<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Mitcham Industries, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
606501 104
-------------------------------------------
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
February 17, 1998
Page 1 of 12 Pages
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SCHEDULE 13G
CUSIP No. 606501 104 Page 2 of 12 Pages
<TABLE>
===============================================================================================
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Billy F. Mitcham, Jr.
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas, U.S.A.
- -----------------------------------------------------------------------------------------------
SOLE VOTING POWER
5
Number of 666,062(1)
Shares -----------------------------------------------------------------
Beneficially
Owned By 6 SHARED VOTING POWER
Each
Reporting N/A
Person -----------------------------------------------------------------
With
7 SOLE DISPOSITIVE POWER
255,000
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
N/A
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
666,062(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.0%
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12 TYPE OF REPORTING PERSON(SEE INSTRUCTIONS)
IN
===============================================================================================
</TABLE>
- ----------
(1) See Statement 1 attached.
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Page 3 of 12
SCHEDULE 13G
Item 1(a). Name of Issuer:
Mitcham Industries, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
P. O. Box 1175
44000 Highway 75 South
Huntsville, Texas 77342
Item 2(a). Name of Person Filing:
Billy F. Mitcham, Jr.
Item 2(b). Address of Principal Business Office or if none, Residence:
P. O. Box 1175
44000 Highway 75 South
Huntsville, Texas 77342
Item 2(c). Citizenship:
Texas
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
606501 104
Item 3. Not Applicable. This statement is not filed pursuant to Rules
13d-1(b) or 13d-2(b).
Item 4. Ownership:
(a) Amount Beneficially Owned: 666,062 Shares
(b) Percent of Class: 7.0%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 666,062
(ii) shared power to vote or to direct the vote:
NONE
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Page 4 of 12
(iii) sole power to dispose of or to direct the disposition
of: 255,000
(iv) shared power to dispose of or to direct the disposition
of: NONE
Item 5. Ownership of 5% or Less of a Class:
See Statement 2 attached.
Item 6. Ownership of More than 5% on Behalf of Another Person:
Other than as set forth on Statement 1, no person other than the person
filing this statement has an economic interest in the securities reported on
which relates to more than 5% of the class of securities.
Item 7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on By the Parent Holding Company:
Not Applicable.
Item 8. Identification and Classification of Members of the Group:
See Statement 2 attached.
Item 9. Notice of Dissolution of Group:
See Statement 2 attached.
Item 10. Certification:
By signing below I certify that to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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Page 5 of 12
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.
/s/ Billy F. Mitcham, Jr.
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Billy F. Mitcham, Jr.
February 17, 1998
<PAGE> 6
SCHEDULE 13G
CUSIP No. 606501 104 Page 6 of 12 Pages
<TABLE>
===============================================================================================
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Billy F. Mitcham, Sr.
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas, U.S.A.
- -----------------------------------------------------------------------------------------------
SOLE VOTING POWER
5
Number of NONE(1)
Shares -----------------------------------------------------------------
Beneficially
Owned By 6 SHARED VOTING POWER
Each
Reporting -----------------------------------------------------------------
Person
With 7 SOLE DISPOSITIVE POWER
170,790
- -----------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
N/A
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,790
- -----------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.8%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
===============================================================================================
</TABLE>
- ----------
(1) See Statement 1 attached.
<PAGE> 7
Page 7 of 12
SCHEDULE 13G
Item 1(a). Name of Issuer:
Mitcham Industries, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
P. O. Box 1175
44000 Highway 75 South
Huntsville, Texas 77342
Item 2(a). Name of Person Filing:
Billy F. Mitcham, Sr.
Item 2(b). Address of Principal Business Office or if none, Residence:
P. O. Box 1725
Huntsville, Texas 77342
Item 2(c). Citizenship:
Texas
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
606501 104
Item 3. Not Applicable. This statement is not filed pursuant to Rules
13d-1(b) or 13d-2(b).
Item 4. Ownership:
(a) Amount Beneficially Owned: 170,790 Shares
(b) Percent of Class: 1.8%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: NONE
(ii) shared power to vote or to direct the vote: NONE
<PAGE> 8
Page 8 of 12
(iii) sole power to dispose of or to direct the disposition of:
170,790
(iv) shared power to dispose of or to direct the disposition of:
NONE
Item 5. Ownership of 5% or Less of a Class:
See Statement 2 attached.
Item 6. Ownership of More than 5% on Behalf of Another Person:
No person other than the person filing this statement has an economic
interest in the securities reported on which relates to more than 5% of the
class of securities.
Item 7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on By the Parent Holding Company:
Not Applicable.
Item 8. Identification and Classification of Members of the Group:
See Statement 2 attached.
Item 9. Notice of Dissolution of Group:
See Statement 2 attached.
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Page 9 of 12
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.
/s/ Billy F. Mitcham, Sr.
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Billy F. Mitcham, Sr.
February 17, 1998
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Page 10 of 12
STATEMENT 1
TO AMENDMENT NO. 3
TO SCHEDULE 13G
OF BILLY F. MITCHAM, JR.
AND BILLY F. MITCHAM, SR.
The number of shares with respect to which the named reporting person
has sole voting power (666,062) includes 255,000 shares which he beneficially
owns and an aggregate of 269,490 shares of the indicated class of equity
securities owned by Billy F. Mitcham, Sr. (125,040 shares), Paul C. Mitcham
(89,930 shares) and two trusts established for the benefit of the named
reporting person's sons (54,520 shares), as to which the named reporting person
has the right to vote under a Voting Agreement.
Also included in the total number of shares to which the named
reporting person has sole voting power when acquired is an aggregate of 141,572
shares underlying currently exercisable options and warrants, as follows: Billy
F. Mitcham, Jr. (38,880 shares), Billy F. Mitcham, Sr. (45,750 shares), Paul C.
Mitcham (39,500 shares) and the two trusts (17,442 shares each). All shares
underlying the above-described options and warrants granted to persons other
than Billy F. Mitcham, Jr. will, when issued, be subject to the above-described
Voting Agreement.
<PAGE> 11
Page 11 of 12
STATEMENT 2
TO AMENDMENT NO. 3 TO
SCHEDULE 13G
OF BILLY F. MITCHAM, JR.
AND BILLY F. MITCHAM, SR.
Because Billy F. Mitcham, Sr. no longer beneficially owned 5% of the
Company's common stock as of December 31, 1997, this Amendment No. 3 is his
final report under Section 13(g) and Rule 13d-2(b), and also constitutes notice
of the dissolution of the group formerly consisting of Mr. Mitcham, Sr. and
Billy F. Mitcham, Jr. All further filings with respect to transactions in the
security reported on will be filed, if required, by Billy F. Mitcham, Jr. in his
individual capacity.
<PAGE> 12
Page 12 of 12
AGREEMENT
This Agreement (the "Agreement") is by and between Billy F. Mitcham,
Jr. and Billy F. Mitcham, Sr. (collectively, the "Reporting Persons"), which
parties agree as follows:
Pursuant to the provisions of Reg. 13d-1(f)(1), the Reporting Persons
do hereby agree that this Schedule 13G (the "Schedule") is filed on behalf of
each of them and acknowledge that (i) the Schedule contains the information
required by Reg. 13d-1 for each of them; and (ii) each of them is responsible
for the timely filing of the Schedule and any required amendments thereto.
/s/ Billy F. Mitcham, Jr.
----------------------------------
Billy F. Mitcham, Jr.
/s/ Billy F. Mitcham, Sr.
----------------------------------
Billy F. Mitcham, Sr.
