-----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, DBXZ+tJFnOq4OAoZMsVJTfqhp+loHpIv3NUG9LSDzOUzvIEPN72vH0RPbVeyJRyg swBry4o9KMp4+ya+MWDd5Q== 0001005477-99-002585.txt : 19990521 0001005477-99-002585.hdr.sgml : 19990521 ACCESSION NUMBER: 0001005477-99-002585 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990520 GROUP MEMBERS: JEFFREY PARKET GROUP MEMBERS: KENNILWORTH PARTNERS II LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: APPLIED MAGNETICS CORP CENTRAL INDEX KEY: 0000006948 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 951950506 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-00002-70 FILM NUMBER: 99631324 BUSINESS ADDRESS: STREET 1: 75 ROBIN HILL RD CITY: GOLETA STATE: CA ZIP: 93117 BUSINESS PHONE: 8056835353 MAIL ADDRESS: STREET 1: 75 ROBIN HILL ROAD CITY: GOLETA STATE: CA ZIP: 93117 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KENNILWORTH PARTNERS II LP CENTRAL INDEX KEY: 0001086848 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 40 OTTERMILL RD STREET 2: SUITE 308 CITY: GREAT NECK STATE: NY ZIP: 11021 MAIL ADDRESS: STREET 1: 40 OTTERMILL RD STREET 2: SUITE 308 CITY: GREAT NECK STATE: NY ZIP: 11021 SC 13G 1 SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b) (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2 (b) (Amendment No. )* Applied Magnetics Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.10 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 038213104 ------------------------------------------------------- (CUSIP Number) May 10, 1999 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |x| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) *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). - -------------------------------------------------------------------------------- CUSIP No. 038213104 13G Page 2 of 6 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Kennilworth Partners II LP - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_ (b)|_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER 11,323,663 OF SHARES -------------------------------------------------------------- 6 SHARED VOTING POWER BENEFICIALLY -------------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 11,323,663 -------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,323,663 - -------------------------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 21.56% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN; BD - -------------------------------------------------------------------------------- Page 2 of 6 Pages - -------------------------------------------------------------------------------- CUSIP No. 038213104 13G Page 3 of 6 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Jeffrey Parket - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_ (b)|_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER 11,323,663* OF SHARES -------------------------------------------------------------- 6 SHARED VOTING POWER BENEFICIALLY -------------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 11,323,663* -------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,323,663* - -------------------------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 21.56% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- - ---------- * By virtue of his position as managing member of the general partner of Kennilworth Partners II LP ("Kennilworth"), Jeffrey Parket may be deemed to beneficially own the shares held by Kennilworth. Page 3 of 6 Pages Item 1. (a) Name of Issuer. Applied Magnetics Corporation (b) Address of Issuer's Principal Executive Offices. 75 Robin Hill Road Goleta, California 93117 Item 2. (a) Name of Person Filing. This Schedule 13G is being filed with respect to shares of Common Stock of the Issuer which are beneficially owned by Kennilworth Partners II LP ("Kennilworth") and Jeffrey Parket. See Item 4 below. (b) Address of Principal Business Office or, if none, Residence. The principal business address of the reporting persons is: 40 Cuttermill Road Suite 308 Great Neck, New York 11021 (c) Citizenship. Kennilworth is a Delaware limited partnership. Mr. Parket is a United States citizen. (d) Title of Class of Securities. Common Stock, $0.10 par value per share (e) CUSIP Number. 03821304 Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a: (a) |x| Broker or dealer registered under Section 15 of the Act. (b) |_| Bank as defined in Section 3(a)(6) of the Act. (c) |_| Insurance Company as defined in Section 3(a)(19) of the Act. (d) |_| Investment Company registered under Section 8 of the Investment Company Act. (e) |_| Investment Adviser in accordance with Sec. 240.13d-1(b)(1)(ii)(E). (f) |_| Employee Benefit Plan or Endowment Fund in accordance with Sec. 240.13d?1(b)(1)(ii)(F). (g) |_| Parent holding company, in accordance with Sec. 240.13d-1(b)(ii)(G). Page 4 of 6 Pages (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940. (j) |_| Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Sec. 240.13d-1(c), check this box |_|. Item 4. Ownership (a) Amount Beneficially Owned. 11,323,663 (1) shares (by each of Kennilworth and Mr. Parket(2)) (b) Percent of Class. 21.56% (c) Number of shares as to which each such person has (i) sole power to vote or to direct the vote: 11,323,663 (by each of Kennilworth and Mr. Parket(2)) (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 11,323,663 (by each of Kennilworth and Mr. Parket(2)) (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following |_| Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable. - ---------- (1) Excluding any shares of Common Stock underlying certain 7% Convertible Debentures, which Debentures Kennilworth has agreed to deliver to the Issuer in exchange for certain shares of Common Stock which are reported herein as being beneficially owned by the Reporting Persons. (2) By virtue of his position as managing member of the general partner of Kennilworth, Jeffrey Parket may be deemed to beneficially own the shares held by Kennilworth. Page 5 of 6 Pages Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and were not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and were not held in connection with or as a participant in any transaction having that purpose or effect. 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. Kennilworth Partners II LP By: Kennilworth Advisors LLC, general partner Date: May 20, 1999 By: /s/ Jeffrey Parket ---------------------------------- Name: Jeffrey Parket Title: Managing Member /s/ Jeffrey Parket ---------------------------------- Jeffrey Parket Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001). Page 6 of 6 Pages -----END PRIVACY-ENHANCED MESSAGE-----