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OMB APPROVAL
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OMB NUMBER: 3235-0145
Expires: September 30, 1988
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
PEOPLES TELEPHONE COMPANY, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
712574102
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(CUSIP Number)
ALVIN J. PORTNOY,
1800 AVENUE OF THE STARS, 2ND FLOOR, LOS ANGELES, CA 90067, (310) 556-2721
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
SEPTEMBER 24, 1996
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(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 the 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 five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*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>
<TABLE>
<CAPTION>
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<S> <C> <C>
CUSIP NO. 712574102 Page 2 of 10 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KAIM NON-TRADITIONAL, L.P., 95-4486379
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2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b ) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA LIMITED PARTNERSHIP
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7 SOLE VOTING POWER
N/A
NUMBER OF --------- ----------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 773,200
OWNED BY EACH --------- ----------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON N/A
WITH --------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
773,200
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
773,200
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
4.8%
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14 TYPE OF REPORTING PERSON*
PN
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<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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<S> <C> <C>
CUSIP NO. 712574102 13D Page 3 of 10 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RICHARD A. KAYNE, ###-##-####
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2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b ) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. CITIZEN
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7 SOLE VOTING POWER
N/A
NUMBER OF --------- ----------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 773,200
OWNED BY EACH --------- ----------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON N/A
WITH --------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
773,200
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
773,200
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
4.8%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</FN>
</TABLE>
<PAGE>
Item 5. Interest in Securities of the Issuer
(a) State the aggregate number and percentage of the class of securities
identified pursuant to Item 1 (which may be based on the number of
securities outstanding as contained in the most recently available filing
with the Commission by the issuer unless the filing person has reason to
believe such information is not current) beneficially owned (identifying
those shares which there is a right to acquire) by each person named in
Item 2. The above mentioned information should also be furnished with
respect to persons who, together with any of the persons named in Item 2,
comprise a group within the meaning of Section 13(d)(3) of the Act;
(b) For each person named in response to paragraph (a), indicate the number of
shares as to which there is sole power to vote or to direct the vote,
shared power to vote or to direct the vote, sole power to dispose or to
direct the disposition, or shared power to dispose or to direct the
disposition. Provide the applicable information required by Item 2 with
respect to each person with whom the power to vote or to direct the vote or
to dispose or direct the dispostion is shared;
(c) Describe any transactions in the class of securities reported on that were
effected during the past sixty days or since the most recent filing on
Schedule 13D (Sec. 240.13d-191), whichever is less, by the persons named in
response to paragraph (a).
Instruction. The description of a transaction required by Item 5(c) shall
include, but not necessarily be limited to: (1) the identity of the person
covered by Item 5(c) who effected the transaction; (2) the date of the
transaction; (3) the amount of securities involved; (4) the price per share
or unit; and (5) where and how the transaction was effected.
(d) If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of,
such securities, a statement to that effect should be included in response
to this item and, if such interest relates to more than five percent of the
class, such person should be identified. A listing of the shareholders of
an investment company registered under the Investment Company Act of 1940
or the beneficiaries of an employee benefit plan, pension fund or endowment
fund is not required.
(e) If applicable, state the date on which the reporting person ceased to be
the beneficial owner of more than five percent of the class of securities.
Instruction. For computations regarding securities which represent a right
to acquire an underlying security, see Rule 13d-3(d)(1) and the note
thereto.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Describe any contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 and between such persons
and any person with respect to any securities of the issuer, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, put or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies, naming the
persons with whom such contracts, arrangements, understandings or relationships
have been entered into. Include such information for any of the securities that
are pledged or otherwise subject to a contingency the occurrence of which would
give another person voting power or investment power over such securities except
that disclosure of standard default and similar provisions contained in loan
agreements need not be included.
Item 7. Material to Be Filed as Exhibits
The following shall be filed as exhibits: copies of written agreements
relating to the filing of joint acquisition statements as required by Rule
13d-1(f) (Sec. 240.13d-1(f) and 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; (2) the acquisition
of issuer control, liquidation, sale of assets, merger, or change in business or
corporate structure or any other matter as disclosed in Item 4; and (3) the
transfer or voting of the securities, finder's fees, joint ventures, options,
puts, calls, guarantees of loans, guarantees against loss or of profit, or the
giving or withholding of any proxy as disclosed in Item 6.
