-----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, DWAj62VQQ4dUzbMInKDbJjkC941bxAwihpz10pLbAk9G+DWIP1JPoBNbfnbj+nV2 Zfi/GfFgcvMqWmwBO2JbZw== 0000950116-97-001326.txt : 19970721 0000950116-97-001326.hdr.sgml : 19970721 ACCESSION NUMBER: 0000950116-97-001326 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970718 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SL INDUSTRIES INC CENTRAL INDEX KEY: 0000089270 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 210682685 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-34262 FILM NUMBER: 97642405 BUSINESS ADDRESS: STREET 1: 520 FELLOWSHIP ROAD STREET 2: STE 306C CITY: MT LAUREL STATE: NJ ZIP: 08054 BUSINESS PHONE: 6097271500 MAIL ADDRESS: STREET 1: 520 FELLOWSHIP ROAD STREET 2: STE 306C CITY: MT LAUREL STATE: NJ ZIP: 08054 FORMER COMPANY: FORMER CONFORMED NAME: SGL INDUSTRIES INC DATE OF NAME CHANGE: 19841008 FORMER COMPANY: FORMER CONFORMED NAME: GL INDUSTRIES INC DATE OF NAME CHANGE: 19710111 FORMER COMPANY: FORMER CONFORMED NAME: GL ELECTRONICS CO INC DATE OF NAME CHANGE: 19670928 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: UM INVESTMENT CORP CENTRAL INDEX KEY: 0001019789 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 510266463 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 103 SPRINGER BLDG CONCORD PLAZA STREET 2: 3411 SILVERSIDE RD CITY: WILMINGTON STATE: DE ZIP: 19810 BUSINESS PHONE: 6093542200 MAIL ADDRESS: STREET 1: 103 SPRINGER BLDG CONCORD PLAZA STREET 2: 3411 SILVERSIDE RD CITY: WILMINGTON STATE: DE ZIP: 19810 SC 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* SL INDUSTRIES, INC. ------------------- (Name of Issuer) Common Stock ------------------------------ (Title of Class of Securities) 784413106 (CUSIP Number) James H. Carll, Archer & Greiner, One Centennial Square, Haddonfield, NJ 08033 (609-795-2121) -------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 18, 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-l(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with this statement [ ]. 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). (Continued on the following pages) Page 1 of 5 Pages - ------------------------------------------------------------------------------- CUSIP NO. 784413106 - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS UM Investment Corporation 51-0266463 - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OR ORGANIZATION Delaware - ------------------------------------------------------------------------------ NUMBER OF | 7 | SOLE VOTING POWER SHARES | | 370,500 BENEFICIALLY | | OWNED BY | 8 | SHARED VOTING POWER EACH | | -- REPORTING | 9 | SOLE DISPOSITIVE POWER PERSON WITH | | 370,500 | 10 | SHARED DISPOSITIVE POWER | | -- - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 370,500 - ------------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------ 2 - ------------------------------------------------------------------------------- CUSIP NO. 784413106 - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS UM Holdings, Ltd. 22-1982496 - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OR ORGANIZATION New Jersey - ------------------------------------------------------------------------------ NUMBER OF | 7 | SOLE VOTING POWER SHARES | | Zero BENEFICIALLY | | OWNED BY | 8 | SHARED VOTING POWER EACH | | Zero REPORTING | 9 | SOLE DISPOSITIVE POWER PERSON WITH | | Zero | 10 | SHARED DISPOSITIVE POWER | | Zero - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Zero - ------------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Zero - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON HC and CO - ------------------------------------------------------------------------------ 3 The Statement on Schedule 13-D dated July 18, 1996, as heretofore amended, is hereby further amended as follows: Item 4 - Purpose of Transactions. Item 4 of Schedule 13-D is amended by adding the following additional paragraphs: UM believes that the market price of SL's Common Stock does not reflect SL's true value. UM has studied the feasibility of various strategic approaches available to SL to achieve full value for SL's shareholders, including a restructuring of SL involving the sale or spin-off of non-core units, with the capital derived therefrom used to augment and expand SL's remaining divisions, or alternatively a sale of the entire company. This study included consulting with a bank as to the ability of a third party to finance an acquisition of SL at a premium to current market prices. UM would require additional information before it could form any definitive conclusions with respect to these matters. In June 1997, UM forwarded a letter to the members of the Board of Directors of SL, communicating its thoughts and requesting access to additional information. UM has received a response from SL, indicating that such access will not be provided to UM. In addition, on July 2, 1997, SL issued a public announcement that the Board of Directors has authorized repurchase of up to 1,000,000 shares of SL common stock in open market transactions. In light of the foregoing, UM is in the process of re-evaluating alternative courses of action available to it with respect to SL and the SL Common Stock. While UM has not yet determined to do so, UM may determine itself to seek control of SL or to seek a third party which alone or together with UM would seek to gain control of SL, in either case for the purpose of pursuing a restructuring of SL as discussed above. If UM determines to pursue this alternative, it would consider, depending on price and availability, purchasing additional shares of SL from time to time in open market purchases or privately negotiated transactions, engaging, either alone or with others, in a solicitation of proxies to elect nominees as directors of SL and/or making a tender offer for a portion of SL's shares. In the alternative, UM may seek to sell its shares of SL stock in the open market or in privately negotiated transactions to one or more purchasers, which could include SL. Pending a determination of the course of action that UM desires to pursue, UM may purchase additional shares of SL from time to time in open market purchases or privately negotiated transactions, provided that in UM's judgment such shares present an attractive investment opportunity. Because of the very tentative nature of its conclusions, at this time UM has no plans or proposals of the type required by law to be included in the Schedule 13-D. 4 After reasonable enquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. July 18, 1997 Date /s/ Arthur W. Hicks, Jr. - ------------------------ Signature Arthur W. Hicks, Jr. Vice President and Chief Financial Officer UM Holdings, Ltd. and UM Investment Corporation - ------------------------- Name/Title 5 -----END PRIVACY-ENHANCED MESSAGE-----