SC 13G 1 vgin13g2.txt VISIBLE GENETICS INC. - 13G SECURITIES & 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 13d-2(b) Visible Genetics Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 92829S104 (CUSIP Number) April 4, 2001 (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) (Page 1 of 11 Pages) ________________ *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 the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for purposes 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. 92829S104 13G Page 2 of 11 Pages _________________________________________________________________ ___________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Gotham Partners, L.P. _________________________________________________________________ ____________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [X] (b) [ ] _________________________________________________________________ ____________ (3) SEC USE ONLY _________________________________________________________________ ____________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION New York _________________________________________________________________ ____________ NUMBER OF (5) SOLE VOTING POWER 524,550 SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 524,550 REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER -0- _________________________________________________________________ ____________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 524,550 _________________________________________________________________ ____________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] _________________________________________________________________ ____________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.23% _________________________________________________________________ ____________ (12) TYPE OF REPORTING PERSON ** PN _________________________________________________________________ ____________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 92829S104 13G Page 3 of 11 Pages _________________________________________________________________ ___________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Gotham Partners III, L.P. _________________________________________________________________ ____________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [X] (b) [ ] _________________________________________________________________ ____________ (3) SEC USE ONLY _________________________________________________________________ ____________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION New York _________________________________________________________________ ____________ NUMBER OF (5) SOLE VOTING POWER 22,060 SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 22,060 REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER -0- _________________________________________________________________ ____________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,060 _________________________________________________________________ ____________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] _________________________________________________________________ ____________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.14% _________________________________________________________________ ____________ (12) TYPE OF REPORTING PERSON ** PN _________________________________________________________________ ____________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 92829S104 13G Page 4 of 11 Pages _________________________________________________________________ ___________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Gotham International Advisors, L.L.C. _________________________________________________________________ ____________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [X] (b) [ ] _________________________________________________________________ ____________ (3) SEC USE ONLY _________________________________________________________________ ____________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ ____________ NUMBER OF (5) SOLE VOTING POWER 132,490 SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 132,490 REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER -0- _________________________________________________________________ ____________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 132,490 _________________________________________________________________ ____________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] _________________________________________________________________ ____________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.82% _________________________________________________________________ ____________ (12) TYPE OF REPORTING PERSON ** IA _________________________________________________________________ ____________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 92829S104 13G Page 5 of 11 Pages _________________________________________________________________ ___________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Gotham Holdings I, L.L.C. _________________________________________________________________ ____________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [X] (b) [ ] _________________________________________________________________ ____________ (3) SEC USE ONLY _________________________________________________________________ ____________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ ____________ NUMBER OF (5) SOLE VOTING POWER 274,890 SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 274,890 REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER -0- _________________________________________________________________ ____________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 274,890 _________________________________________________________________ ____________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] _________________________________________________________________ ____________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.69% _________________________________________________________________ ____________ (12) TYPE OF REPORTING PERSON ** IA _________________________________________________________________ ____________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 92829S104 13G Page 6 of 11 Pages Item 1(a). Name of Issuer: The name of the issuer is Visible Genetics Inc. (the "Company"). Item 1(b). Address of Issuer's Principal Executive Offices: The Company's principal executive offices are located at 700 Bay Street, Suite 1000, Toronto Ontario Canada, M5G 1Z6. Item 2(a). Name of Person Filing: This statement is filed by: (i) Gotham Partners, L.P., a New York limited partnership ("Gotham") with respect to the shares of Common Stock directly owned by it; (ii) Gotham Partners III, L.P., a New York limited partnership ("Gotham II") with respect to the shares of Common Stock directly owned by it; and (iii) Gotham International Advisors, L.L.C., a limited liability company organized under the laws of the State of Delaware ("Gotham Advisors"), which serves as investment manager to Gotham Partners International, Ltd.("Gotham International"), a company organized under the laws of the Cayman Islands, with respect to the shares of Common Stock directly owned by Gotham International; and (iv) Gotham Holdings I, L.L.C, a limited liability company organized under the laws of the State of Delaware ("Holdings I") with respect to the shares of Common Stock directly owned by it; and The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the business office of Gotham, Gotham Advisors, Gotham III and Holdings I is 110 East 42nd Street, 18th Floor, New York, New York, 10017. The address of the business office of Gotham International is c/o Goldman Sachs (Cayman) Trust, Limited, Harbour Centre, 2nd Floor, P.O. Box 896, George Town, Grand Cayman, Cayman Islands, British West Indies Item 2(c). Citizenship: Gotham and Gotham III are limited partnerships organized under the laws of the State of New York. Gotham Advisors and Holdings I are limited liability companies organized under the laws of the State of Delaware. Item 2(d). Title of Class of Securities: Common Stock, $0.01 par value (the "Common Stock") CUSIP No. 92829S104 13G Page 7 of 11 Pages Item 2(e). CUSIP Number: 92829S104 Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a: (a) [ ] 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 of 1940, (e) [ ] Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E), (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), (g) [ ] Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G), (h) [ ] Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) [ ] 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 Rule 13d- 1(b)(1)(ii)(J). Not applicable. CUSIP No. 92829S104 13G Page 8 of 11 Pages Item 4. Ownership. A. Gotham Partners, L.P. (a) Amount beneficially owned: 524,550 (b) Percent of class: 3.23% The percentages used herein are calculated based upon the 16,244,619 shares of Common Stock issued and outstanding as reflected in the Company's Form 20-F for the year ending December 31, 2000. (c)(i) Sole power to vote or direct the vote: 524,550 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 524,550 (iv) Shared power to dispose or direct the disposition: -0- B. Gotham Partners III, L.P. (a) Amount beneficially owned: 22,060 (b) Percent of class: 0.14% (c)(i) Sole power to vote or direct the vote: 22,060 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 22,060 (iv) Shared power to dispose or direct the disposition: -0- C. Gotham International Advisors, L.L.C. (a) Amount beneficially owned: 132,490 (b) Percent of class: 0.82% (c)(i) Sole power to vote or direct the vote: 132,490 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 132,490 (iv) Shared power to dispose or direct the disposition: -0- D. Gotham Holdings I, L.L.C. (a) Amount beneficially owned: 274,890 (b) Percent of class: 1.69% (c)(i) Sole power to vote or direct the vote: 274,890 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 274,890 (iv) Shared power to dispose or direct the disposition: -0- CUSIP No. 92829S104 13G Page 9 of 11 Pages Item 5. Ownership of Five Percent or Less of a Class. Not applicable. 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. Item 8. Identification and Classification of Members of the Group. See Item 2. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certification. Each of the Reporting Persons hereby makes the following certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are 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 are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 92829S104 13G Page 10 of 11 Pages SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: April 12, 2001 GOTHAM PARTNERS, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman William A. Ackman President GOTHAM INTERNATIONAL ADVISORS, L.L.C. By: /s/ William A. Ackman William A. Ackman Senior Managing Member GOTHAM PARTNERS III, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman William A. Ackman President GOTHAM HOLDINGS I, L.L.C. By: Gotham Holdings Management, L.L.C., The Investment Manager By: /s/ William A. Ackman William A. Ackman Senior Managing Member Page 11 of 11 Pages EXHIBIT 1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(f)1 The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATED: April 12, 2001 GOTHAM PARTNERS, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman William A. Ackman President GOTHAM INTERNATIONAL ADVISORS, L.L.C. By: /s/ William A. Ackman William A. Ackman Senior Managing Member GOTHAM PARTNERS III, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman William A. Ackman President GOTHAM HOLDINGS I, L.L.C. By: Gotham Holdings Management, L.L.C., The Investment Manager By: /s/ William A. Ackman William A. Ackman Senior Managing Member