-----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, AAvYfcYGeNqRiNqRWG1TUVp4Bi0NDEYvC8I4cad+1fB57hgAFIdPMKQDf4Rne1Os Vz1OufYoEG5Y+W1gSFsQOg== 0000950142-01-000018.txt : 20010123 0000950142-01-000018.hdr.sgml : 20010123 ACCESSION NUMBER: 0000950142-01-000018 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20010117 GROUP MEMBERS: J. WILLIAM UHRIG GROUP MEMBERS: TCR ASSOCIATES, L.P. GROUP MEMBERS: THREE CITIES ASSOCIATES, N.V. GROUP MEMBERS: THREE CITIES FUND II LP GROUP MEMBERS: THREE CITIES FUND II, L.P. GROUP MEMBERS: THREE CITIES OFFSHORE II C.V. GROUP MEMBERS: THREE CITIES RESEARCH, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FAY LESLIE CO INC CENTRAL INDEX KEY: 0000796226 STANDARD INDUSTRIAL CLASSIFICATION: WOMEN'S, MISSES', AND JUNIORS OUTERWEAR [2330] IRS NUMBER: 133197085 STATE OF INCORPORATION: DE FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-38063 FILM NUMBER: 1510362 BUSINESS ADDRESS: STREET 1: 1412 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 2122214000 MAIL ADDRESS: STREET 1: 1412 BROADWAY STREET 2: 1 PASSAN DRIVE CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: FAY LESLIE COMPANIES INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: THREE CITIES FUND II LP CENTRAL INDEX KEY: 0000949290 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 135 E 57TH ST STREET 2: THREE CITIES RESEARCH INC CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128389660 MAIL ADDRESS: STREET 1: C/O THREE CITIES RESEARCH INC STREET 2: 135 EAST 57TH ST CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 0001.txt AMENDMENT NO. 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3)* THE LESLIE FAY COMPANY, INC. (Name of Issuer) COMMON STOCK, PAR VALUE $.01 (Title of Class of Securities) 527016109 (CUSIP Number) ----------------------- RICHARD S. BORISOFF, ESQ. PAUL, WEISS, RIFKIND, WHARTON & GARRISON 1285 AVENUE OF THE AMERICAS NEW YORK, NY 10019-6064 TEL. NO.: (212) 373-3000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------- JANUARY 12, 2001 (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 statement because of Rule 13d-1(b)(3) or (4), check the following box o. 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). ================================================================================ Page 1 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Three Cities Fund II, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - Partner Contributions - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 1,457,679 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,215,081 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- Page 2 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON TCR Associates, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 1,457,679 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,215,081 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- Page 3 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Three Cities Research, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 3,512,564 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,269,966 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 4 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Three Cities Offshore II C.V. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - Partner Contributions - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Netherlands Antilles - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 2,297,483 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,054,885 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- Page 5 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Three Cities Associates, N.V. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Netherlands Antilles - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 2,297,483 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,054,885 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 6 of 14 Pages SCHEDULE 13D CUSIP NO. 527016109 ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON J. William Uhrig - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING 2,297,483 PERSON -------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,054,885 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,512,564 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 66.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- Page 7 of 14 Pages AMENDMENT NO. 3 TO SCHEDULE 13D This Amendment No. 3 ("Amendment") supplements the Schedule 13D, filed on May 24, 1999, as amended by Amendment No. 1, filed on August 5, 1999, and Amendment No. 2, filed on August 30, 1999 (as so amended, the "Schedule 13D"), in the following respects only (capitalized terms used herein shall have the meanings ascribed to such terms in the Schedule 13D): ITEM 2. IDENTITY AND BACKGROUND. Item 2 is amended and restated in its entirety as follows: (a) - (c) The persons (the "Reporting Persons") filing this statement are Three Cities Fund II, L.P., a Delaware limited partnership ("Fund II"), TCR Associates, L.P., a Delaware limited partnership ("TCR Associates"), Three Cities Research, Inc., a Delaware corporation ("Research"), Three Cities Offshore II C.V., a Netherlands Antilles limited partnership ("Offshore II"), Three Cities Associates, N.V., a Netherlands Antilles corporation ("TCA, N.V."), and J. William Uhrig ("Uhrig"). Fund II and Offshore II are collectively referred to herein as the "Three Cities Funds." FUND II Fund II is a Delaware limited partnership, formed to invest in securities to be selected by its investment committee. The principal business address of Fund II, which also serves as its principal office, is c/o Three Cities Research, Inc., 650 Madison Avenue, New York, New York 10022. The information about TCR Associates, the sole general partner of Fund II, required by Instruction C to