-----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, MTuU7qvv8z20Ae86AjlZpxlalxhpIQTfhmHUsAEynMPzxiRvX9Idr8p2VnFqJdVm N0KOx9vx95nltLscETzM9A== 0000893838-06-000147.txt : 20060914 0000893838-06-000147.hdr.sgml : 20060914 20060914172133 ACCESSION NUMBER: 0000893838-06-000147 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060914 DATE AS OF CHANGE: 20060914 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SIZELER PROPERTY INVESTORS INC CENTRAL INDEX KEY: 0000805419 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 721082589 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38038 FILM NUMBER: 061091592 BUSINESS ADDRESS: STREET 1: 2542 WILLIAMS BLVD CITY: KENNER STATE: LA ZIP: 70062 BUSINESS PHONE: 5044716200 MAIL ADDRESS: STREET 1: 2542 WILLIAMS BLVD CITY: KENNER STATE: LA ZIP: 70062 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: REVENUE PROPERTIES CO LTD CENTRAL INDEX KEY: 0000083509 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 55 CITY CENTRE DRIVE, SUITE 800 CITY: MISSISSAUGA STATE: A6 ZIP: L5B 1M3 BUSINESS PHONE: 905-281-3800 MAIL ADDRESS: STREET 1: 55 CITY CENTRE DRIVE, SUITE 800 CITY: MISSISSAUGA STATE: A6 ZIP: L5B 1M3 SC 13D/A 1 rpcl13d409132006.txt SCHEDULE 13D AMENDMENT NO. 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4)* Sizeler Property Investors, Inc. (Name of Issuer) Common Stock, par value $0.00001 per share (Title of Class of Securities) 830137-10-5 (CUSIP Number of Class of Securities) K. (Rai) Sahi Morguard Corporation 55 City Centre Drive, Suite 1000 Mississauga, ON L5B 1M3 (905) 281-4800 Paul Miatello Revenue Properties Company Limited 55 City Centre Drive, Suite 800 Mississauga, ON L5B 1M3 (905) 281-3800 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 13, 2006 (Date of Event which Requires Filing Statement on Schedule 13D) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 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 purposes 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). (Continued on following pages) 2 Schedule 13D CUSIP No. 830137-10-5 - --------- ---------------------------------------------------------------------- (1) Name of Reporting Person Revenue Properties (U.S.) Inc. S.S. or I.R.S. Identification No. of Above Person - --------- ---------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (a) |_| (b) |_| - --------- ---------------------------------------------------------------------- (3) SEC Use Only - --------- ---------------------------------------------------------------------- (4) Source of Funds WC, BK - --------- ---------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware - --------- ---------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned by Each Reporting Person With - -------------------- ----------------- ----------------------------------------- (8) Shared Voting Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (9) Sole Dispositive Power - -------------------- ----------------- ----------------------------------------- (10) Shared Dispositive Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,123,600 - --------- ---------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares |_| - --------- ---------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 9.89% - --------- ---------------------------------------------------------------------- (14) Type of Reporting Person CO - --------- ---------------------------------------------------------------------- 3 Schedule 13D CUSIP No. 830137-10-5 - --------- ---------------------------------------------------------------------- (1) Name of Reporting Person Revenue Properties Company Limited S.S. or I.R.S. Identification No. of Above Person - --------- ---------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (a) |_| (b) |_| - --------- ---------------------------------------------------------------------- (3) SEC Use Only - --------- ---------------------------------------------------------------------- (4) Source of Funds OO - --------- ---------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- (6) Citizenship or Place of Organization Ontario - -------------------- ----------------- ----------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned by Each Reporting Person With - -------------------- ----------------- ----------------------------------------- (8) Shared Voting Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (9) Sole Dispositive Power - -------------------- ----------------- ----------------------------------------- (10) Shared Dispositive Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,123,600 - --------- ---------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares |_| - --------- ---------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 9.89% - --------- ---------------------------------------------------------------------- (14) Type of Reporting Person CO - --------- ---------------------------------------------------------------------- 4 Schedule 13D CUSIP No. 830137-10-5 - --------- ---------------------------------------------------------------------- (1) Name of Reporting Person Morguard Corporation S.S. or I.R.S. Identification No. of Above Person - --------- ---------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (a) |_| (b) |_| - --------- ---------------------------------------------------------------------- (3) SEC Use Only - --------- ---------------------------------------------------------------------- (4) Source of Funds OO - --------- ---------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- (6) Citizenship or Place of Organization Canada - --------- ---------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned by Each Reporting Person With - -------------------- ----------------- ----------------------------------------- (8) Shared