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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Esprit Telecom Group plc
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(Name of Issuer)
Ordinary Shares, nominal value (pound)0.01 each
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(Title of Class of Securities)
29665W104
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(CUSIP Number of Class of Securities)
Stephen Distler
E.M. Warburg, Pincus & Co., LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
William N. Dye
Willkie Farr & Gallagher
35 Wilson Street
London EC2M 2SJ
England
(011) 44-171-696-9060
November 23, 1998
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(Date of Event which Requires Filing of this Schedule)
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(b)(3) or (4), check the following: [ ]
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SCHEDULE 13D
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CUSIP No. 29665W104 Page 2 of 8 Pages
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- ---- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Ventures, L.P. I.D. #13-3784037
- ---- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a) [ ]
(b) [X]
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3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS * OO
- ---- --------------------------------------------------------------------------
5 CHECK 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 Ordinary Shares
------- ------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 15,442,150 Ordinary Shares
OWNED BY ------- ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0 Ordinary Shares
------- -----------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,442,150 Ordinary Shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
15,442,150 Ordinary Shares
- ---- --------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES * [ ]
- ---- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.3%
- ---- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON * PN
- ---- --------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7`
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 29665W104 Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co. I.D. #13-6358475
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a) [ ]
(b) [X]
- ---- --------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
- ---- --------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION New York
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 Ordinary Shares
------- ------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 15,442,150 Ordinary Shares
OWNED BY ------- ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0 Ordinary Shares
------- -----------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,442,150 Ordinary Shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
15,442,150 Ordinary Shares
- ---- --------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES * [ ]
- ---- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.3%
- ---- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON * PN
- ---- --------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7`
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 29665W104 Page 4 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC I.D. #13-3536050
- ---- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a) [ ]
(b) [X]
- ---- --------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
- ---- --------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION New York
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 Ordinary Shares
------- ------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 15,442,150 Ordinary Shares
OWNED BY ------- ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0 Ordinary Shares
------- -----------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,442,150 Ordinary Shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
15,442,150 Ordinary Shares
- ---- --------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES * [ ]
- ---- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.3%
- ---- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON * 00
- ---- --------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7`
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 3 amends the statement on Schedule 13D filed with the
Securities and Exchange Commission on October 22, 1998 (the "Initial Filing"),
as amended by Amendment No. 1 to the Schedule 13D filed with the Securities and
Exchange Commission on November 2, 1998 and Amendment No. 2 to the Schedule 13D
filed with the Securities and Exchange Commission on November 12, 1998
(collectively with the Initial Filing, the "Schedule 13D") on behalf of
Warburg, Pincus Ventures, L.P., a Delaware limited partnership ("Ventures"),
Warburg, Pincus & Co., a New York general partnership ("WP"), and E.M. Warburg,
Pincus & Co., LLC, a New York limited liability company ("EMW"), relating to the
Ordinary Shares, nominal value (pound)0.01 each (the "Ordinary Shares"), of
Esprit Telecom Group plc, a public limited company organized under the laws of
England and Wales, whose principal executive office is located at Minerva House,
Valpy Street, Reading, RG1 1AR, United Kingdom.
This statement is being filed by the Reporting Entities (as defined in the
Initial Filing). There has been no change in the number of Ordinary Shares held
by the Reporting Entities since the date of the Initial Filing and, other than
as set forth herein, there has been no material change in the information set
forth in the Schedule 13D. The Schedule 13D is supplementally amended as set
forth herein.
Item 2. Identity and Background.
Item 2(a) of the Schedule 13D is hereby amended to add the following:
The Reporting Entities believe that they and Apax (as defined in the
Initial Filing) no longer may be deemed to constitute a "group" within the
meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Schedule 13D is hereby amended to add the following:
The Reporting Entities believe that they and Apax no longer may be deemed to
constitute a "group" within the meaning of Section 13(d) of the Exchange Act.
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Item 4. Purpose of Transaction.
Item 4 of the Schedule 13D is hereby amended to add the following:
Extraordinary General Meeting
-----------------------------
On November 23, 1998, the Company held an extraordinary general meeting of
its shareholders (the "EGM"). At the EGM (a) a resolution proposed by Ventures
and Apax Funds Nominees Limited providing for the removal of Mr. Walter Anderson
as a Director of the Company was passed and (b) the resolutions proposed by Mr.
Anderson and Gold & Appel Transfer, S.A. providing for the removal of (i) David
Oertle as Director and Chief Executive Officer of the Company; (ii) John
McMonigall and Dominic Shorthouse as Directors of the Company; and (iii) Sir
Robin Biggam as Director and Chairman of the Company were defeated. Ventures and
Apax Funds Nominees Limited voted in favor of the resolution providing for the
removal of Mr. Anderson as a Director of the Company and against the resolutions
proposed by Mr. Anderson and Gold & Appel Transfer, S.A.
The Reporting Entities believe that they and Apax no longer may be deemed to
constitute a "group" within the meaning of Section 13(d) of the Exchange Act.
The Reporting Entities may from time to time acquire additional Ordinary
Shares or dispose of Ordinary Shares through open market or privately negotiated
transactions or otherwise, depending on existing market conditions and other
considerations discussed below. The Reporting Entities intend to review their
investment in the Company on a continuing basis and, depending upon the price
and availability of Ordinary Shares, subsequent developments affecting the
Company, the Company's business and prospects, other investment and business
opportunities available to the Reporting Entities, general stock market and
economic conditions, tax considerations and other factors considered relevant,
may decide at any time not to increase, or to decrease, the size of their
investment in the Company.
Except as set forth herein or in Item 6, none of the Reporting Entities nor,
to the best of their knowledge, any person listed in Schedule I to the Initial
Filing, has any plans or proposals which
6 of 8 Pages
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relate to or would result in: (a) the acquisition by any person of additional
securities of the Company, or the disposition of securities of the Company; (b)
an extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the Company or any of its subsidiaries; (c) a sale or
transfer of a material amount of assets of the Company or any of its
subsidiaries; (d) any change in the present Board of Directors or management of
the Company, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (e) any material
change in the present capitalization or dividend policy of the Company; (f) any
other material change in the Company's business or corporate structure; (g)
changes in the Company's Memorandum and Articles of Association or instruments
corresponding thereto or other actions which may impede the acquisition of
control of the Company by any person; (h) causing a class of securities of the
Company to be delisted from a national securities exchange or to cease to be
authorized to be quoted in an inter-dealer quotation system of a registered
national securities association; (i) a class of equity securities of the Company
becoming eligible for termination of registration pursuant to Section 12(g)(4)
of the Exchange Act; or (j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
Item 5(a)(ii) of the Schedule 13D is hereby amended to add the following:
The Reporting Entities believe that they and Apax no longer may be deemed to
constitute a "group" within the meaning of Section 13(d) of the Exchange Act.
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:
The information set forth in Item 4 above is incorporated herein by
reference.
7 of 8 Pages
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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: November 24, 1998 WARBURG, PINCUS VENTURES, L.P.
By: Warburg, Pincus & Co.,
General Partner
By:/s/Stephen Distler
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Stephen Distler
Partner
Dated: November 24, 1998 WARBURG, PINCUS & CO.
By:/s/Stephen Distler
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Stephen Distler
Partner
Dated: November 24, 1998 E.M. WARBURG, PINCUS & CO., LLC
By:/s/Stephen Distler
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Stephen Distler
Member
8 of 8 Pages
