UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
TRIAD PARK, LLC
---------------
(Name of Issuer)
Membership Interests, no par value
----------------------------------
(Title of Class of Securities)
895814101
---------
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
-------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 26, 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 [ ].
*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).
Page 1 of 14
CUSIP NO. 895814101 SCHEDULE 13D Page 2 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 3 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 4 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER 14,000**
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 14,000**
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,012,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.2%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 5 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON TPL ACQUISITION, LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (limited liability company)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 6 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON PELL DEVELOPMENT COMPANY
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (sole proprietorship)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 7 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON JOSEPH PELL
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 8 of 14
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON EDA PELL
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,998,158**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,998,158**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,998,158**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 895814101 SCHEDULE 13D Page 9 of 14
This Amendment No. 8 to Schedule 13D amends the Statement on Schedule 13D (the
"Schedule 13D") filed with the Securities and Exchange Commission on March 26,
1998 by Richard C. Blum & Associates, L.P. and its affiliates (along with TPL
Acquisition, LLC, the "Blum Reporting Persons"), and Pell Development Company,
Joseph Pell and Eda Pell (the "Pell Reporting Persons"). This Amendment No. 8
is filed with respect to the Limited Liability Company Membership Interests
("the Interests"), no par value, of Triad Park, LLC, ("the Company"). The
principal executive office and mailing address of the Company is 3055 Triad
Drive, Livermore, California 94550. Unless otherwise defined herein, all
capitalized terms shall have the meanings ascribed to them in the Schedule
13D. The Blum Reporting Persons and the Pell Reporting Persons are
collectively referred to herein as the "Reporting Persons". The following
amendments to Items 3 and 6 of the Schedule 13D are provided in response to an
order from the United States District Court for the Northern District of
California entered on March 26, 1998 requiring certain disclosures on March
27, 1998. Unless otherwise defined herein, all capitalized terms shall have
the meanings ascribed to them in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
- ----------------------------------------------------------
Item 3 of the Schedule 13D is hereby amended to add the following information:
Pursuant to the court's order, Reporting Persons issued a press release dated
March 26, 1998 (Exhibit B) that provides a summary of each loan agreement and
any plans or arrangements to finance the Triad transaction. The court also
requested copies of all written agreements, contracts, arrangements,
understandings, plans or proposals relating to the borrowing of funds to
finance the acquisition as previously disclosed in the Schedule 13D. There
are no such documents because TPL is not borrowing any funds to finance the
acquisition, and has received from its investors all funds necessary to
consummate the acquisition. As stated previously in the 13D, the funds have
been deposited in an escrow account at Bank of America as of today. Reference
is made to the press release attached as Exhibit B to this Schedule 13D
Amendment No. 8.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
- ------------------------------------------------------------------------------
Item 6 of the Schedule 13D is hereby amended to add the following information:
In the press release described in Item 3 above, the Reporting Persons
disclose, solely for the purpose of addressing the issues raised by TKG and
without setting any precedent for the future, additional information
concerning certain understandings the investors of TPL have with respect to
the securities of TPL. Reference is made to the press release attached as
Exhibit B to this Schedule 13D Amendment No. 8.
CUSIP NO. 895814101 SCHEDULE 13D Page 10 of 14
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Item Description
- ---- -----------
Exhibit A Joint Filing Undertaking.
Exhibit B Press Release dated March 26, 1998
CUSIP NO. 895814101 SCHEDULE 13D Page 11 of 14
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: March 27, 1998
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- ---------------------------------
Murray A. Indick Murray A. Indick
Managing Director Managing Director, General Counsel
and General Counsel and Secretary
TPL ACQUISITION, LLC /s/ Murray A. Indick
By: Richard C. Blum & Associates, L.P. -------------------------------------
Its Managing Member RICHARD C. BLUM
By: Richard C. Blum & Associates, By Murray A. Indick, Attorney-in-Fact
Inc., its sole general partner
By: /s/ Murray A. Indick
-------------------------
Murray A. Indick
Managing Director
and General Counsel
PELL DEVELOPMENT COMPANY
By /s/ Joseph Pell /s/ Joseph Pell
------------------------------- -----------------------------------
Joseph Pell JOSEPH PELL
Owner
/s/ Eda Pell
--------------------------------------
EDA PELL
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 12 of 14
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: March 27, 1998
RICHARD C. BLUM & ASSOCIATES, L.P. RICHARD C. BLUM & ASSOCIATES, INC.
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- ---------------------------------
Murray A. Indick Murray A. Indick
Managing Director Managing Director, General Counsel
and General Counsel and Secretary
TPL ACQUISITION, LLC /s/ Murray A. Indick
By: Richard C. Blum & Associates, L.P. -------------------------------------
Its Managing Member RICHARD C. BLUM
By: Richard C. Blum & Associates, By Murray A. Indick, Attorney-in-Fact
Inc., its sole general partner
By: /s/ Murray A. Indick
-------------------------
Murray A. Indick
Managing Director
and General Counsel
PELL DEVELOPMENT COMPANY
By /s/ Joseph Pell /s/ Joseph Pell
------------------------------- -----------------------------------
Joseph Pell JOSEPH PELL
Owner
/s/ Eda Pell
--------------------------------------
EDA PELL
CUSIP NO. 72813P-10-0 SCHEDULE 13D Page 13 of 14
Exhibit B
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133-4625
fax: (415) 434-3130
telephone: (415) 434-1111
News From: Richard C. Blum & Associates, L.P. PRIVATE
Contact: Rick Mariano, 415/434-1111
RICHARD C. BLUM & ASSOCIATES SUPPLIES ADDITIONAL INFORMATION CONCERNING OFFER
TO ACQUIRE SHARES OF TRIAD PARK, LLC
SAN FRANCISCO, Calif., March 26, 1998 -- Last week, arising out of a bidding
contest for Triad Park, LLC ("Triad Park"), Richard C. Blum & Associates, L.P.
