[.TX] 1-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
-----------
TELETOUCH COMMUNICATIONS, INC.
-----------------------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
-----------------------------------------
(Title of Class of Securities)
87951V 10 7
-----------------------------------------
(CUSIP Number)
Copy to:
Marcus D. Wedner William S. Kirsch, P.C.
Continental Illinois Venture Corporation Kirkland & Ellis
231 South LaSalle Street 200 E. Randolph Drive
Chicago, Illinois 60697 Chicago, Illinois 60601
312/828-8021 312/861-2000
- --------------------------------------------------------------------------------
(Name, Address and Telephne Number of Person
Authorized to Receive Notices and Communications)
July 24, 1996
-------------------------------------------------------
(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 Rul3 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 whome 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 the
disclosures provided in a prior cover page.
The information required in 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).
(Continued on following pages)
Page 1
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
BankAmerica Corporation
94-1681731
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
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
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,599,174 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,599,174 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,599,174 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.5% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Bank of America Illinois
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,599,174 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,599,174 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,599,174 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.5% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BK
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 3
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Continental Illinois Venture Corporation
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
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
NUMBER OF 4,599,174 (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,764,277 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
4,599,174 (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,716,777 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,599,174 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.5% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 4
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
CIVC Partners 1
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, BK
- -------------------------------------------------------------------------------
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
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 5
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Marcus D. Wedner
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 10,000 (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
10,000 (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 6
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Daniel G. Helle
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 7
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Sue C. Rushmore
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 8
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Thomas E. VanPelt, Jr.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0- (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0- (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 9
<PAGE>
- -------------------------------
CUSIP No. 87951V 10 7 13D
- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Christopher J. Perry
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
|_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 10,000 (See Item 5)
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 443,473 (See Item 5)
REPORTING ---------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
10,000 (See Item 5)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
443,473 (See Item 5)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,473 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1% (See Item 5)
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 10
<PAGE>
Item 1. Security and Issuer.
-------------------
No change from original filing.
Item 2. Identity and Background.
-----------------------
No change from original filing, except for the following with regard to
Item 2(d) through 2(f):
A. BAC Directors' and Executive Officers' Information.
1. Philip M. Hawley is no longer a director of BAC.
2. Solomon D. Trujillo is now a director of BAC. Mr. Trujillo's
address and principal occupation are:
1801 California Street President and Chief Executive Officer
52nd Floor US West Communications Group
Denver, Colorado 80202 (principal business:
telecommunications services)
B. B of A Directors' and Executive Officers' Information.
The original filing's information is replaced with the information set
forth below. Following are the names, addresses and principal occupations of the
executive officers and directors of B of A (directors are indicated by
asterisk). Each such person is a citizen of the United States.
*Marcus W. Acheson 231 South LaSalle St. Executive Vice President,
6th Floor Bank of America Illinois,
Chicago, IL 60697 Chicago, Illinois
(principal business:
banking and finance)
*Joseph A. Ervin 840 South Canal St. Executive Vice President,
1st Floor Bank of America NT&SA,
Chicago, IL 60607 San Francisco, CA
(principal business:
banking and finance)
*Evan L. Evans 231 South LaSalle St. Senior Vice President,
13th Floor and Chief Human Resources
Chicago, IL 60697 Officer, Bank of America
Illinois, Chicago, IL
(principal business:
banking and finance)
*Jeremy G. Fair 231 South LaSalle St. Group Executive Vice
9th Floor President, Bank of
Chicago, IL 60697 Americ NT&SA, San
Francisco, CA
(principal business:
banking and finance)
*William M. Goodyear 231 South LaSalle St. Chairman and President,
13th Floor Bank of America Illinois,
Chicago, iL 60697 Chicago, IL
(principal business:
banking and finance)
*Philip M. Lewin 231 South LaSalle St. Executive Vice President
8th Floor and Senior Credit Officer
Chicago, IL 60697 Bank of America Illinois,
Chicago, IL
(principal business:
banking and finance)
*Terry E. Perucca 231 South LaSalle St. Executive Vice President,
15th Floor Bank of America NT&SA,
Chicago, IL 60697 San Francisco, CA
(principal business:
banking and finance)
Page 11
<PAGE>
*Michael E. Rossi 555 California St. Vice Chairman,
40th Floor BankAmerica Corporation,
San Francisco, CA 94104 San Francisco, CA
(principal business:
banking and finance)
*Wilma J. Smelcer 231 South LaSalle St. Executive Vice President
2nd Floor and Chief Administrative
Chicago, IL 60697 Officer,
Bank of America Illinois,
Chicago, IL
(principal business:
banking and finance)
