-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, M8cazZ1gROSKIuVL+IztQ+5SW5r1masHMqAt6NTpOVZZMGJb3wW8d+/O1LbXXZPq qPpP6AuwDwgADY8dt7WeGg== 0000914121-98-000742.txt : 19980917 0000914121-98-000742.hdr.sgml : 19980917 ACCESSION NUMBER: 0000914121-98-000742 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19980916 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WESTMORELAND COAL CO CENTRAL INDEX KEY: 0000106455 STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE MINING [1220] IRS NUMBER: 231128670 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-12668 FILM NUMBER: 98710318 BUSINESS ADDRESS: STREET 1: 2 NORTH CASCADE AVENUE 14TH FLOOR STREET 2: 200 S BROAD ST CITY: COLORADO SPRINGE STATE: CO ZIP: 80903 BUSINESS PHONE: 7194422600 MAIL ADDRESS: STREET 1: 2 N CASCADE AVE STREET 2: # 14THFL CITY: COLORADO SPRINGS STATE: CO ZIP: 80903-1614 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 2127600814 MAIL ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 SC 13D 1 SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Westmoreland Coal Company - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $2.50 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 960878106 - -------------------------------------------------------------------------------- (CUSIP Number) Louis J. Bevilacqua, Esq. Cadwalader, Wickersham & Taft 100 Maiden Lane New York, New York 10038 (212) 504-6057 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 3, 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 |_|. 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). CUSIP No. 960878106 1 NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3688497 - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------- ------------------------------------------------------------------------ 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 346,290 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY ------ -------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 346,290 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 346,290 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.97% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN 1 NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value L.P. I S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3953291 - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------- ------------------------------------------------------------------------ 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 245,791 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY ------ --------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 245,791 PERSON WITH ------ -------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 245,791 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.53% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN 1 NAME OF REPORTING PERSON Wynnefield Small Cap Value Offshore Fund Ltd S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------- ------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------- ------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - --------------------- ------ --------------------------------------------------- 7 SOLE VOTING POWER 146,800 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY ------ ---------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 146,800 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 146,800 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.11% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN This Amendment No. 2 to Schedule 13D amends Items 2, 3, 5 and 7 of the Schedule 13D, dated January 23, 1997, as amended by Amendment No. 1 thereto, dated May 1, 1997, (as amended, the "Existing Schedule 13D") filed by the Reporting Person to reflect subsequent purchases and dispositions of Common Stock by Partnership, Partnership I and Offshore Fund. Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Existing Schedule 13D. Item 2. Identity and Background. Item 2 is amended to provide in its entirety as follows: (a) The persons filing this statement are Wynnefield Partners Small Cap Value L.P. I, a limited partnership organized under the laws of the State of Delaware ("Partnership I"), Wynnefield Partners Small Cap Value L.P., a limited partnership organized under the laws of the State of Delaware ("Partnership"), and Wynnefield Small Cap Offshore Fund Ltd, a partnership organized under the laws of the Cayman Islands ("Offshore Fund"), (Partnership I, Partnership and Offshore Fund, collectively, the "Reporting Person"). (b) The address of each Reporting Person's principal business and principal office is One Penn Plaza, Suite 4720, New York, New York 10119. (c) The principal business of each Reporting Person is that of acting as a private investment firm. (d) During the last five years, no Reporting Person has been convicted in a criminal proceeding. (e) During the last five years, no Reporting Person has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. Item 3 is amended by appending the following thereto: The source of the $183,600 used by Partnership I to purchase 20,400 depository shares, which are convertible into 34,844 shares of Common Stock, was its working capital. The source of the $153,000 used by Partnership to purchase 17,000 depository shares, which are convertible into 29,037 shares of Common Stock, was its working capital. The source of the $81,000 used by Offshore Fund to purchase 9,000 depository shares, which are convertible into 15,372 shares of Common Stock, was its working capital. No funds were borrowed by any of Partnership I, Partnership or Offshore Fund in connection with its purchases of depository shares. Item 5. Interest in Securities of the Issuer. Item 5(a) is amended by appending the following: As of the date of this Amendment No. 2: Partnership I is the beneficial owner of 245,791 shares of Common Stock, or 3.53% of the outstanding Common Stock; Partnership is the beneficial owner of 346,290 shares of Common Stock, or 4.97% of the outstanding Common Stock; Offshore Fund is the beneficial owner of 146,800 shares of Common Stock, or 2.11% of the outstanding Common Stock; and the Reporting Person is the beneficial owner of 738,881 shares of Common Stock, or 10.61% of the outstanding Common Stock. Item 5(b) is amended by appending the following: As of the date of this Amendment No. 2: Partnership I has the sole power to vote, or to direct the vote of, 245,791 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 245,791 shares of Common Stock; Partnership has the sole power to vote, or to direct the vote of, 346,290 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 346,290 shares of Common Stock; Offshore Fund has the sole power to vote, or to direct the vote of, 146,800 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 146,800 shares of Common Stock; and the Reporting Person has the sole power to vote, or to direct the vote of, 738,881 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 738,881 shares of Common Stock. Item 5(c) is amended by appending the following: No. of Shares Reporting Person Purchased Price per Date (Disposed) Share ---- ---------- ----- Partnership I................. 09/02/98 (19,000) $1.4375 09/02/98 34,844(a) 5.2692(a) Partnership................... 09/02/98 (15,000) 1.4375 09/02/98 22,375(b) 5.2693(b) 09/03/98 6,662(c) 5.2687(c) Offshore Fund................. 09/03/98 (8,300) 1.4375 09/03/98 15,372(d) 5.2693(d) - ------------- (a) Represents 20,400 depository shares purchased for $183,600. (b) Represents 13,100 depository shares purchased for $117,900. (c) Represents 3,900 depository shares purchased for $35,100. (d) Represents 9,000 depository shares purchased for $81,000. Item 7. Material to Be Filed as Exhibits. Exhibit 99.1 -- Joint Filing Agreement. 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. Date: September 16, 1998 WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS --------------- Nelson Obus Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS --------------- Nelson Obus Managing Member WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD By: WYNNEFIELD CAPITAL, INC., as general partner By: /S/ NELSON OBUS --------------- Nelson Obus President EX-99.1 2 JOINT FILING AGREEMENT JOINT FILING AGREEMENT The Amendment No. 2 to Schedule 13D, relating to the common stock, par value $2.50 per share, of Westmoreland Coal Company, dated September 16, 1998, is filed on behalf of Wynnefield Partners Small Cap Value L.P., Wynnefield Partners Small Cap Value L.P. I, Channel Partnership II L.P., Wynnefield Small Cap Value Offshore Fund Ltd and Nelson Obus. Dated: September 16, 1998 WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS --------------- Nelson Obus Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS --------------- Nelson Obus Managing Member WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD By: WYNNEFIELD CAPITAL, INC., as general partner By: /S/ NELSON OBUS --------------- Nelson Obus President -----END PRIVACY-ENHANCED MESSAGE-----