-----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, UYg9QAORdknzovQ15T0xAljvL4zXsRVNAIU9C7IrESC2ZNpCCJgPRJGs7Rg4sv5J AnIH5hgvdXWgLuY+7sGj+g== 0000950144-97-012972.txt : 19971203 0000950144-97-012972.hdr.sgml : 19971203 ACCESSION NUMBER: 0000950144-97-012972 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971126 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971202 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BROOKE GROUP LTD CENTRAL INDEX KEY: 0000059440 STANDARD INDUSTRIAL CLASSIFICATION: CIGARETTES [2111] IRS NUMBER: 510255124 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05759 FILM NUMBER: 97731318 BUSINESS ADDRESS: STREET 1: 100 S E SECOND ST CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 3055798000 FORMER COMPANY: FORMER CONFORMED NAME: LIGGETT GROUP INC DATE OF NAME CHANGE: 19900815 FORMER COMPANY: FORMER CONFORMED NAME: LIGGETT & MYERS INC DATE OF NAME CHANGE: 19760602 FORMER COMPANY: FORMER CONFORMED NAME: LIGGETT & MYERS TOBACCO CO DATE OF NAME CHANGE: 19690528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BGLS INC CENTRAL INDEX KEY: 0000927388 STANDARD INDUSTRIAL CLASSIFICATION: CIGARETTES [2111] IRS NUMBER: 133593483 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-93576 FILM NUMBER: 97731319 BUSINESS ADDRESS: STREET 1: 100 SE SECOND ST STREET 2: 32ND FLOOR CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 3055798000 MAIL ADDRESS: STREET 1: 100 SE SECOND ST STREET 2: 32ND FLOOR CITY: MIAMI STATE: FL ZIP: 33131 8-K 1 BROOKE GROUP/ BGLS INC. FORM 8-K 11/26/97 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K JOINT CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): NOVEMBER 26, 1997
BROOKE GROUP LTD. BGLS INC. (Exact name of registrant as specified in its (Exact name of registrant as specified in its charter) charter) 1-5759 33-93576 (Commission File Number) (Commission File Number) 51-0255124 13-3593483 (I.R.S. Employer Identification No.) (I.R.S. Employer Identification No.) DELAWARE DELAWARE (State or other jurisdiction of incorporation (State or other jurisdiction of incorporation or organization) or organization) 100 S.E. SECOND STREET 100 S.E. SECOND STREET MIAMI, FLORIDA 33131 MIAMI, FLORIDA 33131 (Address of principal executive offices including (Address of principal executive offices including Zip Code) Zip Code) 305/579-8000 305/579-8000 (Registrant's telephone number, including area (Registrant's telephone number, including area code) code) (NOT APPLICABLE) (NOT APPLICABLE) (Former name or former address, (Former name or former address, if changed since last report) if changed since last report)
Page 1 of 7 2 ITEM 5. OTHER EVENTS. On November 26, 1997, BGLS Inc. entered into a second amendment to the Standstill Agreement and Consent, a copy of which amendment is attached hereto as Exhibit 99.1 and incorporated herein by reference, with the principal holders of BGLS Inc.'s 15.75% Senior Secured Notes due 2001. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. The following Exhibits are provided in accordance with the provisions of Item 601 of Regulation S-K and are filed herewith unless otherwise noted. EXHIBIT INDEX 99.1 Amendment to Standstill Agreement and Consent, dated as of November 26, 1997, among BGLS Inc., AIF II, L.P., Artemis America Partnership, and Tortoise Corp. Page 2 of 7 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BROOKE GROUP LTD. By: /s/ JOSELYNN D. VAN SICLEN ------------------------------------------ Joselynn D. Van Siclen Vice President and Chief Financial Officer BGLS INC. By: /s/ JOSELYNN D. VAN SICLEN ------------------------------------------ Joselynn D. Van Siclen Vice President and Chief Financial Officer Date: December 2, 1997 Page 3 of 7 EX-99.1 2 AMENDMENT TO STANDSTILL AGREEMENT & CONSENT 1 Exhibit 99.1 AMENDMENT TO STANDSTILL AGREEMENT AND CONSENT This Amendment to Standstill Agreement and Consent, dated as of November 26, 1997 ("Amendment"), among BGLS INC., a Delaware corporation (the "Company"), AIF II, L.P., a Delaware limited partnership ("AIF II"), ARTEMIS AMERICA PARTNERSHIP, a Delaware partnership (as successor to Artemis America LLC, a Delaware limited liability company) ("Artemis") and TORTOISE CORP., a New York corporation ("Tortoise"; together with AIF II and Artemis, the "Participating Holders") amends the Standstill Agreement and Consent among the Company and the Participating Holders dated as of August 28, 1997 as previously amended on November 13, 1997 (the "Standstill Agreement"). Capitalized terms not otherwise defined herein shall have the meanings specified in the Standstill Agreement. WHEREAS, the Company has requested that the Participating Holders extend the termination date of the Standstill Agreement; and WHEREAS, the Participating Holders have agreed to such an extension on the terms and conditions contained in this Agreement; NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreement of the parties contained in this Amendment, the parties hereto agree as follows: 1. AMENDMENTS TO STANDSTILL AGREEMENT. (a) Section 6 of the Standstill Agreement is hereby amended by deleting the amount "$1,500,000" contained in such section and replacing it with the amount "$3,000,000". (b) Section 7 of the Standstill Agreement is hereby amended by deleting the date "December 10, 1997" contained in clause (iv) of such section and replacing it with the date "December 22, 1997". 