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OMB APPROVAL
OMB Number:3235-0145
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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. *)
Protection One, Inc.
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
743663304
(CUSIP Number)
Eric M. Sippel, Esq.
Shartsis Friese & Ginsburg LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 12, 1997
(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 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.)
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).
SEC 1746 (12-91)
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SCHEDULE 13D
CUSIP No. 743663304 Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk Investments, L.P.
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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*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 629,730
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
629,730
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
629,730
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6
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14 TYPE OF REPORTING PERSON*
PN
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*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.
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SCHEDULE 13D
CUSIP No. 743663304 Page 3 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk Institutional Partners, L.P.
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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*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 83,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
83,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6
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14 TYPE OF REPORTING PERSON*
PN
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*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.
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SCHEDULE 13D
CUSIP No. 743663304 Page 4 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk 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
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 713,030
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
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10 SHARED DISPOSITIVE POWER
713,030
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
713,030
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2
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14 TYPE OF REPORTING PERSON*
IA
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*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.
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SCHEDULE 13D
CUSIP No. 743663304 Page 5 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Kent C. McCarthy
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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 and PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 13,600
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 713,030
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 13,600
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10 SHARED DISPOSITIVE POWER
713,030
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
726,630
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3
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14 TYPE OF REPORTING PERSON*
IN
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*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.
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SCHEDULE 13D
CUSIP No. 743663304 Page 6 of 10 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of Protection
One, Inc. ("Protection"). The principal executive office of Protection is
located at 6011 Bristol Parkway, Culver City, CA 90230
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) The persons filing this statement are Jayhawk Investments, L.P.
("JILP"), Kent McCarthy ("McCarthy"), Jayhawk Institutional Partners, L.P.
("JIPLP") and Jayhawk Capital Management, L.L.C. ("JCM"). JILP, JIPLP and
JCM are organized in Delaware.
(b) The address for the principal office and principal business of
JILP, McCarthy, JIPLP and JCM is 8201 Mission Road, Suite 110, Prairie
Village, KS 66208.
(c) McCarthy is the manager of JCM which serves as the investment
adviser to and general partner of both JIPLP and JILP, investment limited
partnerships.
(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 has been 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) McCarthy is a citizen of the United States.
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SCHEDULE 13D
CUSIP No. 743663304 Page 7 of 10 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
JILP Working Capital 6,380,417.57
JIPLP Working Capital 808,356.01
McCarthy Personal Funds 199,023.92
ITEM 4. PURPOSE OF TRANSACTION.
The principal purpose of the acquisition of the Stock is investment. The
persons named in Item 2 of this statement have no plans or proposals that
relate to or would result in:
(a) The acquisition by any person of additional securities of
Protection, or the disposition of securities of Protection;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving Protection or any of its
subsidiaries;
(c) A sale or transfer of a material amount of assets of Protection or
of any of its subsidiaries;
(d) Any change in the present board of directors or management of
Protection, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend
policy of Protection;
(f) Any other material change in Protection's business or corporate
structure;
(g) Changes in Protection's charter, by-laws or instruments
corresponding thereto or other actions which may impede the acquisition of
control of Protection by any person;
(h) Causing a class of securities of Protection to be delisted from a
national securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of Protection becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
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SCHEDULE 13D
CUSIP No. 743663304 Page 8 of 10 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the person 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
McCarthy 726,630 5.3 13,600 713,030 13,600 713,030
JILP 629,730 4.6 0 629,730 0 629,730
JIPLP 83,300 .6 0 83,300 0 83,300
JCM 713,030 5.2 0 713,030 0 713,030
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 December 14, 1996:
Purchase Number Price Broker
Name or Sale Date of Shares Per Share Used
JILP S 12/17/96 5,500 9.375 HERZOG
JILP S 12/17/96 2,500 9.125 INSTINET
JILP S 12/18/96 5,000 10.125 INSTINET
JILP S 12/18/96 7,500 10.117 MAGNA
JILP S 12/19/96 6,000 10.177 INSTINET
JIPLP S 12/20/96 5,000 10.125 MAGNA
JIPLP S 12/27/96 6,000 9.250 MAGNA
MCCARTHY P 12/31/96 10,200 9.993 INSTINET
MCCARTHY S 1/14/97 500 9.500 INSTINET
MCCARTHY S 1/14/97 1,000 9.500 MONT
MCCARTHY S 2/3/97 1,000 8.438 INSTINET
MCCARTHY S 2/6/97 3,500 7.918 INSTINET
JILP P 2/7/97 40,000 7.750 MORGAN
JIPLP P 2/7/97 5,700 7.688 INSTINET
MCCARTHY P 2/10/97 9,400 8.125 INSTINET
MCCARTHY P 2/11/97 10,000 8.375 ROBERTSON
JILP P 2/11/97 10,000 8.375 ROBERTSON
JIPLP P 2/12/97 30,000 8.00 MORGAN
JILP P 2/12/97 45,000 8.000 MORGAN
MCCARTHY S 2/13/97 5,000 9.750 INSTINET
MAGNA - Magna Securities Corp.
INSTINET - Instinet Corporation
MORGAN - Morgan Stanley & Co., Incorporated
HERZOG - Herzog, Meine, Geduld, Inc.
ROBERTSON - Robertson, Stephens & Company LLC
MONT - Montgomery Securities
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SCHEDULE 13D
CUSIP No. 743663304 Page 9 of 10 Pages
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
JCM serves as general partner to both JILP and JIPLP pursuant to limited
partnership agreements which provide JCM with the authority to purchase, vote
and dispose of securities for JILP and JIPLP. JCM is entitled to fees based
on assets under management and special profit allocations based on realized
and unrealized gains and losses, if certain conditions are met.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G.
SIGNATURES
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.
DATED: February 20, 1997.
Jayhawk Capital Management, L.L.C. Jayhawk Investments, L.P.
By: /s/ Kent C. McCarthy By: Jayhawk Capital Management,
Kent C. McCarthy, Manager L.L.C.
By: /s/Kent C. McCarthy
Kent C. McCarthy
/s/Kent C. McCarthy Manager
Kent C. McCarthy
Jayhawk Institutional Partners,
L.P.
By: Jayhawk Capital Management,
L.L.C.
By: /s/Kent C. McCarthy
Kent C. McCarthy
Manager
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SCHEDULE 13D
CUSIP No. 743663304 Page 10 of 10 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 Protection One, Inc. For that purpose,
the undersigned hereby constitute and appoint Jayhawk Capital Management,
L.L.C., a Delaware limited liability company, 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 20, 1997.
Jayhawk Capital Management, L.L.C. Jayhawk Investments, L.P.
By: /s/Kent C. McCarthy By: Jayhawk Capital Management,
Kent C. McCarthy, Manager L.L.C.
By: /s/Kent C. McCarthy
Kent C. McCarthy
/s/Kent C. McCarthy Manager
Kent C. McCarthy
Jayhawk Institutional Partners,
L.P.
By: Jayhawk Capital Management,
L.L.C.
By: /s/Kent C. McCarthy
Kent C. McCarthy
Manager
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