Limited and
that this Agreement be included as an Exhibit to such joint filing.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 11th
day of September, 1997. 21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS,
L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN
PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
- 27 of 29 -
<PAGE>
S/MICHAEL J. MAROCCO
--------------------------------------
Michael J. Marocco
S/BARRY LEWIS
--------------------------------------
Barry Lewis
S/JOHN KORNREICH
--------------------------------------
John Kornreich
S/HARVEY SANDLER
--------------------------------------
Harvey Sandler
S/ANDREW SANDLER
--------------------------------------
Andrew Sandler
S/BARRY RUBENSTEIN
--------------------------------------
Barry Rubenstein
S/IRWIN LIEBER
--------------------------------------
Irwin Lieber
S/BARRY FINGERHUT
--------------------------------------
Barry Fingerhut
- 28 of 29 -
<PAGE>
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: S/ EDWARD GRINACOFF
-------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 29 of 29 -
<PAGE>
