<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)
APPLIED MICROSYSTEMS CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
037935103
(CUSIP Number)
ONEX CORPORATION
CANADA TRUST TOWER
161 BAY STREET - 49TH FLOOR
TORONTO, ONTARIO M5J 2S1 CANADA
ATTENTION: EWOUT HEERSINK
(416) 362-7711
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
COPIES TO:
JOEL I. GREENBERG, ESQ.
KAYE, SCHOLER, FIERMAN, HAYS & HANDLER, LLP
425 PARK AVENUE
NEW YORK, NEW YORK 10022
(212) 836-8000
MARCH 17, 1998 - MARCH 27, 1998
(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 this 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 less than five percent of such class.
See Rule 13d-7.)
Page 1 of 7 pages.
<PAGE> 2
13D
- --------------------------------------------------------------------------------
CUSIP No. 037935103 Page 2 of 7 Pages
-----------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Onex Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER
399,460 shares of Common Stock
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
C0
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
13D
- --------------------------------------------------------------------------------
CUSIP No. 037935103 Page 3 of 7 Pages
-----------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vencap, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Alberta, Canada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER
399,460 shares of Common Stock
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
C0
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
13D
- --------------------------------------------------------------------------------
CUSIP No. 037935103 Page 4 of 7 Pages
-----------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gerald W. Schwartz
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER
399,460 shares of Common Stock
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399,460 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
Amendment to Statement on Schedule 13D (the "Statement") relating
to the shares of common stock, par value $.01 per share (the "Common Stock"), of
Applied Microsystems Corporation, a Washington corporation (the "Issuer"), filed
by Vencap, Inc., Onex Corporation and Gerald W. Schwartz. Capitalized terms,
used but not defined herein, shall have the meaning set forth in the Statement.
The Statement is hereby amended as set forth below:
Item 5. Interest in Securities of the Issuer.
(a) and (b). As of the date hereof, Vencap owns 399,460 shares of
Common Stock.
Vencap beneficially owns 399,460 shares of Common Stock,
representing approximately 5.8% of the outstanding shares of Common Stock (based
on the number of shares of Common Stock outstanding as of March 20, 1998). On
January 30, 1998, Vencap transfered 521,360 shares of Common Stock, all of the
shares of Common Stock owned by it, to 1279436 Ontario Inc. ("Ontario Inc."), a
wholly-owned subsidiary. From March 17, 1998 to March 27, 1998, Ontario Inc.
sold 121,900 shares of Common Stock as reported herein. On April 1, 1998,
Ontario Inc. transferred 399,460 shares of Common Stock, all of the shares of
Common Stock then owned by it, to Vencap.
Onex, as the indirect beneficial owner of approximately 90% of the
shares of Vencap, may be deemed to own beneficially 399,460 shares of common
stock, representing approximately 5.8% of the outstanding shares of Common
Stock (based on the number of shares of Common Stock outstanding as of
March 20, 1998). Mr. Schwartz is the Chairman of the Board, President and
Chief Executive Officer of Onex and the indirect holder of all the issued and
outstanding shares of Multiple Voting Shares of Onex, ownership which entitles
Mr. Schwartz to elect sixty percent (60%) of the members of Onex's Board of
Directors, and therefore may also be deemed to own beneficially such shares of
Common Stock.
Page 5 of 7 pages.
<PAGE> 6
(c) During the past sixty (60) days, Ontario Inc. has
disposed of certain of the shares of Common Stock as follows:
<TABLE>
<CAPTION>
Date of Amount of
Transaction Securities Involved Price Per Share How Effected
- ----------- ------------------- --------------- ------------
<S> <C> <C> <C>
3/17/98 47,000 $6.8497 Open Market Sale
3/18/98 6,900 6.75 Open Market Sale
3/25/98 8,000 6.75 Open Market Sale
3/26/98 35,000 6.9821 Open Market Sale
3/27/98 25,000 7.1625 Open Market Sale
</TABLE>
Except as set forth above, no Reporting Person nor, to the best
knowledge of each Reporting Person, any person identified in Item 2,
beneficially owns any shares of Common Stock or has effected any transaction in
shares of Common Stock during the preceding 60 days.
Item 7. Material to Be Filed as Exhibits.
1. Joint Filing Agreement, dated April 24, 1996, among
Vencap, Vencap Holdings, Onex and Mr. Schwartz,
incorporated by reference to the Schedule 13D relating to
the Issuer filed by Vencap, Vencap Holdings, Onex and Mr.
Schwartz, on May 2, 1996.
2. Power of Attorney, incorporated by reference to the
Schedule 13D Amendment relating to the Issuer filed
by Vencap, Onex and Mr. Schwartz on September 13,
1996.
Page 6 of 7 pages.
<PAGE> 7
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I hereby certify that the information set forth in this statement is
true, complete and correct.
Dated: April __, 1998
VENCAP, INC.
By: /s/ Mark Hilson
-----------------------------
Name: Mark Hilson
Title: Authorized Signatory
ONEX CORPORATION
By: /s/ Donald W. Lewtas
-----------------------------
Name: Donald W. Lewtas
Title: Authorized Signatory
/s/ Donald W. Lewtas
-----------------------------
Authorized Signatory for
GERALD W. SCHWARTZ
Page 7 of 7 pages.