Schedule 13D is set forth below. TCR ASSOCIATES TCR Associates is a Delaware limited partnership, the principal business of which is serving as the sole general partner of Fund II. The principal business address of TCR Associates, which also serves as its principal office, is c/o Three Cities Research, Inc., 650 Madison Avenue, New York, New York 10022. The information about Research, the sole general partner of TCR Associates, required by Instruction C to Schedule 13D is set forth below. RESEARCH Research is a Delaware corporation which serves as the sole general partner of TCR Associates. Research is also the advisor to the Three Cities Funds and, pursuant to a management agreement with the general partner of each of the Three Cities Funds, Research has voting and dispositive power over the shares of Common Stock reported as beneficially owned by the Three Cities Funds on this Page 8 of 14 Pages Schedule 13D. The principal business address of Research is 650 Madison Avenue, New York, NY 10022. The name, residence or business address, and present principal occupation or employment of each executive officer and director of Research is as follows:
RESIDENCE OR PRINCIPAL OCCUPATION NAME BUSINESS ADDRESS OR EMPLOYMENT ---- ---------------- ------------- Willem F. P. de Vogel c/o Three Cities Research, Inc. President and a Managing Director of 650 Madison Avenue Three Cities Research, Inc. New York, NY 10022 Thomas G. Weld c/o Three Cities Research, Inc. Treasurer and a Managing Director of 650 Madison Avenue Three Cities Research, Inc. New York, NY 10022
OFFSHORE II Offshore II is a Netherlands Antilles partnership, formed to invest in securities to be selected by its investment committee. The principal business address of Offshore II, which also serves as its principal office, is Caracasbaaiweg 201, P.O. Box 6085, Curacao, Netherlands Antilles. The information about TCA, N.V., the sole general partner of Offshore II, required by Instruction C to Schedule 13D is set forth below. TCA, N.V. TCA, N.V. is a Netherlands Antilles corporation, the principal business of which is serving as the general partner of Offshore II. The principal business address of TCA, N.V., which also serves as its principal office, is Caracasbaaiweg 201, P.O. Box 6085, Caracas, Netherlands Antilles. The name, residence or business address, and present principal occupation or employment of each executive officer and director of TCA, N.V. is as follows:
RESIDENCE OR PRINCIPAL OCCUPATION NAME BUSINESS ADDRESS OR EMPLOYMENT ---- ---------------- ------------- J. William Uhrig c/o Three Cities Research, Inc. a Managing Director of Three Cities 650 Madison Avenue Research, Inc. New York, NY 10022
The information about J. William Uhrig, the sole stockholder, President and director of TCA, N.V., required by Instruction C to Schedule 13D is set forth below. Page 9 of 14 Pages UHRIG J. William Uhrig is an individual who is the sole stockholder, President and the sole director of TCA, N.V. The name, residence or business address, and present principal occupation or employment of Mr. Uhrig is as follows:
RESIDENCE OR PRINCIPAL OCCUPATION NAME BUSINESS ADDRESS OR EMPLOYMENT ---- ---------------- ------------- J. William Uhrig c/o Three Cities Research, Inc. a Managing Director of Three Cities 650 Madison Avenue Research, Inc. New York, NY 10022
(d) None of the entities or persons identified in this Item 2 has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None of the entities or persons identified in this Item 2 has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Each individual named in this Item 2 is a citizen of the United States of America, except that Willem F. P. de Vogel is a citizen of the Kingdom of the Netherlands. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. By letter dated January 12, 2000 (the "Offer Letter," attached hereto as Exhibit 1), Research, Fund II and TCR Offshore (collectively, the "Buyers") submitted a proposal to the Board of Directors of the Company concerning the acquisition by the Buyers of all of the outstanding shares of Common Stock of the Company not currently owned by the Buyers (the "Proposed Acquisition") for a cash purchase price of $3.50 per share (the "Consideration"). The Buyers have calculated that, assuming that there are no dissenting shares, approximately $6,339,102 will be required to pay the aggregate Consideration payable to holders of Common Stock of the Company (other than shares held by the Buyers) at the closing of the Proposed Acquisition (based upon the number of outstanding shares of Common Stock set forth in the Form 10-Q of the Company, filed on November 14, 2000). Buyers expect that the funds to be used to pay the aggregate Consideration will come from available cash reserves. Page 10 of 14 Pages The transaction contemplated by the Offer Letter is subject to a number of terms and conditions set forth therein. The information set forth in response to this Item 3 is qualified in its entirety by reference to the Offer Letter, which is expressly incorporated herein by reference. ITEM 4. PURPOSE OF TRANSACTION. Pursuant to the Offer Letter, Buyers have proposed the Proposed Acquisition. The Proposed Acquisition is subject to a number of terms and conditions set forth in the Offer Letter. The information set forth in response to this Item 4 is qualified in its entirety by reference to the Offer Letter, which is expressly incorporated herein by reference. It is anticipated that upon the completion of the Proposed Acquisition the Common Stock of the Company will cease to be quoted on the Nasdaq National Market System and that the Common Stock of the Company will be de-registered under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons expect to evaluate on an ongoing basis the Company's financial