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OMB APPROVAL
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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. 1)
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)
May 22, 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 9 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 275,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
275,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
275,000
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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)
2.0
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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.
<PAGE>
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SCHEDULE 13D
CUSIP No. 743663304 Page 3 of 9 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 100,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
100,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
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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)
.7
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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.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 743663304 Page 4 of 9 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 375,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
375,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
375,000
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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)
2.7
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14 TYPE OF REPORTING PERSON*
OO and 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.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 743663304 Page 5 of 9 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 -0-
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 375,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
375,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
375,000
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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)
2.7
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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.
<PAGE>
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SCHEDULE 13D
CUSIP No. 743663304 Page 6 of 9 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.
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
JCM Funds Under Management (1) 3,624,426.60
JILP Working Capital 2,495,075.00
JIPLP Working Capital 1,129,351.60
(1) Included funds invested by JILP and JIPLP.<PAGE>
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SCHEDULE 13D
CUSIP No. 743663304 Page 7 of 9 Pages
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the sales of the Stock reported herein was and is for
investment. The reporting persons may buy or sell Stock in the future.
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
JILP 275,000 2.0 0 275,000 0 275,000
JIPLP 100,000 .7 0 100,000 0 100,000
McCarthy 375,000 2.7 0 375,000 0 375,000
JCM 375,000 2.7 0 375,000 0 375,000
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 March 21, 1997:
Purchase Number Price
Name or Sale Date of Shares Per Share
JILP S 04/02/97 31,500 9.802
JIPLP B 04/30/97 6,000 10.313
JILP S 05/06/97 9,000 10.538
JILP S 05/12/97 10,000 10.813
JILP S 05/19/97 49,500 10.063
JILP S 05/19/97 10,030 10.000
JIPLP S 05/22/97 11,800 11.438
JIPLP S 05/29/97 4,500 12.438
JIPLP S 06/02/97 25,500 12.375
JILP S 06/03/97 2,000 12.875
JILP S 06/09/97 3,000 13.063
JILP S 06/12/97 25,000 13.050
JILP S 06/19/97 17,300 13.035
JILP S 06/20/97 2,500 13.313
JILP S 06/23/97 49,100 13.602
JILP S 06/23/97 3,000 13.584
JILP S 06/24/97 1,500 13.750
JILP S 06/25/97 3,000 13.542
JILP S 06/27/97 2,500 13.375
JILP S 07/01/97 5,000 13.875
JILP S 07/02/97 5,000 14.125
JILP S 07/07/97 5,000 14.125
JILP S 07/08/97 21,300 14.000
JILP S 07/09/97 20,000 14.000
JILP S 07/15/97 15,000 14.500
JILP S 07/16/97 25,000 14.125
JILP S 07/17/97 50,000 14.125
JIPLP P 07/17/97 50,000 14.125
<PAGE>
SCHEDULE 13D
CUSIP No. 743663304 Page 8 of 9 Pages
Purchase Number Price
Name or Sale Date of Shares Per Share
JILP S 07/18/97 15,000 13.750
JIPLP P 07/18/97 15,000 13.750
JIPLP S 07/25/97 15,000 14.667
All transactions were executed through the Nasdaq National Market System.
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: July 25, 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
<PAGE>
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SCHEDULE 13D
CUSIP No. 743663304 Page 9 of 9 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
