<PAGE>
--------------------------------------
FORM 3 OMB APPROVAL
--------------------------------------
OMB Number: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response 0.5
--------------------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
- -------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
Startt Acquisition, Inc. (1)
- -----------------------------------------------------------
(Last) (First) (Middle)
c/o Lawrence Ruben Company, Inc.
600 Madison Avenue, 20th Floor
- -----------------------------------------------------------
(Street)
New York, NY 10022
- -----------------------------------------------------------
(City) (State) (Zip)
- -------------------------------------------------------------------------------
2. Date of Event Requiring Statement (Month/Day/Year)
10/16/97
- -------------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
- -------------------------------------------------------------------------------
4. Issuer Name and Ticker and Trading Symbol
Starrett Corporation (SHO)
- -------------------------------------------------------------------------------
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director
[X] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify below)
--------------------------------------------------
- -------------------------------------------------------------------------------
6. If Amendment, Date of Original (Month/Day/Year)
- -------------------------------------------------------------------------------
7. Individual or Joint/Group Filing
(Check all applicable)
[ ] Form filed by One Reporting Person
[X] Form filed by More than One Reporting Person
- -------------------------------------------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
TABLE I--Non-Derivative Securities Beneficially Owned
- --------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Onwership
(Instr. 4) Beneficially Owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------------------------------
common stock, par value
$1.00 per share 10,900(2) (2) (2)
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
Remainder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one person, see Instruction 5(b)(v).
(Over)
Page 1 of 7 Pages SEC 1473 (9-96)
193479-1.wpd
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of
Security (Instr. 4) cisable and Underlying Derivative Security sion or ship Indirect
Expiration (Instr. 4) Exercise Form of Beneficial
Date ----------------------------------- Price of Deriv- Ownership
(Month/Day/Year) Deriv- ative (Instr. 5)
--------------------- Amount ative Security
of Security Direct
Date Expira- Title Number (D) or
Exer- tion of Indirect
cisable Date Shares (I)
(Instr. 5)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Right to buy (3) (3) (3) common stock, par value 3,317,211 $12.25 (3) (3)
$1.00 per share
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(1) Pursuant to Instruction 5(b)(v), this Form 3 is filed jointly by all of the
undersigned (collectively, the "Reporting Persons"), who may be deemed to be
members of a "group" pursuant to Section 13(d) of the Securities Exchange
Act of 1934, as amended. Startt Acquisition, Inc. ("Purchaser") has been
designated to make the filing of this Form 3.
STARTT ACQUISITION, INC.
By: /s/ Jonathan I. Mayblum October 27, 1997
---------------------------------------- ------------------
Name: Jonathan I. Mayblum Date
Title: President
** Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is sufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2 of 7 Pages SEC 1473 (9-96)
<PAGE>
FORM 3 (CONTINUED)
Name: Startt Acquisition, Inc.
Address: c/o Lawrence Ruben Company, Inc.
600 Madison Avenue, 20th Floor
New York, NY 10022
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Continuation of Footnotes:
(2) The 10,900 shares of common stock of the issuer reported as beneficially
owned are owned beneficially by Richard G. Ruben and Mark Lasry, who share
control of Avenue Investments L.P., which directly owns such shares. The
Reporting Persons other than Messrs. Ruben and Lasry disclaim beneficial
ownership of such shares, and this report shall not be deemed an admission that
such Reporting Persons are the beneficial owners of such securities for
purposes of Section 16 or any other purpose.
(3) The derivative securities reported herein represent the rights of Purchaser
under the Shareholders Agreement dated October 16, 1997 among certain principal
shareholders of the issuer (the "Principal Shareholders"), Purchaser and
Purchaser's Parent pursuant to which the Principal Shareholders have agreed,
subject to certain exceptions, to validly tender (and not withdraw), pursuant
to the terms of a cash tender offer commenced by Purchaser, the shares of
common stock of the issuer owned by them. The Reporting Persons disclaim
beneficial ownership of such shares, and this report shall not be deemed an
admission that the Reporting Persons are the beneficial owners of such
securities for purposes of Section 16 or any other purpose.
Page 3 of 7 Pages
<PAGE>
FORM 3 (CONTINUED)
Joint Filer Information
Name: Startt Acquisition, LLC
Address: c/o Lawrence Ruben Company, Inc.
600 Madison Avenue, 20th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: STARTT ACQUISITION, LLC
By: /s/ Jonathan I. Mayblum
--------------------------
Name: Jonathan I. Mayblum
Title: President
Name: LR Startt, LLC
Address: c/o Lawrence Ruben Company, Inc.
600 Madison Avenue, 20th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: LR STARTT, LLC
By: /s/ Jonathan I. Mayblum
--------------------------
Name: Jonathan I. Mayblum
Title: Authorized Signatory
Name: Richard G. Ruben
Address: c/o Lawrence Ruben Company, Inc.
600 Madison Avenue, 20th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: /s/ Richard G. Ruben
----------------------
Richard G. Ruben
Page 4 of 7 Pages
<PAGE>
FORM 3 (CONTINUED)
Name: AV Startt, LLC
Address: c/o Argent Ventures, LLC
335 Madison Avenue, 26th Floor
New York, NY 10017
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: AV STARTT, LLC
By: /s/ Andrew Penson
----------------------
Name: Andrew Penson
Title: Authorized Signatory
Name: Andrew Penson
Address: c/o Argent Ventures, LLC
335 Madison Avenue, 26th Floor
New York, NY 10017
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: /s/ Andrew Penson
----------------------
Andrew Penson
Name: AM Startt, LLC
Address: c/o Amroc Investments, Inc.
335 Madison Avenue
New York, NY 10017
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: AM STARTT, LLC
By: /s/ Mark Lasry
----------------------
Name: Mark Lasry
Title: Authorized Signatory
Page 5 of 7 Pages
<PAGE>
FORM 3 (CONTINUED)
Name: Mark Lasry
Address: c/o Amroc Investments, Inc.
335 Madison Avenue
New York, NY 10017
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: /s/ Mark Lasry
----------------------
Mark Lasry
Name: BA Startt, LLC
Address: c/o Blackacre Capital Group, L.P.
450 Park Avenue, 28th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: BA STARTT, LLC
By Blackacre Capital Group, L.P., Managing Member
By Blackacre Capital Management Corp.,
General Partner
By: /s/ Jeffrey B. Citrin
------------------------
Name: Jeffrey B. Citrin
Title: President
Name: Blackacre Capital Group, L.P.
Address: 450 Park Avenue, 28th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: BLACKACRE CAPITAL GROUP, L.P., Managing Member
By Blackacre Capital Management Corp.,
General Partner
By: /s/ Jeffrey B. Citrin
------------------------
Name: Jeffrey B. Citrin
Title: President
Page 6 of 7 Pages
<PAGE>
Name: Blackacre Capital Management Corp.
Address: c/o Blackacre Capital Group, L.P.
450 Park Avenue, 28th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: BLACKACRE CAPITAL MANAGEMENT CORP.
By: /s/ Jeffrey B. Citrin
------------------------
Name: Jeffrey B. Citrin
Title: President
Name: Jeffrey B. Citrin
Address: c/o Blackacre Capital Group, L.P.
450 Park Avenue, 28th Floor
New York, NY 10022
Designated Filer: Startt Acquisition, Inc.
Date of Event Requiring Statement: 10/16/97
Issuer and Ticker or Trading Symbol: Starrett Corporation (SHO)
Signature: /s/ Jeffrey B. Citrin
----------------------
Jeffrey B. Citrin
Page 7 of 7 Pages