condition, business, operations and prospects, market price of the Common Stock, conditions in securities markets generally, general economic and industry conditions and other factors. Accordingly, the Reporting Persons reserve the right to change their plans and intentions at any time and from time to time acquire additional shares of Common Stock or securities convertible or exchangeable for Common Stock or dispose of shares of Common Stock. Any such transactions may be effected at any time and from time to time, subject to any applicable limitations of the Securities Act of 1933, as amended, and the Exchange Act. Except as disclosed in Item 3, Item 6 and this Item 4, none of the Reporting Persons has any current plans or proposals which would relate to or would result in: (a) The acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) Any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; Page 11 of 14 Pages (e) Any material change in the present capitalization or dividend policy of the Company; (f) Any other material change in the Company's business or corporate structure; (g) Changes in the Company's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) Causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or (j) Any action similar to any of those enumerated above. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit 1. Letter from Three Cities Research, Inc., Three Cities Fund II, L.P. and Three Cities Offshore II, C.V. to John J. Pomerantz, Chairman of the Board of Directors of the Company, dated as of January 12, 2001. Page 12 of 14 Pages SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 17, 2001 THREE CITIES FUND II, L.P. By: TCR Associates, L.P., its General Partner By: Three Cities Research, Inc., its General Partner By: /s/ Willem F. P. de Vogel ---------------------------------- Willem F. P. de Vogel President TCR ASSOCIATES, L.P. By: Three Cities Research, Inc., its General Partner By: /s/ Willem F. P. de Vogel --------------------------------------- Willem F. P. de Vogel President THREE CITIES RESEARCH, INC. By: /s/ Willem F. P. de Vogel -------------------------------------------- Willem F. P. de Vogel President Page 13 of 14 Pages THREE CITIES OFFSHORE II C.V. By: Three Cities Associates, N.V., its General Partner By: /s/ J. William Uhrig --------------------------------------- J. William Uhrig President THREE CITIES ASSOCIATES, N.V. By: /s/ J. William Uhrig -------------------------------------------- J. William Uhrig President /s/ J. William Uhrig ------------------------------------------------- J. William Uhrig Page 14 of 14 Pages EX-99 2 0002.txt EXHIBIT 1 EXHIBIT 1 [LETTERHEAD OF THREE CITIES RESEARCH, INC.] January 12, 2001 Mr. John J. Pomerantz Chairman of the Board Leslie Fay Company, Inc. 1412 Broadway 2nd Floor New York, New York 10018 Dear John: Three Cities Research, Inc., Three Cities Fund II, L.P. and Three Cities Offshore II, C.V. (collectively, "THREE CITIES FUNDS") is pleased to make a proposal to acquire all of the outstanding shares of common stock, par value $.01 per share ("COMMON STOCK") of The Leslie Fay Company, Inc. ("LESLIE FAY") not currently owned by Three Cities Funds for a cash price per share of $3.50. Three Cities Funds believes that this proposal is a fair one that will benefit the public stockholders of Leslie Fay. The price represents a 24% premium over the closing market price on January 11, 2001 of $2.81 per share and enables the public stockholders to receive cash for their shares. We expect that all Funds necessary to consummate the transaction would be provided by the Three Cities Funds from available cash reserves. Consummation of the transaction would be subject to approval by the Board of Directors and stockholders of Leslie Fay in accordance with Leslie Fay's Amended and Restated Certificate of Incorporation, as well as to other conditions customary in a transaction of this type. It is possible that other stockholder of Leslie Fay (including members of management) may be invited to invest in the acquisition vehicle to be organized by Three Cities Funds. Three Cities Funds anticipates that upon the completion of the acquisition, the shares of Leslie Fay will cease to be quoted on the Nasdaq National Market System and that the Common Stock will be de-registered under the Securities Exchange of 1934, as amended. Three Cities Funds expects that the Board of Directors of Leslie Fay will form a special committee of directors who are not affiliated with Three Cities Funds, and that the special committee will engage legal and financial advisors to represent both them and the public shareholders and to provide a fairness opinion with respect to the proposed transaction. When the special committee is selected, Three Cities Funds is prepared to Mr. John Pomerantz January 12, 2001 Page 2 meet with the special committee and its advisors to provide them with any information they may require. We wish to make it clear that Three Cities Funds is not interested in selling its interest in Leslie Fay. Three Cities Funds is prepared to proceed expeditiously to complete this proposal. We anticipate performing only a limited due diligence investigation of the Company, which will consist primarily of updating our understanding of the operations of the Company, its business and financial condition. We are also prepared to instruct our attorneys to prepare a draft of a proposed merger agreement promptly. Nothing in this letter shall be binding upon Three Cities, and we reserve the right to withdraw or modify this proposal at any time. Thank you for your consideration of this proposal. We look forward to your prompt response. Sincerely, /s/ W. Robert Wright -------------------- W. Robert Wright cc: Board of Directors The Leslie Fay Company, Inc. -----END PRIVACY-ENHANCED MESSAGE-----