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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
REGENCY AFFILIATES, INC.
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(Name of Issuer)
Common Stock $0.40 Par Value
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(Title of Class of Securities)
758847107
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(CUSIP Number)
James F. Koehler
7th Floor, Buckley Building
1501 Euclid Avenue
Cleveland, Ohio 44115
(216) 241-5310
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [ ].
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<TABLE>
<CAPTION>
SCHEDULE 13D
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CUSIP NO. 758847107 PAGE 2 OF 4 PAGES
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<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Statesman Group, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
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7 SOLE VOTING POWER
3,982,368
NUMBER OF -------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ------------
EACH -------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
3,126,377
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10 SHARED DISPOSITIVE POWER
------------
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,126,377
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8
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14 TYPE OF REPORTING PERSON*
co
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</TABLE>
*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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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
This Amendment No. 4 to Schedule 13D statement (the "Schedule") is
filed on behalf of Statesman Group, Inc. ("Statesman") as the reporting person
hereunder, and amends the Third Amended Schedule 13D filed by Statesman on June
13, 1997, which reported on events of June 12, 1997.
ITEM 1. SECURITY AND ISSUER.
This Schedule relates to the voting common stock, $0.40 par value, of
Regency Affiliates, Inc. ("Regency"). Regency maintains its principal executive
offices at 729 South Federal Hwy., Suite 307, Stuart, Florida 34994 and its
administrative offices at 10842 Old Mill Road, No. 5B, Omaha, Nebraska 68154.
ITEM 2. IDENTITY AND BACKGROUND.
Statesman Group, Inc. has relocated its principal business office to
King & George Streets, Nassau, Bahamas.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On June 15, 1998, Regency issued 187,000 shares of its voting common
stock, $0.40 per value, to William R. Ponsoldt, Sr., pursuant to the terms of
his Employment Agreement with Regency dated June 3, 1997. On June 18, 1997, Mr.
Ponsoldt contributed the 187,000 shares to Statesman. Statesman thereupon issued
the shares to a number of individuals.
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Shares were issued by Statesman to the following persons:
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<S> <C>
Pamlyn Kelly 100,000
Craig Grossman 25,000
James Donatelli 27,000
Mark Cooper 5,000
Love-A-Child, Inc. 20,000
Douglas Broeker 10,000
TOTAL 187,000
</TABLE>
ITEM 4. PURPOSE OF TRANSACTION.
Shares were issued to Ms. Kelly in consideration of her surrender of
warrants to purchase 1,000 shares of Series C Preferred Stock of Regency from
Statesman. Shares were issued to Messrs. Grossman, Donatelli, and Cooper and to
Love-A-Child, Inc., at the direction of Mr. Grossman. These shares were issued
in return for the surrender by Mr. Grossman of warrants to purchase from
Statesman, 2,000 shares of Series C Preferred Stock of Regency. Shares were
issued to Mr. Broeker in return for certain legal services provided by Mr.
Broeker to Statesman.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the close of business on June 20, 1998, Statesman
beneficially owned 3,126,377 shares (or approximately 24.8% of the pro forma
12,622,089 outstanding shares as of such date) of Regency's $0.40 par value
common stock.
(b) Statesman has sole power to vote or to direct the voting of, and
the sole power to direct the disposition of, the 3,126,377 common, 208,850
Series-C preferred shares and 177 Series-E preferred shares of Regency held by
it. In addition, under the Acquisition Agreement dated June 4, 1993 among
Statesman, Regency and National Resource Development Corporation, Regency's
Board of Directors received irrevocable proxies over 855,991 shares of Regency's
$0.40 par value common stock. Since the Acquisition Agreement gives Statesman
the right to designate the eight persons to fill vacancies on Regency's Board of
Directors until a shareholders meeting, Statesman might be regarded as having
effective current voting control over the 855,991 shares subject to such
irrevocable proxies. These shares, when combined with the 3,126,377 shares of
Regency common stock owned directly by Statesman as of June 20, 1997, would
entitle Statesman to vote a total of 3,982,368 shares, or approximately 31.6% of
the pro forma 12,622,089 outstanding shares as of June 20, 1997.
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ITEM 6. MATERIAL TO BE FILED AS EXHIBITS.
None.
SIGNATURE
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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.
STATESMAN GROUP, INC.
Date: June 29, 1998 /s/ JACQUELINE M. TESKE
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Jacqueline M. Teske, Secretary
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