C. CIVC Directors' and Executive Officers' Information.
1. Terry E. Perucca's new officer title is Executive Vice President
(i.e., changed from Senior Vice President).
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
No change from original filing.
Item 4. Purpose of Transaction.
----------------------
CIVC and CIVC Partners acquired the Warrants for investment purposes.
Depending on market conditions and other factors (including evaluation of the
Company's businesses and prospects, availability of funds, alternative uses of
funds and general economic conditions), CIVC and CIVC Partners may from time to
time purchase additional securities of the Company or dispose of all or a
portion of its investment in the Company.
The Company, CIVC, CIVC Partners and certain other stockholders of the
Company are parties to a Stockholders Agreement, dated as of August 3, 1995
(the "Stockholders Agreement") which provides, among other things, that CIVC
----------------------
shall have certain voting rights. Pursuant to the terms of the Stockholders
Agreement, CIVC has the right to designate a number of directors to the
Company's board of directors equal to the number which is one less than a
majority of the directors (initially three of seven) until the earlier of
August 3, 1997 or the occurrence of an Event of Default (as defined in the
Stockholders Agreement). Following the earlier of August 3, 1997 or the
occurrence of an Event of Default, CIVC has the right to designate a majority
of the Company's board of directors (e.g., four of seven).
In general, each party to the Stockholders Agreement has agreed under
certain circumstances to vote all of his or its shares of Common Stock in favor
of the persons designated by CIVC and for a Sale of the Company (as defined in
the Stockholders Agreement) after the earlier of August 3, 1997 or an Event of
Default (as defined in the Stockholders Agreement). As of the date of this
Page 12
<PAGE>
Statement, stockholders (other than CIVC) holding an aggregate of 3,372,191
shares of Common Stock were parties to the Stockholders Agreement. In addition,
certain stockholders of the Company have agreed to dispose of their shares of
the Company's capital stock under certain circumstances. Pursuant to the
Stockholders Agreement, GM Holdings, L.L.C., which holds an aggregate of 607,914
shares of Common Stock, has agreed not to vote or dispose of any of its shares
of Common Stock unless directed to do so by CIVC; and other stockholders holding
an aggregate of 2,716,777 shares of Common Stock have agreed that after the
earlier of August 3, 1997 or an Event of Default (as defined in the Stockholders
Agreement) they will participate in, and raise no objection to, a Sale of the
Company (as defined in the Stockholders Agreement), including the sale of their
capital stock of the Company. The Reporting Persons disclaim beneficial
ownership of all shares of Common Stock owned by the other parties to the
Stockholders Agreement.
A copy of the Stockholders Agreement was filed by the Company with the
SEC on August 18, 1995 as an exhibit to the Company's Form 8-K and is
incorporated herein by reference.
Pursuant to a Registration Agreement, dated as of August 3, 1995, by
and among the Company, CIVC, CIVC Partners and certain other stockholders of
the Company (the "Registration Agreement"), CIVC, CIVC Partners and certain
----------------------
other stockholders of the Company were granted certain registration rights with
respect to their Warrants and underlying shares of Common Stock. A copy of the
Registration Agreement was filed by the Company with the SEC on August 18, 1995
as an exhibit to the Company's Form 8-K and is incorporated herein by reference.
Pursuant to an Agreement and Plan of Merger, dated as of April 15, 1996,
by and among the Company, ProNet, Inc. ("ProNet") and ProNet Subsidiary, Inc.