Voting Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (9) Sole Dispositive Power - -------------------- ----------------- ----------------------------------------- (10) Shared Dispositive Power 2,123,600 - -------------------- ----------------- ----------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,123,600 - --------- ---------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares |_| - --------- ---------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 9.89% - --------- ---------------------------------------------------------------------- (14) Type of Reporting Person CO - --------- ---------------------------------------------------------------------- 5 This Amendment No. 4 ("Amendment No. 4") amends and supplements the statement on Schedule 13D initially filed by the Reporting Persons on December 19, 2005, as amended by Amendment No. 1 filed on March 14, 2006, Amendment No. 2 filed on August 10, 2006, and Amendment No. 3 filed on August 23, 2006 (the "Statement"). Information reported in the Statement remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment No. 4. Capitalized terms used and not defined in this Amendment No. 4 shall have the meanings set forth in the Statement. Item 4. Purpose of Transaction Item 4 of the Statement is hereby amended and supplemented as follows: On September 13, 2006, RPCL sent a letter to the Company's President, Mr. Thomas A. Masilla, Jr., a copy of which is attached hereto as Exhibit 6. Item 7. Material to Be Filed as Exhibits Exhibit 1 Joint Filing Agreement* Exhibit 2 Letter of Intent dated August 7, 2006** Exhibit 3 Press release dated August 8, 2006** Exhibit 4 Merger Agreement dated August 18, 2006*** Exhibit 5 Press release dated August 21, 2006*** Exhibit 6 Letter to Thomas A. Masilla, Jr. dated September 13, 2006 * Previously filed on March 14, 2006 with Amendment No. 1 to the original Statement on Schedule 13D. ** Previously filed on August 10, 2006 with Amendment No. 2 to the original Statement on Schedule 13D. *** Previously filed on August 23, 2006 with Amendment No. 3 to the original Statement on Schedule 13D. 6 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. Dated: September 14, 2006 MORGUARD CORPORATION By: /s/ K. (Rai) Sahi ----------------------------------------------------- Name: K. (Rai) Sahi Title: C.E.O. REVENUE PROPERTIES COMPANY LIMITED By: /s/ Paul Miatello ----------------------------------------------------- Name: Paul Miatello Title: C.F.O. REVENUE PROPERTIES INC. By: /s/ Paul Miatello ----------------------------------------------------- Name: Paul Miatello Title: Secretary 7 EXHIBIT INDEX Exhibit 1 Joint Filing Agreement* Exhibit 2 Letter of Intent dated August 7, 2006** Exhibit 3 Press release dated August 8, 2006** Exhibit 4 Merger Agreement dated August 18, 2006*** Exhibit 5 Press release dated August 21, 2006*** Exhibit 6 Letter to Thomas A. Masilla, Jr. dated September 13, 2006 * Previously filed on March 14, 2006 with Amendment No. 1 to the original Statement on Schedule 13D. ** Previously filed on August 10, 2006 with Amendment No. 2 to the original Statement on Schedule 13D. *** Previously filed on August 23, 2006 with Amendment No. 3 to the original Statement on Schedule 13D. 8 EX-99 2 rpcl13dexhibit9909132006.txt EXHIBIT 5 EXHIBIT 6 Letter to Thomas A. Masilla Jr. REVENUE PROPERTIES COMPANY LIMITED BY FACSIMILE September 13, 2006 CONFIDENTIAL Sizeler Property Investors, Inc. 2542 Williams Boulevard Kenner, Louisiana 70062 Attention: Mr. Thomas A. Masilla, Jr., President Dear Mr. Masilla: Re: Compson Holding Corp. Proposal We have received from your counsel a copy of the proposal made by Compson Holding Corp. (the "Proposal"), which we understand was made on the evening of September 12, 2006. We understand that you will need to work through the Proposal with your Board and with your legal and financial advisers. We have now had the opportunity to review the Proposal and the definition of "Company Superior Proposal" in Section 6.4 of our Agreement and Plan of Merger, dated as of August 18, 2006 (the "Merger Agreement"). Having done so, we wanted to share with you our view that the Proposal would not constitute a "Company Superior Proposal" under the Merger Agreement. Among other relevant aspects of the Proposal, we would note the following: (1) the Proposal is non-binding and subject to negotiation of definitive documentation, (2) the Proposal relates to a purchase of assets only (and not a purchase of the public entity) and, as such, (i) Sizeler (and indirectly its stockholders) would continue to be responsible for significant wind-up costs, (ii) the actual receipt of consideration by Sizeler's stockholders would necessarily be subject to increased risk and delay, and (iii) Sizeler's stockholders would, we understand, be liable as transferees under State law for any liabilities of Sizeler that are not assumed or paid off by the purchaser under the Proposal, (3) while the Proposal refers to debt financing, a commitment letter was not included with the Proposal, (4) the Proposal appears to suggest that only $20 million of equity would be available for the transaction, (5) the Proposal calls for a break-up fee of $12 million, (6) the Proposal includes additional closing conditions relating to asset conveyances and estoppel certificates, and (7) while the Proposal does not seem to contemplate a "diligence out" in the definitive documentation, there appears to be an information review process built into the Proposal. We look forward to continuing to work with you to bring about a successful closing to our merger transaction. Sincerely, /s/ K. (Rai) Sahi -------------------------- K. (Rai) Sahi Chairman & CEO cc: Robert W. Smith, Jr., Esq., DLA Piper Rudnick Gray Cary US LLP 2 -----END PRIVACY-ENHANCED MESSAGE-----