-----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, SRw4UlKWOP7J8nNQOc4WHyP7/y3wMrgdj6xYEQA9P2G6PTBCzO8PTz8z0ZRQdnHS u2qzU88o8LllYZ6HMC2udQ== 0000950130-02-000606.txt : 20020414 0000950130-02-000606.hdr.sgml : 20020414 ACCESSION NUMBER: 0000950130-02-000606 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020205 GROUP MEMBERS: KNOTT PARTNERS, L.P. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KNOTT DAVID M CENTRAL INDEX KEY: 0000808722 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 485 UNDERHILL BLVD STREET 2: STE 205 CITY: SYOSSET STATE: NY ZIP: 11791-3419 MAIL ADDRESS: STREET 1: 485 UNDERHILL BLVD STREET 2: STE 205 CITY: SYOSSET STATE: NY ZIP: 11791-3419 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BUTLER INTERNATIONAL INC /MD/ CENTRAL INDEX KEY: 0000786765 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 061154321 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38458 FILM NUMBER: 02527182 BUSINESS ADDRESS: STREET 1: 110 SUMMIT AVE CITY: MONTVALE STATE: NJ ZIP: 07645 BUSINESS PHONE: 2015738000 MAIL ADDRESS: STREET 1: 110 SUMMIT AVENUE STREET 2: 110 SUMMIT AVENUE CITY: MONTVALE STATE: NJ ZIP: 07645 FORMER COMPANY: FORMER CONFORMED NAME: NORTH AMERICAN VENTURES INC DATE OF NAME CHANGE: 19920703 SC 13D/A 1 dsc13da.txt AMENDMENT NO 1 TO SC-13D SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1) BUTLER INTERNATIONAL, INC. (Name of Issuer) COMMON STOCK OF $.001 PAR VALUE (Title of Class of Securities) 123649105 (CUSIP Number) DAVID M. KNOTT, 485 Underhill Boulevard, Suite 205, Syosset, New York 11791-3419 (516) 364-0303 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 27, 2001 (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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [x] . 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 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). SCHEDULE 13D CUSIP No. 123649105 ================================================================================ 1 Name of Reporting Person David M. Knott I.R.S. Identification No. of above Person (Entities Only) - ----------- -------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [x] -------------------------------------------------------------------- 3 SEC Use Only - ----------- -------------------------------------------------------------------- 4 Source of Funds* OO - ----------- -------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------- 6 Citizenship or Place of Organization U.S.A. - ----------- -------------------------------------------------------------------- Number of 7 Sole Voting Power 528,700 Shares Beneficially ----------------------------------------------------------- Owned by 8 Shared Voting Power 325,000 Each ----------------------------------------------------------- Reporting 9 Sole Dispositive Power 528,700 Person ----------------------------------------------------------- With 10 Shared Dispositive Power 346,800 - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 875,500 - ---------- -------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [_] - ---------- -------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 9.3% - ---------- -------------------------------------------------------------------- 14 Type of Reporting Person* IN ========== ==================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 7 Pages SCHEDULE 13D CUSIP No. 123649105 ================================================================================ 1 Name of Reporting Person Knott Partners, L.P. I.R.S. Identification No. TIN# 11-2835793 of above Person (Entities Only) - ----------- -------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a)[_] (b)[X] - ----------- -------------------------------------------------------------------- 3 SEC Use Only - ----------- -------------------------------------------------------------------- 4 Source of Funds* WC - ----------- -------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(d) or 2(e) - ----------- --------------------------------------- ---------------------------- 6 Citizenship or Place of Organization U.S.A. - ----------- -------------------------------------------------------------------- Number of 7 Sole Voting Power 528,700 Shares -------------------------------------------- Beneficially 8 Shared Voting Power -0- Owned by ------------------------------------------- Each 9 Sole Dispositive Power 528,700 Reporting -------------------------------------------- Person 10 Shared Dispositive Power -0- With -------------------------------------------- - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 528,700 - ----------- -------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [_] -------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 5.6% - ----------- -------------------------------------------------------------------- 14 Type of Reporting Person* PN =========== ==================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 7 Pages SCHEDULE 13-D Item 1. Security and Issuer The class of securities to which this statement relates is the common stock, par value $.001 per share (the "Common Stock") of Butler International, Inc. (the "Company"), the principal executive offices of which are located at 110 Summit Avenue, Montvale, New Jersey 07645. Item 2. Identity and Background This statement is being filed by (i) David M. Knott, an individual whose business address is 485 Underhill Boulevard, Syosset, New York 11791 and (ii) Knott Partners, L.P., whose business address is also 485 Underhill Boulevard, Syosset, New York 11791. David M. Knott and Knott Partners, L.P. are referred to herein collectively as the "Reporting Persons." Mr. Knott currently serves as General Partner of Knott Partners, L.P. (the "Partnership"), a New Jersey limited partnership that invests in securities that are sold in the public markets. The Partnership's principal activity is the acquisition of long and short positions in equity securities of publicly traded U.S. and foreign securities. The Partnership has the authority to employ various trading and hedging techniques and strategies in connection therewith. Mr. Knott is the sole general partner of the Partnership. He is also the sole shareholder, Director and President of Dorset Management Corporation, a New York corporation ("Dorset") which provides investment management services to a limited number of foreign and domestic individuals and entities (the "Managed Accounts"). The business address of both the Partnership and Dorset is 485 Underhill