------
(the "Merger Agreement"), the Company agreed to merge (the "Merger") with and
---------------- ------
into ProNet Subsidiary, Inc. In connection with the Merger Agreement, CIVC,
CIVC Partners, certain other stockholders of the Company and ProNet entered into
a Voting Agreement, dated as of April 15, 1996 (the "Voting Agreement"). The
----------------
Merger Agreement and Voting Agreement were filed as exhibits to the Schedule 13D
filed by B of A on behalf of all Reporting Persons on April 26, 1996. On July
24, 1996 the Company and ProNet agreed to terminate the Merger (and thus the
Merger Agreement and Voting Agreement were terminated). As a result, the
Page 13
<PAGE>
provisions of the Merger Agreement and Voting Agreement (as described in the
Schedule 13D filed on April 26, 1996) are no longer applicable.
The summaries of the agreements referred to in this Item 4 and
elsewhere in this Statement are not intended to be complete and are qualified in
their entirely by reference to the detailed provisions of the such agreements
incorporated herein by reference.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) CIVC is the direct beneficial owner of Warrants presently
exercisable for 3,991,260 shares of Common Stock, and the indirect beneficial
owner of 607,914 shares of Common Stock owned by GM Holdings, L.L.C. (see Item
4), together representing approximately 44.5% of the Company's Common Stock
(assuming exercise of the Warrants). CIVC may also be deemed to be the indirect
beneficial owner of 2,764,277 additional shares of Common Stock that are subject
to the terms of the Stockholders Agreement as of the date of this Statement,
because the holders thereof have agreed to vote and, with respect to 2,716,777
of such shares, dispose of such shares under certain circumstances (see Item 4).
If CIVC was deemed to be the beneficial owner of such additional shares of
Common Stock, CIVC would be deemed to be the beneficial owner of an aggregate of
7,363,451 shares of Common Stock (assuming exercise of the Warrants). Except for
the 607,914 shares of Common Stock owned by GM Holdings, L.L.C. (see Item 4),
CIVC disclaims beneficial ownership of all shares of Common Stock held by the
other parties to the Stockholders Agreement.
By virtue of the relationship between CIVC and B of A described in
Item 2, B of A may be deemed to possess indirect beneficial ownership of the
shares of Common Stock beneficially owned by CIVC. And, by virtue of the
relationship between CIVC, B of A and BAC described in Item 2, BAC may be
deemed to possess indirect beneficial ownership of the shares of Common Stock
beneficially owned by CIVC. The filing of this Statement by B of A and BAC shall
not be construed as an admission that either B of A or BAC is, for the purpose
of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities
covered by this Statement.
Page 14
<PAGE>
CIVC Partners is the direct beneficial owner of 443,473 shares of
Common Stock, representing 7% of the Company's Common Stock, having acquired
such shares through the exercise of Warrants.
The Reporting Persons, Marcus D. Wedner and Christopher J. Perry, are
each direct beneficial owners of 10,000 shares of Common Stock (assuming
exercise of options owned by each of them which are currently exercisable). In
addition, by virtue of their relationship as general partners of CIVC Partners,
each of the General Partners may be deemed to possess indirect beneficial
ownership of the 443,473 shares of Common Stock owned by CIVC Partners. Marcus
D. Wedner and Christopher J. Perry may deemed to each beneficially own Common
Stock representing 7.1% and each of the other General Partners may deemed to
beneficially own Common Stock representing 7.0% of the Company's Common Stock.
The filing of this statement by each of the General Partners shall not be
construed as an admission that any General Partner is for the purpose of Section
13(d) or 13(g) of the Act, the beneficial owner of any securities covered by
this Statement.
