UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
(Rule 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2
(Amendment No. 1)
INTERSTATE NATIONAL DEALER SERVICES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
46102P 10 4
- --------------------------------------------------------------------------------
(CUSIP Number)
STEVEN J. KUMBLE
LINCOLNSHIRE MANAGEMENT, INC.
780 THIRD AVENUE
NEW YORK, NEW YORK 10017
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
MARCH 15, 2000
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [_].
(Continued on following pages)
(Page 1 of 6 Pages)
<PAGE>
SCHEDULE 13D
CUSIP No. 46102P 10 4 Page 2 of 6 Pages
________________________________________________________________________________
NAME OF REPORTING PERSONS Steven J. Kumble
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
________________________________________________________________________________
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
2 (b) [_]
________________________________________________________________________________
SEC USE ONLY
3
________________________________________________________________________________
SOURCE OF FUNDS PF
4
________________________________________________________________________________
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
CITIZENSHIP OR PLACE OF ORGANIZATION United States
6
________________________________________________________________________________
SOLE VOTING POWER 0
7
NUMBER OF
SHARES _________________________________________________________________
SHARED VOTING POWER 0
BENEFICIALLY 8
OWNED BY
_________________________________________________________________
EACH SOLE DISPOSITIVE POWER 0
9
REPORTING
PERSON _________________________________________________________________
SHARED DISPOSITIVE POWER 0
WITH 10
________________________________________________________________________________
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 0
________________________________________________________________________________
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
________________________________________________________________________________
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0%
13
________________________________________________________________________________
TYPE OF REPORTING PERSON IN
14
________________________________________________________________________________
<PAGE>
SCHEDULE 13D
CUSIP No. 46102P 10 4 Page 3 of 6 Pages
________________________________________________________________________________
NAME OF REPORTING PERSONS Lincolnshire Management,
Inc.
1
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
________________________________________________________________________________
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
2 (b) [_]
________________________________________________________________________________
SEC USE ONLY
3
________________________________________________________________________________
SOURCE OF FUNDS N/A
4
________________________________________________________________________________
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
6
________________________________________________________________________________
SOLE VOTING POWER 0
7
NUMBER OF
SHARES _________________________________________________________________
SHARED VOTING POWER 0
BENEFICIALLY 8
OWNED BY
_________________________________________________________________
EACH SOLE DISPOSITIVE POWER 0
9
REPORTING
PERSON _________________________________________________________________
SHARED DISPOSITIVE POWER 0
WITH 10
________________________________________________________________________________
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 0
________________________________________________________________________________
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
________________________________________________________________________________
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0%
13
________________________________________________________________________________
TYPE OF REPORTING PERSON CO
14
________________________________________________________________________________
<PAGE>
SCHEDULE 13D
CUSIP No. 46102P 10 4 Page 4 of 6 Pages
________________________________________________________________________________
NAME OF REPORTING PERSONS Lincolnshire Equity Fund II,
L.P.
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
________________________________________________________________________________
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
2 (b) [_]
________________________________________________________________________________
SEC USE ONLY
3
________________________________________________________________________________
SOURCE OF FUNDS N/A
4
________________________________________________________________________________
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
6
________________________________________________________________________________
SOLE VOTING POWER 0
7
NUMBER OF
SHARES _________________________________________________________________
SHARED VOTING POWER 0
BENEFICIALLY 8
OWNED BY
_________________________________________________________________
EACH SOLE DISPOSITIVE POWER 0
9
REPORTING
PERSON _________________________________________________________________
SHARED DISPOSITIVE POWER 0
WITH 10
________________________________________________________________________________
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 0
________________________________________________________________________________
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
________________________________________________________________________________
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0%
13
________________________________________________________________________________
TYPE OF REPORTING PERSON CO
14
________________________________________________________________________________
<PAGE>
INTRODUCTION
This Amendment No. 1 relates to the Schedule 13D filed on February 23, 2000
by Steven J. Kumble, Lincolnshire Management, Inc. and Lincolnshire Equity Fund
II, L.P. (the "Reporting Persons") with respect to shares of common stock, par
value $.01 per share of Interstate National Dealer Services, Inc. (the
"Company").