2. CONDITIONS PRECEDENT TO EFFECTIVENESS OF THIS AMENDMENT. This Amendment shall become effective upon the execution and delivery of this Amendment by the Company and each of the Participating Holders. 3. ABSENCE OF WAIVER. The parties hereto agree that, except to the extent expressly set forth herein, nothing contained herein shall be deemed to: (a) be a consent to, or waiver of, any Default or Event of Default; (b) prejudice any right or remedy which any of the Participating Holders may now have or may in the future have under the Indenture, the Series B Securities or otherwise, including, without limitation, any right or remedy resulting from any Default or Event of Default; or (c) constitute a waiver of the rights of any of the Participating Holders under Section 2.12 of the Indenture. Page 4 of 7 2 4. REPRESENTATIONS. Each party hereto hereby represents and warrants to the other parties that: (a) such party is a corporation or partnership, as applicable, duly organized, validly existing, and in good standing under the laws of the state of its incorporation or formation, as applicable; (b) the execution, delivery and performance of this Amendment by such party is within its corporate or partnership powers, as applicable, has been duly authorized by all necessary corporate or partnership action, as applicable, has received all necessary consents and approvals (if any shall be required), and does not and will not contravene or conflict with any provisions of law or of the charter or by-laws, or partnership agreement, as applicable, of such party or of any material agreement binding upon such party or its property; and (c) upon its effectiveness under Section 2, this Amendment constitutes the legal, valid and binding obligation of such party, enforceable against it in accordance with its terms. In addition, the Company represents and warrants that to the best of its knowledge, except as set forth in the Standstill Agreement no Default or Event of Default under the Indenture has occurred and is continuing. 5. CONTINUING EFFECT, ETC. Except as expressly provided herein, the Company hereby agrees that the Standstill Agreement, the Indenture and the Series B Securities shall continue unchanged and in full force and effect, and all rights, powers and remedies of the Participating Holders thereunder and under applicable law are hereby expressly reserved. 6. EXPENSES. (a) The Company hereby agrees to reimburse each of the Participating Holders for their reasonable attorneys fees and expenses incurred in connection with this Amendment. (b) The Company agrees that an actual or threatened or potential claim, action or proceeding against or affecting an Indemnitee (as defined in the Exchange Agreement dated as of November 21, 1995 among INTER ALIA the Company and the Participating Holders) that at any time results from, relates to or arises out of the execution, delivery or performance by the Participating Holders of this Amendment is deemed to be an Indemnification Event (as defined in the Exchange Agreement). 7. MISCELLANEOUS. (a) This Amendment may be executed in any number of counterparts and by the different parties on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same agreement. (b) This Amendment shall be a contract made under and governed by the laws of the State of New York. Page 5 of 7 3 (c) This Amendment shall be binding upon the Company, the Participating Holders and their respective successors and assigns, and shall inure to the benefit of the Company, the Participating Holders and their respective successors and assigns. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives as of the date first above written. BGLS INC. By: /s/ RICHARD J. LAMPEN ------------------------------- Name: Richard J. Lampen Title: Executive Vice President AIF II, L.P. By: APOLLO ADVISORS, L.P. Managing General Partner By: APOLLO CAPITAL MANAGEMENT, INC. General Partner By: /s/ JOHN J. HANNAN -------------------------- Name: John J. Hannan Title: ARTEMIS AMERICA PARTNERSHIP By: LION ADVISORS, L.P. Attorney-in-Fact By: LION CAPITAL MANAGEMENT, INC. General Partner By: /s/ JOHN J. HANNAN -------------------------- Name: John J. Hannan Title: TORTOISE CORP. By: /s/ EDWARD E. MATTNER -------------------------------- Name: Edward E. Mattner Title: President Page 6 of 7 4 ACKNOWLEDGED, AGREED & CONSENTED TO WITH RESPECT TO SECTION 6(b): BROOKE GROUP LTD. By: /s/ RICHARD J. LAMPEN ---------------------------- Name: Richard J. Lampen Title: Executive Vice President Page 7 of 7 -----END PRIVACY-ENHANCED MESSAGE-----