The percentages calculated in this Item 5 (other than with respect to
CIVC, Marcus D. Wedner and Christopher J. Perry) are based upon 6,347,416 shares
of Common Stock outstanding (not including the exercise of the Warrants) as of
May 31, 1996, as disclosed in the Company's 10-K for the fiscal year ended May
31, 1996. The percentages with respect to CIVC in this Item 5 include the
exercise of the Warrants beneficially owned by CIVC into 3,991,260 shares of
Common Stock. The percentages with respect to Marcus D. Wedner and Christoper
J. Perry in this Item 5 include the exercise of the options beneficially owned
by each of them into 10,000 shares of Common Stock.
(b) CIVC has the sole power to vote or direct the vote of the
3,991,260 shares of Common Stock beneficially owned by CIVC (assuming exercise
of the Warrants beneficially owned by CIVC into 3,991,260 shares of Common
Stock). By virtue of the Stockholders Agreement (see Item 4), CIVC may be deemed
to share the power to vote or direct the vote of 3,372,191 shares of Common
Stock. CIVC disclaims beneficial ownership of all shares of Common Stock held by
the other parties to the Stockholders Agreement.
Page 15
<PAGE>
CIVC has the sole power to dispose of or direct the disposition of the
3,991,260 shares of Common Stock beneficially owned by CIVC (assuming exercise
of the Warrants beneficially owned by CIVC into 3,991,260 shares of Common
Stock) and the 607,914 shares of Common Stock beneficially owned by GM Holdings,
LLC (see Item 4). By virtue of the Stockholders Agreement (see Item 4), CIVC may
be deemed to share the power to dispose of or direct the disposition of
2,716,777 shares of Common Stock. CIVC disclaims beneficial ownership of all
shares of Common Stock held by such other parties to the Stockholders Agreement.
By virtue of the relationship between CIVC and B of A described in Item
2, B of A may be deemed to indirectly share the power to vote or direct the vote
and indirectly share the power to dispose of or direct the disposition of the
shares of Common Stock beneficially owned by CIVC. By virtue of the relationship
between CIVC, B of A and BAC described in Item 2, BAC may be deemed to
indirectly share the power to vote or direct the vote and indirectly share the
power to dispose of or direct the disposition of the shares of Common Stock
beneficially owned by CIVC.
CIVC Partners does not have the sole power to vote or direct the vote
of any shares of Common Stock. By virtue of the Stockholders Agreement (see Item
4), CIVC Partners may be deemed to share the power to vote or direct the vote
and share the power to dispose or direct the disposition of 443,473 shares of
Common Stock.
Marcus D. Wedner and Christopher J. Perry each have the sole power to
vote and dispose of 10,000 shares of Common Stock (assuming exercise of the
options owned by each of them which are currently exercisable). None of the
other General Partners has the sole power to vote or direct the vote of any
shares of Common Stock. By virtue of each General Partner's relationship as a
general partner of CIVC Partners, each General Partner may be deemed to share
the power to vote or direct the vote and share the power to dispose or direct
the disposition of the 443,473 shares of Common Stock held by CIVC Partners.
As described in Item 4, the Voting Agreement (filed as an exhibit to
the Schedule 13D filed by B of A on behalf of the Reporting Persons on April 26,
1996) has been termined and therefore CIVC and CIVC Partners no longer may be
deemed to share with ProNet the power to vote or direct the vote or dispose or
direct the disposition of all of their shares of Common Stock.
Page 16
<PAGE>
(c) None of the Reporting Persons has effected a transaction in shares
of Common Stock during the past 60 days.
(d) No person other than the Reporting Persons has the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Common Stock reported as being beneficially owned by the
Reporting Persons.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
---------------------------------------------------------------------
to Securities of the Issuer.
---------------------------
Except as set forth in Item 4, to the best knowledge of the Reporting
Persons, no contracts, arrangements, understandings or relationships (legal or
otherwise) exist among the persons named in Item 2 or between such persons and
any other person with respect to any securities of the Company, including but
not limited to transfer or voting of any such securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
divisions of profits or loss, or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
--------------------------------
Exhibit A -- Joint Filing Agreement, dated as of August 30, 1996, by
and among CIVC, B of A, BAC, CIVC Partners, Marcus D.
Wedner, Daniel G. Helle, Sue C. Rushmore, Thomas E.