Signature
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.
SEPTEMBER 30, 1996
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Date Signature
ALVIN J. PORTNOY, ON BEHALF OF THE
REPORTING PARTIES
---------------------------------------
Name/Title
6 6 of 7
<PAGE>
United States
Securities and Exchange Commission
Schedule 13D
*********************
Item 1. Security and Issuer
Common Stock, with $0.01 Par Value.
Peoples Telephone Company, Inc.
2300 N.W. 89th Place
Miami, FL 33172
Item 2. Identity and Background
a. Richard A. Kayne
1800 Avenue of the Stars, 2nd Floor
Los Angeles, CA 90067
Mr. Kayne is a U.S. Citizen
Principal occupation:
President, Chief Executive Officer and Director of KA Associates, Inc.
(KA), a registered broker/dealer, and Kayne, Anderson Investment
Management, Inc., the General Partner of KAIM Non-Traditional, L.P.
(KAIM), a registered investment adviser under the Investment Advisers
Act of 1940. KA and KAIM's principal business address is 1800 Avenue of
the Stars, 2nd Floor, Los Angeles, CA 90067.
During the past five years, Mr. Kayne and KA Associates, Inc. have not
been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
b. KAIM Non-Traditional, L.P.
1800 Avenue of the Stars, 2nd Floor
Los Angeles, CA 90067
Principal Occupation: A Registered Investment Advisor
under the Investment Advisors Act
During the past five years, KAIM Non-Traditional, L.P. has not been
convicted in a criminal proceeding nor has it been a party to a civil
proceeding of a judicial or administrative body or the subject of any
judgements, decrees or final orders from the regulatory bodies.
The officers of the General Partner of KAIM Non-Traditional, L.P. are
as follows:
John E. Anderson - Director
Richard A. Kayne - Director, C.E.O. and President
<PAGE>
Alvin J. Portnoy - Executive Vice President
William T. Miller - Chief Financial Officer
John E. Anderson
1800 Avenue of the Stars, Suite 1400
Los Angeles, CA 90067
Mr. Anderson is a U.S. Citizen
Principal occupation:
Chairman of Topa Equities, Ltd, a diversified investment company. Topa
Equities principal business address is 1800 Avenue of the Stars, #1400,
Los Angeles, CA 90067. Mr. Anderson is also Director of KA Associates,
Inc. (KA), a registered broker/dealer, and Kayne, Anderson Investment
Management, Inc.(KAIM), a registered investment adviser under the
Investment Advisers Act of 1940. KA and KAIM's principal business
address is 1800 Avenue of the Stars, 2nd Floor, Los Angeles, CA 90067.
During the past five years, Mr. Anderson has not been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
Richard A. Kayne (see Item 2(a) above.)
Alvin J. Portnoy
1800 Avenue of the Stars, 2nd Floor
Los Angeles, CA 90067
Mr. Portnoy is a U.S. Citizen
Secretary of KA Associates, Inc.(KA), a registered broker/dealer, and
Executive Vice President of Kayne, Anderson Investment Management,
Inc.(KAIM), a registered investment adviser under the Investment
Advisers Act of 1940. KA and KAIM's principal business address is 1800
Avenue of the Stars, 2nd Floor, Los Angeles, CA 90067.
During the past five years, Mr. Portnoy has not been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
William T. Miller
1800 Avenue of the Stars, 2nd Floor
Los Angeles, CA 90067
Mr. Miller is a U.S. Citizen
Chief Financial Officer of KA Associates, Inc.(KA), a registered
broker/dealer, and Kayne, Anderson Investment Management, Inc.(KAIM), a
registered investment adviser
<PAGE>
under the Investment Advisers Act of 1940. KA and KAIM's principal
business address is 1800 Avenue of the Stars, 2nd Floor, Los Angeles,
CA 90067.
