-----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, ApX4rvrE5Ud84LsF++5wuYUILRXPUQQ/AUK9wt+PBl68+4d5PFEecz9Aq0nzIvRB p/lqQPtYthUA7zFvZGeyFQ== 0001047469-99-003128.txt : 19990204 0001047469-99-003128.hdr.sgml : 19990204 ACCESSION NUMBER: 0001047469-99-003128 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990203 GROUP MEMBERS: AMSTER HOWARD GROUP MEMBERS: AMSTER TRADING COMPANY GROUP MEMBERS: AMSTER TRADING COMPANY CHARITABLE REMAINDER UNITRUSTS GROUP MEMBERS: HOWARD AMSTER & TAMRA F GOULD CHARITABLE REMAINDER UNITRUST GROUP MEMBERS: RAMAT SECURITIES LTD GROUP MEMBERS: TAMRA F GOULD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WILSHIRE REAL ESTATE INVESTMENT TRUST INC CENTRAL INDEX KEY: 0001048566 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 911851535 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-54067 FILM NUMBER: 99520033 BUSINESS ADDRESS: STREET 1: C/O WILSHIRE FINANCIAL SERVICES GROUP IN STREET 2: 1776 SW MADISON STREET CITY: PORTLAND STATE: OR ZIP: 97205 BUSINESS PHONE: 5032235600 MAIL ADDRESS: STREET 1: C/O WILSHIRE FINANCIAL SERVICES GROUP IN STREET 2: 1776 SW MADISON STREET CITY: PORTLAND STATE: OR ZIP: 97205 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AMSTER HOWARD CENTRAL INDEX KEY: 0000904853 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 25812 FAIRMONT BLVD CITY: BEACHWOOD STATE: OH ZIP: 44122 BUSINESS PHONE: 2165951047 SC 13D/A 1 SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* WILSHIRE REAL ESTATE INVESTMENT TRUST INC. -------------------------------------------------------- (Name of Issuer) COMMON ($.0001 PAR VALUE) -------------------------------------------------------- (Title of Class of Securities) 971892104 -------------------------------------------------------- (CUSIP Number) HOWARD AMSTER, 23811 CHAGRIN BLVD #200, BEACHWOOD, OH 44122-5525 (216) 595-1047 -------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) 1/26/99 -------------------------------------------------------- (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. *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). (Continued on following page(s)) CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons HOWARD AMSTER - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* PF - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 333700 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 298500 -------------------------------------------------- (9) Sole Dispositive Power 333,700 -------------------------------------------------- (10) Shared Dispositive Power 298500 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 333700 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 2.902 - ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons TAMRA F. GOULD - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* PF - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 242000 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 242000 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0 - ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons AMSTER TRADING COMPANY - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 56500 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 56500 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0 - ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons AMSTER TRADING COMPANY CHARITABLE REMAINDER UNITRUSTS - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* AF - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 56500 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 56500 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 56500 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) .491% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* OO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons HOWARD AMSTER & TAMRA F. GOULD CHARITABLE REMAINDER UNITRUST - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* AF - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 242000 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 242000 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 242000 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 2.104% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* OO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971892104 13D Page of Pages --------- --- --- AMENDMENT #1 - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons RAMAT SECURITIES LTD - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /x/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 0 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0 - ------------------------------------------------------------------------------- (14) Type of Reporting Person* BD - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! SCHEDULE 13D AMENDMENT #1 CUSIP No. 971892104 THERE ARE NO CHANGES TO SCHEDULE 13D AS PREVIOUSLY FILED EXCEPT AS SET FORTH BELOW. Item 2. Identity & Background Ramat Securities Ltd 23811 Chagrin Blvd, Suite 200, Beachwood, Ohio 44122 Broker Dealer Ramat Securities Ltd. was previously part of the group, sold its entire position in the issuer. Section 2, therefore, is amended to reflect that Ramat Securities Ltd. is no longer part of the group. Item 4. Purposes of Transaction Howard Amster's Individual Retirement Account and Amster Trading Company Charitable Remainder Unitrusts sold some of their stock in the issuer to reduce their securities position. Ramat Securities Ltd sold all their stock in the Registrant. Each remaining members of the Group reserve the right to further reduce or eliminate their position. Item 5. Interest in securities of the Issuer b) The aggregate amount owned by the Group of Reporting Persons is 632,200 shares or 5.497% of the outstanding shares. Howard Amster in his individual retirement accounts owns 333,700 shares or 2.902% of the outstanding shares. Amster Trading Company Charitable Remainder Unitrusts owns 56,500 shares or .491% of the outstanding shares. Howard Amster and Tamra F. Gould Charitable Remainder Unitrust owns 242,000 shares or 2.104% of the outstanding shares. Ramat Securities Ltd owns 0 shares or 0% of the outstanding shares. c) The following table reflects shares sold on NASDAQ as open market transactions:
Name Date Shares Price Executed by Howard Amster IRA 1/26/99 3,300 3.1117 Everen Securities 1/27/99 11,000 3.142 Everen Securities Amster Trading Co 1/19/99 37,500 3.00 Friedman, Billings, Ramsey Charitable Remainder 1/26/99 125,000 2.9375 Friedman, Billings, Ramsey Unitrusts 1/27/99 125,000 3.00 Friedman, Billings, Ramsey Ramat Securities Ltd 12/22/98 7,000 3.0625 Bear Stearns 12/31/98 8,500 3.2904 Bear Stearns 12/31/98 24,500 3.4405 Instinet/By Bear Stearns 1/7/99 2,000 3.1875 Bear Stearns 1/12/99 32,000 3.09375 Instinet/By Bear Stearns 1/12/99 3,000 3.0625 Bear Stearns
Signature After reasonable inquiry and to the best of my knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Date: 2/2/99 /s/ /s/ /s/ Howard Amster Amster Trading Howard Amster & Company Tamra F. Gould Charitable Remainder Unitrust /s/ /s/ /s/ Tamra F. Gould Amster Trading Co Ramat Securities Ltd Charitable Remainder Unitrusts -----END PRIVACY-ENHANCED MESSAGE-----