VanPelt, Jr. and Christopher J. Perry.
Page 17
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief,
each of the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Dated: August 30, 1996
CONTINENTAL ILLINOIS VENTURE CORPORATION*
By: /s/CHRISTOPHER J. PERRY
-------------------------------------
Christopher J. Perry
President & Managing Director
BANK OF AMERICA ILLINOIS*
By: /s/ LOY D. KELLEY
-------------------------------------
Loy D. Kelley
Attorney-In-Fact
BANKAMERICA CORPORATION*
By: /s/ JUDITH A. BOYLE
------------------------------------
Judith A. Boyle
Counsel
CIVC PARTNERS I
By: /s/ CHRISTOPHER J. PERRY
-------------------------------------
Christopher J. Perry
General Partner
*Attached to this signature page is evidence of the signatory's authority to
sign on behalf of such person.
/s/ MARCUS D. WEDNER
--------------------------------------
Marcus D. Wedner
/s/ DANIEL G. HELLE
--------------------------------------
Daniel G. Helle
/s/ SUE C. RUSHMORE
--------------------------------------
Sue C. Rushmore
/s/ THOMAS E. VANPELT, JR.
--------------------------------------
Thomas E. VanPelt, Jr.
/s/ CHRISTOPHER J. PERRY
--------------------------------------
Christopher J. Perry
Page 18
<PAGE>
Board of Directors Adopted: November 1, 1993
BankAmerica Corporation Last amended: August 1, 1994
GENERAL OPERATING AND BORROWING RESOLUTION (Excerpts from)
----------------------------------------------------------
2. Any one BAC officer listed above under either the designation GROUP
1 or GROUP 2, or any member of the Legal Department of Bank of America NT&SA
holding the title of counsel or a title senior thereto be, and hereby is,
authorized to sign registrations, reports, certificates, applications and other
writings on behalf of BAC for submission to or filing with any federal, state,
local or foreign regulatory authorities, and any amendments, withdrawals, or
terminations thereof, as are deemed desirable by such officer or attorney in
connection with BAC's activities or affairs.
Page 19
<PAGE>
LIMITED POWER OF ATTORNEY
-------------------------
KNOW ALL MEN BY THESE PRESENTS, that BANK OF AMERICA ILLINOIS
("Principal"), an Illinois banking corporation with its registered offices at
231 South LaSalle Street, Chicago, Illinois, by and through its duly elected
officer, Wilma J. Smelcer, Chief Administrative Officer of Principal, does
hereby nominate, constitute and appoint Loy D. Kelley and I. Benedict Espinos
and each of them, as its true and lawful attorneys-in-fact, for it and in its
name, place and stead, to execute any and all reports, forms, schedules or
other documents required to be executed by Principal pursuant to Section 13 of
the Securities Exchange Act of 1934 as now in effect or hereafter amended and
rules issued thereunder from time to time by the Securities and Exchange
Commission.
Principal hereby gives and grants unto each of said attorneys-in-fact
full power and authority to do and perform all and every act necessary,
requisite or proper to be done with respect to the aforesaid reports, forms,
schedules or other documents, including the filing thereof with the Securities
and Exchange Commission, and such stock exchanges or other authority, entity or
person as fully as Principal might or could do, with full power of substitution
or revocation, hereby ratifying and confirming all that Principal's attorneys-
in-fact shall have lawfully done heretofore in connection therewith or hereafter
causes to be done by virtue hereof.
This Limited Power of Attorney shall expire on August 28, 1997, unless
earlier revoked or extended by Principal in writing.
This Limited Power of Attorney shall be governed by and construed in
accordance with the laws of the State of Illinois, United States of America.
IN WITNESS WHEREOF, Principal has executed this Limited Power of
Attorney as of August 28, 1996.
/s/ WILMA J. SMELCER
----------------------------
Wilma J. Smelcer
Chief Administrative Officer
Subscribed and sworn to before
me as of August 28, 1996.
