-----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, KQCYItjnJIZ4B5CEwt7o9T4945rRj3OV2TjWmjnDZOS6/ln/qQYPcVOkcJcQF0N1 wKKwI4dfNRxbE74XJNSsvw== 0000950117-97-000778.txt : 19970502 0000950117-97-000778.hdr.sgml : 19970502 ACCESSION NUMBER: 0000950117-97-000778 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19970501 SROS: NYSE GROUP MEMBERS: CHANNEL PARTNERSHIP II. L.P. GROUP MEMBERS: VALUE OFFSHORE FUND, LTD. GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE LP 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-12668 FILM NUMBER: 97593497 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/A 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/A 1 WYNNEFIELD PARTNERS SMALL CAP VALUE LP EL AL 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 (Amendment No. 1) Westmoreland Coal Company ------------------------- (Name of Issuer) Common Stock, $2.50 par value ------------------------------ (Title of Class of Securities) 960878106 --------- (CUSIP Number) Martin Todtman, Esq. Todtman, Young, Nachamie, Hendler & Spizz, P.C. 425 Park Avenue New York, New York 10022 (212) 754-9400 ------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 11, 1997 -------------- (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. (Continued on following pages) Page 1 of 8 pages Page 2 of 8 Pages SCHEDULE 13D CUSIP No. 960878106 - ------------------------------------------------------------ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Wynnefield Partners Small Cap Value, L.P. - 13-3688497 - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] See Item 5 (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 531,700 See Item 5 --------------------------------------------------- NUMBER 8) SHARED VOTING POWER OF None. SHARES --------------------------------------------------- BENEFICIALLY 9) SOLE DISPOSITIVE POWER OWNED BY 531,700 See Item 5 EACH --------------------------------------------------- REPORTING 10) SHARED DISPOSITIVE POWER PERSON None. WITH - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 531,700 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) 7.63% See Item 5 - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON PN Page 2 of 8 pages Page 3 of 8 Pages SCHEDULE 13D CUSIP No. 960878106 - ------------------------------------------------------------ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Wynnefield Partners Small Cap Value Offshore Fund, Ltd. - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] See Item 5 (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 Cayman Islands - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 160,000 See Item 5 --------------------------------------------------- NUMBER 8) SHARED VOTING POWER OF None. SHARES --------------------------------------------------- BENEFICIALLY 9) SOLE DISPOSITIVE POWER OWNED BY 160,000 See Item 5 EACH --------------------------------------------------- REPORTING 10) SHARED DISPOSITIVE POWER PERSON None. WITH - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 160,000 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) 2.30% See Item 5 - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON CO Page 3 of 8 pages Page 4 of 8 Pages SCHEDULE 13D CUSIP No. 960878106 - ------------------------------------------------------------ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Channel Partnership II, L.P. - 22-3215653 - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] See Item 5 (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 New York - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER -0- See Item 5 --------------------------------------------------- NUMBER 8) SHARED VOTING POWER OF None. SHARES --------------------------------------------------- BENEFICIALLY 9) SOLE DISPOSITIVE POWER OWNED BY -0- See Item 5 EACH --------------------------------------------------- REPORTING 10) SHARED DISPOSITIVE POWER PERSON None. WITH - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0- 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) -0- See Item 5 - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON PN Page 4 of 8 pages Page 5 of 8 Pages This statement amends and supplements the information provided in the Schedule 13D, dated January 9, 1997 (the "Schedule 13D"), filed by Wynnefield Partners Small Cap Value, L.P. and Channel Partnership II, L.P. with respect to the Common Stock, par value $2.50 (the "Common Stock"), of Westmoreland Coal Company, a Delaware corporation (the "Company"). Notwithstanding this Amendment No. 1, the Schedule 13D speaks as of its date. Capitalized terms used without definition have the meanings ascribed to them in the Schedule 13D. I. Item 2 of the Schedule 13D "Identity and Background" is amended and restated in its entirety as follows: "This statement is being filed by Wynnefield Partners Small Cap Value, L.P., a limited partnership formed under the laws of the State of Delaware (the "Partnership"), on behalf of the Partnership, Wynnefield Small Cap Value Offshore Fund, Ltd. ("Offshore Fund"), an exempted company formed under the laws of the Cayman Islands whose investment manager is Wynnefield Capital, Inc., a Delaware corporation, whose sole stockholders are Nelson Obus and Joshua Landes ("Wynnefield Capital"), and Channel Partnership II, L.P., a partnership formed under the laws of the State of New York ("Channel") ("Offshore Fund," "Channel" and "Partnership" are collectively referred to as the "Reporting Person"). The principal business of the Reporting Person is investments and the address of its principal offices is One Penn Plaza, Suite 4720, New York, New York 10119. Nelson Obus and Joshua Landes are the general partners of the Partnership and directors of the Offshore Fund and their principal business address is the same as the Partnership's. The principal occupations of Messrs. Obus and Landes are acting as the general partners and managing investments of the Partnership. Mr. Obus is also the general partner of Channel. During the past five years, neither the Partnership, Offshore Fund, Channel, Mr. Obus nor Mr. Landes (a) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which it or he 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. Messrs. Obus and Landes are citizens of the United States." II. Item 3 of the Schedule 13D "Source and Amount of Funds or Other Consideration" is amended by the addition of the following: "50,000 Shares of the Issuer were purchased by the Partnership for cash aggregating $27,000 including commissions. The cash was provided from the working capital of the Partnership. 160,000 Shares of the Issuer were purchased by the Offshore Fund for cash aggregating $86,825.00, including commissions, which was provided from its working capital." III. Item 4 of the Schedule 13D "Purpose of the Transaction" is amended in its entirety and restated as follows: "All Shares of the Issuer acquired by the Reporting Person were purchased for investment purposes." Page 5 of 8 pages Page 6 of 8 Pages IV. Items 5(a) and 5(b) of the Schedule 13D "Interest of the Transaction" are amended in their entirety and restated as follows: "(a) The Partnership owns 531,700 Shares of the Issuer and Offshore Fund owns 160,000 Shares of the Issuer (together, the "Securities"). The Securities represent approximately 9.93% of the Common Stock of the Issuer outstanding as of February 26, 1997, based on the Issuer's Form 10-K for the fiscal year ended December 31, 1996. (b) Messrs. Obus and Landes, the general partners of the Partnership, have the sole power to vote, or to direct the vote, or to direct the sale of, the Securities held by the Partnership. Messrs. Obus and Landes, as the general partners of the Partnership, have the sole power to receive or to direct the receipt of the proceeds from the sale of the Securities or any dividends paid with respect to the Securities held by the Partnership. Mr. Obus had the same such powers with respect to the Securities previously owned by Channel and Wynnefield Capital has the same such powers with respect to the Securities owned by the Offshore Fund." Item 5(c) of the Schedule 13D "Interest of the Transaction" is amended by the addition of the following: "(c) On April 11, 1997, the Partnership purchased 50,000 Shares of the Issuer for a price of $0.54 per Share. On April 8, 1997, the Offshore Fund purchased 10,000 Shares of the Issuer from Channel for $0.5825 per Share. On April 11, 1997, the Offshore Fund purchased 150,000 Shares of the Issuer for $0.54 per Share. Channel has not purchased any Shares of the Issuer within the past 60 days." V. Item 6 of the Schedule 13D "Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer" is amended in its entirety and restated as follows: "Neither the Partnership, Offshore Fund, Channel, Mr. Obus nor Mr. Landes has any contracts, arrangements, understandings or relationships (legal or otherwise) with respect to the Securities. None of the Securities is pledged or otherwise subject to contingency, the occurrence of which would give another person voting or investment power over the Securities." IV. Item 7 of the Schedule 13 "Materials to be Filed as Exhibits" is amended in its entirety and restated as follows: "Exhibit 1 Agreement of joint filing pursuant to Rule 13d(1)-f(1) promulgated under the Securities & Exchange Act of 1934, as amended." Page 6 of 8 pages Page 7 of 8 Pages 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. WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. Dated: May 1, 1997 By: /s/ Nelson Obus -------------------------------- Nelson Obus, General Partner WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. By: /s/ Joshua Landes -------------------------------- Joshua Landes, Director CHANNEL PARTNERSHIP II, L.P. By: /s/ Nelson Obus -------------------------------- Nelson Obus, General Partner Page 7 of 8 pages EX-99 2 EXHIBIT 1 Page 8 of 8 pages EXHIBIT 1 --------- AGREEMENT OF JOINT FILING Pursuant to Rule 13d-1(f)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to file with the Securities and Exchange Commission the Statement on Schedule 13D (the "Statement") to which this Agreement is attached as an exhibit, and agree that such Statement, as so filed, is filed on behalf of each of them. IN WITNESS WHEREOF, the undersigned have executed this Agreement. Dated: May 1, 1997 WYNNEFILED PARTNERS SMALL CAP VALUE, L.P. By: /s/ Nelson Obus -------------------------- Nelson Obus, General Partner WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. By: /s/ Joshua Landes -------------------------- Joshua Landes, Director CHANNEL PARTNERSHIP II, L.P. By: /s/ Nelson Obus -------------------------- Nelson Obus, General Partner -----END PRIVACY-ENHANCED MESSAGE-----