-----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, J/Jpm2ZNANBy+nU7EI2sL3N1PQxaV3ej3gbPQz2Ea7C1/OeBu337lPKw7YiN8noL MOp1TcFB97JKfDZRXPUuKw== 0001044197-00-000024.txt : 20000216 0001044197-00-000024.hdr.sgml : 20000216 ACCESSION NUMBER: 0001044197-00-000024 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000215 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OMNOVA SOLUTIONS INC CENTRAL INDEX KEY: 0001090061 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS CHEMICAL PRODUCTS [2890] IRS NUMBER: 341897652 STATE OF INCORPORATION: OH FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-56999 FILM NUMBER: 545020 BUSINESS ADDRESS: STREET 1: 175 GHENT RD CITY: FAIRLAWN STATE: OH ZIP: 44333 BUSINESS PHONE: 3308694200 MAIL ADDRESS: STREET 1: 175 GHENT RD CITY: FAIRLAWN STATE: OH ZIP: 44333 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: REICH & TANG ASSET MANAGEMENT LP CENTRAL INDEX KEY: 0001044197 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133778739 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 600 FIFTH AVE CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2128305200 MAIL ADDRESS: STREET 1: 600 FIFTH AVE CITY: NEW YORK STATE: NY ZIP: 10020 SC 13G 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Omnova Solutions, Inc. ____________________________________________________________ (Name of Issuer) Common Stock, $0.10 per share par value ____________________________________________________________ (Title of Class of Securities) 682129 1 01 _____________________ (CUSIP Number) Check the following box if a fee is being paid with this statement _______ A fee is not required only if the filing 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). *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). SEC 1745 (5-87) 1 CUSIP No. 682129 10 1 13G Page 2 of 5 Pages - ------------------------ ------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON REICH & TANG ASSET MANAGEMENT L.P. 13-3778739 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* ---------- ---------- (a) (b) ---------- ---------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------- BENEFICIALLY -------------------------------------------- OWNED BY EACH 6 SHARED VOTING POWER REPORTING PERSON 2,397,700 WITH -------------------------------------------- -------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 -------------------------------------------- -------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,397,700 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,397,700 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.7% - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 2 Item 1 (a). Name of Issuer The name of the issuer, to whose class of equity security this Schedule is Omnova Solutions, Inc. Item 1 (b). Address of Issuer's Principal Executive Offices The address of the Issuer's principal offices is 175 Ghent Road, Fairlawn, Ohio 44333. Item 2 (a). Name of Person Filing The person filing this Schedule is Reich & Tang Asset Management L.P. (the "Reporting Person") Item 2 (b). Address of Principal Business Office or, if None, Residence The principal business address of the Reporting Person is 600 Fifth Avenue, New York, NY 10020. Item 2 (c). Citizenship The Reporting Person is a United States citizen. Item 2 (d). Title of Class of Securities The class of equity security to which this schedule relates is the Issuer's Common Stock, par value $0.10 (the "Common Stock"). Item 2 (e). CUSIP No. The CUSIP number assigned to the Common Stock is 682129 10 1 Item 3. If this statement is Filed Pursuant to Rules 13d-1(b), or 13d-2(b), Check Whether the Person Filing is a Reich & Tang Asset Management L.P. is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. Item 4. Ownership The shares of the Common Stock owned beneficially owned by Reich & Tang Asset Management L.P. and covered by this Schedule amount to 2,397,700 shares, constituting 5.7% of the outstanding shares of the Common Stock. Reich & Tang Asset Management L.P. has the shared power to vote and direct the vote for 2,397,700 shares of Common Stock and to dispose of or direct the disposition of 2,397,700 shares of Common Stock. Item 5. Ownership of Five Percent or Less of a Class Not applicable. 3 Item 6. Ownership of More than Five Percent on Behalf of Another Person The shares of Common Stock beneficially owned by Reich & Tang Asset Management L.P. were purchased by Reich & Tang Asset Management L.P. on behalf of certain accounts for which Reich & Tang Asset Management L.P. provides investment advice on a fully discretionary basis. This entity has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, shares of the Common Stock. None of the above mentioned entity has a greater than 5% interest in the Common Stock. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not applicable. Item 8. Identification and Classification of Members of Group Not applicable. Item 9. Notice of Dissolution of Group Not applicable. 4 CERTIFICATION The undersigned certifies that to his/her best belief and knowledge, the securities reported herein were acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer or such securities and were not acquired in connection with or as a participant in any transaction having such purpose of effect. February 15, 2000 REICH & TANG ASSET MANAGEMENT L.P. BY /s/Lorraine C. Hysler Lorraine C. Hysler Secretary Reich & Tang Asset Management L.P. 5 -----END PRIVACY-ENHANCED MESSAGE-----