Boulevard, Syosset, New York 11791. During the last five years, neither Mr. Knott nor any of the other persons named above has been convicted in any criminal proceeding, nor has he been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was or is subject to any 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. The filing of any Schedule 13D and amendments thereto does not constitute an admission that any of the Reporting Persons is a member of a "group" for purposes of the Securities Exchange Act of 1934, as amended, or the rules promulgated thereunder or for any other purpose whatsoever. Each of the Reporting Persons expressly disclaims beneficial ownership of any Common Stock beneficially owned by the other Reporting Persons. Mr. Knott is a citizen of the United States of America. Item 3. Source and Amount of Funds or Other Consideration The source of funds used in making each of the purchases of the Common Stock purchased indirectly by Mr. Knott through the Partnership and the Managed Accounts was the portfolio assets of the Partnership and each of the Managed Accounts on whose behalf Mr. Knott has purchased the Common Stock. None of the Managed Accounts owns more than five percent of the Common Stock individually. The aggregate amount of consideration used by Reporting Persons in making such purchases was $2,663,421. This amount includes all purchases of the Common Stock made by the Reporting Persons. Page 4 of 7 Pages Item 4. Purpose of Transaction The acquisition of the Common Stock by the Reporting Persons was originally made solely for investment purposes, and not with a view towards influencing any extraordinary corporate transaction, any change in the Company's board of directors or management, or any other change in the Company's business, corporate structure or capitalization. This filing is being made because Mr. Knott has become unhappy with the performance of management and intends to propose his own candidate for board membership at the next annual meeting of shareholders. Mr. Knott feels that three of the five directors are either related to and/or are law partners of the company's outside legal counsel. Further, Mr. Knott feels that they are dismissive of the concerns of the public stockholders. Therefore, in order to try to rectify this situation and provide an independent voice to represent the average public stockholder, Mr. Knott intends to propose a candidate with experience in the telecommunications industry, extensive turnaround experience and a proven ability to create shareholder value. Item 5. Interest in Securities of the Company (a) Pursuant to Rule 13d-3, Mr. Knott may be deemed to own beneficially 875,500 shares of Common Stock, which represents 9.3% of all outstanding Common Stock and includes all of the shares beneficially owned or deemed to be beneficially owned by the other Reporting Person. Pursuant to Rule 13d-3, the Partnership may be deemed to own beneficially 528,700 shares of Common Stock, which represents 5.6% of all outstanding Common Stock. Each of Mr. Knott and the Partnership disclaims beneficial ownership of the securities beneficially owned by the other Reporting Person. (b) Mr. Knott individually has the sole power to vote and to dispose of 528,700 shares of Common Stock held in the Partnership's account. As President of Dorset, Mr. Knott shares (i) with each of Dorset's clients the power to dispose of that part of the 346,800 Client Shares held in such clients' respective accounts and (ii) with certain of Dorset's clients the power to vote that portion of the 325,000 Client Shares held in their respective accounts. The Partnership (except through its sole general partner, Mr. Knott) neither holds nor shares with any person the power to vote or to dispose of the Company's Common Stock. (c) Each transaction in the Common Stock made by the Reporting Persons since the most recent filing on Schedule 13D is described on Schedule 1 annexed hereto. Except as indicated on Schedule 1, all such transactions were effected in the open market in ordinary brokerage transactions through various broker-dealer firms. (d) Of the 875,500 shares of Common Stock beneficially owned by Mr. Knott, 346,800 shares are owned on behalf of other persons or entities having the right to receive and the power to direct the receipt of dividends from, and proceeds from the sale of, such 346,800 shares of Common Stock. No individual person or entity has such right with regard to greater than five percent of the Common Stock. (e) Not applicable. Page 5 of 7 Pages Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company. Not applicable. Item 7. Materials to be filed as Exhibits. Not applicable. 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. By: /s/David M. Knott ------------------------------ David M. Knott KNOTT PARTNERS,L.P. By: /s/David M. Knott ------------------------------- David M. Knott, General Partner Dated: February 5, 2002 Page 6 of 7 Pages
- -------------------------------------------------------------------------------------------------------------------- Schedule 1 - -------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- Transaction Person Named in Item 5, Transaction Type Number of Price per Share Date Paragraph (a) Shares - -------------------------------------------------------------------------------------------------------------------- 12/26/01 Mr. Knott/Partnership Open Market Purchase 23,000 $2.38 - -------------------------------------------------------------------------------------------------------------------- 12/27/01 Mr. Knott/Partnership Open Market Purchase 46,300 $2.76 - -------------------------------------------------------------------------------------------------------------------- 01/04/02 Mr. Knott/Partnership Open Market Purchase 10,000 $2.42 - -------------------------------------------------------------------------------------------------------------------- 01/08/02 Mr. Knott/Partnership Open Market Purchase 2,600 $2.45 - -------------------------------------------------------------------------------------------------------------------- 01/15/02 Mr. Knott/Partnership Open Market Purchase 3,400 $2.41 - -------------------------------------------------------------------------------------------------------------------- 01/17/02 Mr. Knott/Partnership Open Market Purchase 2,000 $2.43 - --------------------------------------------------------------------------------------------------------------------
Page 7 of 7 Pages -----END PRIVACY-ENHANCED MESSAGE-----