During the past five years, Mr. Miller has not been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
Item 3. Source and Amount of Funds or Other Consideration
Investment partnership funds were derived by a combination of cash contributions
to the partnerships by the limited partners and, additionally, from the use of
margin by certain of the partnerships.
Item 4: Purpose of Transaction
The shares of the issuer were acquired for investment purposes. Based on
continuing evaluation of the issuer, alternative investment opportunities and
all other factors deemed relevant, Richard A. Kayne and KAIM Non-Traditional,
L.P., on behalf of its managed accounts, may elect to acquire additional shares
of the issuer's Common Stock in the open market or in privately negotiated
transactions (assuming the availability of additional shares of the issuer's
Common Stock at prices regarded as acceptable), or may elect to sell some or all
of their shares of the issuer Common Stock. Richard A. Kayne and KAIM
NonTraditional, L.P., on behalf of its managed accounts, have indicated to the
issuer that they may purchase more shares, but have made no formal proposals
which relate to or would result in any of the matters described in Items
4(a)-(j) of Schedule 13D; however, as part of their ongoing review of investment
alternatives, Richard A. Kayne and KAIM Non-Traditional, L.P., on behalf of its
managed accounts, have not excluded the possibility of considering such matters
in the future of formulating a plan with respect to such matters subject to
applicable law, and, from time to time, Richard A. Kayne and KAIM
Non-Traditional, L.P., on behalf of its managed accounts, may hold discussions
with or make formal proposals to management of the issuer, other stockholders of
the issuer or other third parties regarding such matters.
Item 5. Interest in Securities of the Issuer
a. - b. Richard A. Kayne has shared dispositive power and shared voting power
with KAIM Non-Traditional, L.P. of 773,200 shares representing 4.8% of the
issuer.
<PAGE>
c. The transactions for the reporting parties were effected by KAIM
Non-Traditional, L.P. through several brokers. Sales of the shares were made as
follows:
Date Type # of shares Price Where/how transaction effected
- ---- ---- ----------- ----- ------------------------------
9/11/94 Sell 50,000 3.562 Trade done through NASDAQ
9/12/96 Sell 50,000 3.625 "
9/13/96 Sell 50,000 3.750 "
9/23/96 Sell 12,000 3.875 "
9/24/96 Sell 50,000 4.000 "
9/24/96 Sell 38,000 3.937 "
d. Not applicable
e. Not applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Not applicable
<PAGE>
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1)
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934 (the "Act") by and between [among] the parties listed
below, each referred to herein as a "Joint Filer." The Joint Filers agree that a
statement of beneficial ownership as required by Section 13(d) of the Act and
the Rules thereunder may be filed on each of their behalf on Schedule 13D or
Schedule 13G, as appropriate, and that said joint filing may thereafter be
amended by further joint filings. The Joint Filers state that they each satisfy
the requirements for making a joint filing under Rule 13d-1.
--------------------------------
Richard A. Kayne, by
Alvin J. Portnoy (see attached Power of Attorney)
--------------------------------
KAIM Non-Traditional, L.P., by
Alvin J. Portnoy, Executive Vice President of
Kayne, Anderson Investment Management, Inc., General Partner
of KAIM Non-Traditional, L.P.
<PAGE>
POWER OF ATTORNEY FOR
SCHEDULE 13D
I, Richard A. Kayne, in my individual capacity and as the principal
executive officer of Kayne, Anderson Investment Management, Inc. hereby appoint
Alvin J. Portnoy as attorney-in-fact and agent, in all capacities, to execute,
on my behalf and on behalf of the above-listed corporation for which I serve as
the principal executive officer, and to file with the appropriate issuers,
exchanges and regulatory authorities, Schedules 13D and 13G and Forms 3, 4 and 5
and documents relating thereto pertaining to the acquisition of an equity
position in Peoples Telephone Company, Inc. I hereby grant to said
attorney-in-fact full authority to do every act necessary to be done in order to
effectuate the same as fully, to all intents and purposes, as I could if
personally present, thereby ratifying all that said attorney-in-fact and agent
may lawfully do or cause to be done by virtue thereof.
I hereby execute this Power of Attorney as of this 30th day of
September, 1996.
---------------------------------
Richard A. Kayne