Items 4 and 5 of the Schedule 13D are amended and supplemented as follows:
ITEM 4. PURPOSE OF TRANSACTION
On February 16, 2000, Lincolnshire Management, Inc. made an offer to
acquire through an affiliated partnership all of the issued and outstanding
stock of the Company, free and clear of all liens, claims and encumbrances for
$9.00 per share (approximately $45 million) (the "Offer").
On February 17, 2000, the Company acknowledged receipt of the Offer and
indicated that its Board of Directors would consider the Offer.
On February 28, 2000, Chester Luby, the Chairman and CEO of the Company
informed Lincolnshire Management, Inc. that the Board of Directors of the
Company would not give further consideration to the Offer, unless Lincolnshire
Management, Inc. could demonstrate the bona fide nature of its Offer.
Lincolnshire Management, Inc. was unable to engage in any meaningful discussions
with the Company to confirm the bona fide nature of the Offer, despite efforts
to communicate with Mr. Luby, thorough his counsel and otherwise.
On March 15, 2000, Mr. Kumble sold his shares of common stock of the
Company. On March 17, 2000, Lincolnshire Management, Inc. sent a letter to Mr.
Luby indicating that the Offer, which expired at 5:00 p.m. on February 29, 2000
was of no further force or effect and that Lincolnshire Management, Inc. was
abandoning its efforts to pursue a proposed acquisition.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Set forth below is certain information concerning all transactions in the
common stock of the Company in which the Reporting Persons have engaged during
the past 60 days. All of such transactions were effected by brokerage
transactions.
NAME TRANSACTION NUMBER OF NET
DATE SHARES SOLD CONSIDERATION
Steven J. Kumble 03/15/00 30,000 $181,922.88
The ownership by the Reporting Persons of shares of common stock of the
Company and the percentage of the outstanding shares of common stock of the
Company represented thereby is as follows:
NAME NUMBER OF SHARES PERCENTAGE
Steven J. Kumble 0 0.0%
Lincolnshire Management, Inc. 0 0.0%
Lincolnshire Equity Fund II, L.P. 0 0.0%
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 - Letter to the Chairman and CEO of the Company dated March
15, 2000.
<PAGE>
Signatures and Power of Attorney
After reasonable inquiry and to the best of knowledge and belief of each
person or entity set forth below, each such person or entity certifies that the
information set forth in this Statement is true, complete and correct.
March 21, 2000 /s/ Steven J. Kumble
--------------------------------------------
Steven J. Kumble
LINCOLNSHIRE MANAGEMENT, INC.
By: /s/ Steven J. Kumble
-----------------------------------------
Steven J. Kumble
Chairman
LINCOLNSHIRE EQUITY FUND II, L.P.
By: Lincolnshire Equity Partners II, L.P.,
General Partner
By: Lincolnshire Equity II, Inc.,
General Partner
By: /s/ Steven J. Kumble
--------------------------------
Steven J. Kumble
Chairman
<PAGE>
Exhibit 1
[Letterhead of Lincolnshire Management, Inc.]
Mr. Chester J. Luby
Chairman and CEO
Interstate National Dealer Services, Inc.
The Omni, Suite 700
333 Earle Ovington Blvd.
Mitchel Field, NY 11553-9340
Dear Chester:
On February 16, 2000, Lincolnshire Management, Inc. made an offer to
you with respect to all of the outstanding capital stock of Interstate National
Dealer Services, Inc. ("Interstate") at a price of $9 per share. In that letter,
we indicated that our offer should be considered and acted upon by the Board of
Interstate.
On February 17, 2000, you acknowledged receipt of our letter and enclosure,
and you stated that the Board of Interstate would give appropriate consideration
to our proposal, and that you expected to reply to us in the near future. On
February 28, 2000, you responded by stating that your Board would not give
further consideration to our proposal unless we could demonstrate the bona fide
nature of that proposal.
Our offer expired, by its terms, on February 29, 2000. Despite other
efforts to communicate with you, through your counsel and otherwise, to confirm
the bona fide nature of our offer, we have been unable to engage you in any
meaningful discussion. Our offer, which expired by its terms on February 29, is
without force or effect and we are abandoning our efforts to pursue the proposed
acquisition.
We wish you and your stockholders the very best of luck.
Very sincerely,
LINCOLNSHIRE MANAGEMENT, INC.
By: STEVEN J. KUMBLE
----------------
Steven J. Kumble
Cc: Board of Directors
<PAGE>