/s/ Nina Tai
- -------------------------------
Nina Tai
Notary Public
Page 20
<PAGE>
Board of Directors February 14, 1995
Continental Illinois Venture Corporation [Board Meeting]
GENERAL OPERATING RESOLUTION
- ----------------------------
1. This Board of Directors of Continental Illinois Venture Corporation
authorizes any two of the following officers of this corporation, acting
jointly:
the Chairman of the Board
the Vice Chairman of the Board
the President
any Managing Director
the Treasurer
the Controller
to make, execute and deliver for and on behalf of this corporation, without
limitation as to amount, all contracts, documents, instruments, and agreements
of any kind or character, affecting any real or personal property, tangible or
intangible, choate or inchoate, or any interest therein now or hereafter owned
or thereby acquired by or standing in the name of this corporation, or
obligating this corporation in any way, including but not limited to bills of
sale, contracts of purchase or sale, contracts for services to be performed or
received, mortgages, deeds of trust, deeds, licenses, leases, bonds, pledges,
certificates, guaranties, subordination agreements, security agreements or
indentures, whether said property stands in the name of this corporation as
owner, trustee, or otherwise.
2. The Board of Directors of this corporation authorizes any one of the
officers listed above, acting alone, to make, execute and deliver for and on
behalf of this corporation all of the aforementioned contracts, documents,
instruments or agreements involving amounts not exceeding $20,000,000, as
reasonably determined by such officer or officers.
3. The Board of Directors of this corporation authorizes any one of the
officers listed below to make, execute and deliver for and on behalf of this
corporation all of the aforementioned contracts, documents, instruments or
agreements involving amounts not exceeding $1,000,000, as reasonably determined
by such officer.
any Principal
any Vice President
the Secretary
any Assistant Treasurer
any Assistant Controller
4. The Board of Directors of this corporation authorizes any officer
of this corporation, or any attorney in the Legal Department of Bank of America
NT&SA with the title of counsel or a title senior thereto to sign registrations,
reports, certificates, applications and other writings on behalf of this
corporation for submission to or filing with any federal, state, local or
foreign regulatory authorities, and any amendments, withdrawals, or terminations
thereof, as the officer or attorney deems appropriate.
Page 21
<PAGE>
EXHIBIT A
AGREEMENT RE JOINT FILING OF AMENDMENT NO. 1 TO
SCHEDULE 13D
-----------------------------------------------
The undersigned hereby agrees as follows:
(i) Each of them is individually eligible to use the Amendment No. 1
to Schedule 13D ("Amendment No. 1") to which this Exhibit is attached, and such
Amendment No. 1 is filed on behalf of each of them; and
(ii) Each of them is responsible for the timely filing of the Schedule
13D and any amendments thereto, and for the completeness and accuracy of the
information concerning such person contained therein; but none of them is
responsible for the completeness or accuracy of the information concerning the
other persons making the filing, unless such person knows or has reason to
believe that such information is inaccurate.
Dated: August 30, 1996
CONTINENTAL ILLINOIS VENTURE CORPORATION
By: /s/ CHRISTOPHER J. PERRY
------------------------------------
Christopher J. Perry
President & Managing Director
BANK OF AMERICA ILLINOIS
By: /s/ LOY D. KELLEY
------------------------------------
Loy D. Kelley
Attorney-In-Fact
BANKAMERICA CORPORATION
By: /s/ JUDITH A. BOYLE
-----------------------------------
Judith A. Boyle
Counsel
CIVC PARTNERS I
By: /s/ CHRISTOPHER J. PERRY
-------------------------------------
Christopher J. Perry
General Partner
/s/ MARCUS D. WEDNER
--------------------------------------
Marcus D. Wedner
/s/ DANIEL G. HELLE
--------------------------------------
Daniel G. Helle
/s/ SUE C. RUSHMORE
--------------------------------------
Sue C. Rushmore
/s/ THOMAS E. VANPELT, JR.
--------------------------------------
Thomas E. VanPelt, Jr.
/s/ CHRISTOPHER J. PERRY
--------------------------------------
Christopher J. Perry
Page 22