("RCBA") and certain of its affiliates were sued in the United States District
Court for the Northern District of California by The Kontrabecki Group, Inc.
("TKG"). TKG asked the court to stop RCBA from proceeding with its then-
proposed merger transaction with Triad Park pending certain disclosures that
TKG asserted were required under the federal securities laws. RCBA argued
that TKG's requests should be denied because, among other reasons, all
required disclosures had been made.
Earlier this afternoon, RCBA withdrew its offer to proceed by merger and
announced its intention to commence a cash tender offer, through TPL
Acquisition, LLC, to buy all of the shares of Triad Park that it does not own
or control for $1.74 per share. The total cash consideration under the tender
offer will be $30,790,979, and those funds are now held in escrow by RCBA.
Before RCBA was able to advise the court of the tender offer and the effect of
the new transaction on TKG's request, the court issued its decision.
The court granted certain requests made by TKG and denied others. TKG's
request that the court order RCBA to stop all efforts to advance any merger
offers was denied, as was TKG's request that RCBA be ordered to amend its
filing under Section 13(e) of the Securities Exchange Act. The court also
rejected TKG's request that RCBA be ordered to withdraw all merger offers to
Triad. And the court rejected a request that TKG be allowed to conduct
expedited discovery.
The court did order RCBA to supplement its disclosure in Schedule 13D by
Friday, March 27, 1998 with: "(1) a summary of each loan agreement and any
plans or arrangements to finance the Triad transaction; and (2) a description
of any contracts, arrangements, or understandings with any person regarding
any of the securities of Triad." The court also told RCBA to file a true and
complete Schedule 13D including this information and, in addition, "copies of
all written agreements, contracts, arrangements, understandings, plans or
proposals relating to: (1) the borrowing of funds to finance the acquisition
as disclosed in Item 3 [of Schedule 13D]."
While RCBA respectfully disagrees that its prior securities filings did not
adequately address each of the three issues identified by the court, RCBA
CUSIP NO. 895814101 SCHEDULE 13D Page 14 of 14
wishes to comply in full with respect to each of the issues identified in the
court order, in light of the fact that the transaction will now take the form
of a tender offer.
Summary of each loan agreement and any plans or arrangements to finance the
Triad transaction. TPL Acquisition, LLC will be the acquisition vehicle for
the tender offer RCBA has announced. TPL will pay $1.74 per share for the
Triad Park shares tendered in the tender offer using funds provided by RCBA,
Pell Development Co., and the other investors in the transaction previously
disclosed in Schedule 13D. TPL will not be borrowing any monies or entering
into any loan agreement to finance the acquisition of the Triad Park shares,
and thus TPL has no plans or arrangements to finance the acquisition of shares
from the Triad shareholders. All funds necessary to consummate the tender
offer -- that is, $30,790,979 -- are now held in escrow by RCBA.
A description of any contracts, arrangements, or understandings with any
person regarding any of the securities of Triad. RCBA's securities filings
previously stated, and it is hereby confirmed, that there are no contracts,
arrangements, or understandings with any person regarding any of the
securities of Triad. RCBA further stated previously, in response to an
argument made by TKG, that the investors in TPL have certain understandings
with respect to the securities of TPL (not Triad). RCBA hereby provides
additional information concerning the understandings with respect to the
securities of TPL, even though that does not appear to be required by the
court: (a) each of the investors in TPL sent a letter to RCBA confirming his,
her or its capital commitment for the transaction, and each of them has in
fact funded the capital commitment by placing good funds in escrow, (b) each
of the investors will eventually become a party to an operating agreement for
TPL, and (c) there will be two managing members of TPL -- RCBA and Pell -- who
have entered into an agreement that provides for Pell to become a managing
member of TPL (after TPL acquires Triad) and addresses certain organizational
and expense matters until TPL acquires Triad.
Copies of all written agreements, contracts, arrangements, understandings,
plans or proposals relating to: (1) the borrowing of funds to finance the
acquisition as disclosed in Item 3 [of Schedule 13D]. There are no such
documents because, as described above, TPL is not borrowing any funds to
finance the acquisition, and has received from its investors all funds
necessary to consummate the acquisition.
RCBA's dissemination of the foregoing information. Pursuant to the court's
order, RCBA will be filing the foregoing information in the form of an
additional Schedule 13D amendment, which will be delivered to the Securities &
Exchange Commission via its EDGAR electronic filing procedures, thereby making
the filing immediately available on the internet at the SEC's website.
Pursuant to the court's order, RCBA will also make copies of this press
release available to all Triad Park shareholders who attend the March 28
meeting.
Richard C. Blum & Associates is a merchant banking and equity investment
management firm headquartered in San Francisco, California. Since its
founding in 1975, RCBA has maintained a long-term investment philosophy of
acquiring strategic blocks or making control investments in companies. RCBA
manages investments directly and through partnerships for a select group of
endowments, pension funds, financial institutions, and high net worth
individuals.
