-----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, Fzm5GYKlklBrRzW0lTthNGrLLsPgUI1WgZgTCOwkN3cfjiPTaXV2ecn3fXf2g13y 0UHJFrIcf/tMXCf2yyVUnQ== 0000932799-00-000001.txt : 20000202 0000932799-00-000001.hdr.sgml : 20000202 ACCESSION NUMBER: 0000932799-00-000001 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000112 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BAYCORP HOLDINGS LTD CENTRAL INDEX KEY: 0001012127 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 020488443 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-50357 FILM NUMBER: 505792 BUSINESS ADDRESS: STREET 1: 20 INTERNATIONAL DR STREET 2: STE 301 CITY: PORTSMOUTH STATE: NH ZIP: 03801-6809 BUSINESS PHONE: 6034316600 MAIL ADDRESS: STREET 1: COCHECO FALLS MILLWORKS STREET 2: 100 MAIN ST STE 201 CITY: DOVER STATE: NH ZIP: 03820 FORMER COMPANY: FORMER CONFORMED NAME: GREAT BAY HOLDINGS CORP DATE OF NAME CHANGE: 19960424 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SC FUNDAMENTAL INC CENTRAL INDEX KEY: 0000919094 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133563937 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 712 5TH AVE 19TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129573500 MAIL ADDRESS: STREET 1: 712 5TH AVENUE 19TH FL STREET 2: 712 5TH AVENUE 19TH FL CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3) BAYCORP HOLDINGS LTD (Name of Issuer) Common Stock, Par Value, $0.01 Per Share (Title of Class of Securities) 072728108 (CUSIP Number) Stephen M. Davis, Esq. Heller Ehrman White & McAuliffe 711 Fifth Avenue, New York, New York 10022, (212) 832-8300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 2, 1999 (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 13-d-1(b)(3) or (4), check the following box [ ]. The information required on the remainder of this cover page shall not be deemed to be "filed" for the 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). Page 1 of 19 Pages SCHEDULE 13D - -------------------------------- ------------------------- CUSIP No. 072728108 Page 2 of 19 Pages - ------------------------------- ------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The SC Fundamental Value Fund, L.P. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY---------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO - ------------------------------------------------------------------------------- 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 - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 207,540 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 207,540 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 207,540 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ----------------------------- -------------------------- CUSIP No. 072728108 Page 3 of 19 Pages - ------------------------------ -------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Inc. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 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 - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 222,313 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 222,313 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 222,313 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.7% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ------------------------------ ---------------------------- CUSIP No. 072728108 Page 4 of 19 Pages - ------------------------------` --------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Inc. - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 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 - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 207,540 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 207,540 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 207,540 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ----------------------------- ------------------------ CUSIP No. 072728108 Page 5 of 19 Pages - ------------------------------ ------------------------ ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Peter M. Collery - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 446,003 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 446,003 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 446,003 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.5% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ------------------------------ ------------------------------- CUSIP No. 072728108 Page 6 of 19 Pages - ----------------------------- ------------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Neil H. Koffler - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER- 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 429,853 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 429,853 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 429,853 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.3% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ------------------------------ -------------------------- CUSIP No. 072728108 Page 7 of 19 Pages - ------------------------------ -------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC-BVI Partners - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 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 - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 222,313 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 222,313 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 222,313 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.7% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ------------------------------ ------------------------------- CUSIP No. 072728108 Page 8 of 19 Pages - ------------------------------- ------------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Ltd. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 222,313 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 222,313 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 222,313 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.7% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ------------------------------ ---------------------------- CUSIP No. 072728108 Page 9 of 19 Pages - ------------------------------ ---------------------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental, LLC - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 207,540 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 207,540 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 207,540 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO SCHEDULE 13D - ------------------------------ ------------------------ CUSIP No. 072728108 Page 10 of 19 Pages - ------------------------------ ------------------------ ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Employees' Savings and Profit Sharing Plan - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ------------------------------------------------------------------------------- 8 SHARED VOTING POWER 15,000 - ------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 15,000 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,000 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .18% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* EP Page 11 of 19 Pages AMENDMENT NO. 3 TO THE SCHEDULE 13D This statement constitutes Amendment No. 3 to the Schedule 13D relating to the Common Stock, par value $0.01 per share ("Common Stock"), of Baycorp Holdings Ltd (the "Issuer") filed by SC Fundamental Inc. ("SC"), The SC Fundamental Value Fund, L.P. ("Fund"), SC Fundamental Value BVI, Inc. ("BVI Inc."), Peter M. Collery ("Collery"), SC Fundamental, LLC (SCFLLC"), SC Fundamental Value BVI, Ltd. ("BVI Fund"), SC-BVI Partners ("SC-BVI"), Neil H. Koffler ("Koffler"), and SC Fundamental Employees' Savings and Profit Sharing Plan ("Employee Plan")(collectively, the "Reporting Persons"). Item 5. Interest in Securities of the Issuer (a) As of the close of business on January 10, 2000, the Reporting Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be deemed to own beneficiary in the aggregate the number and percentage of the Issuer's common stock set forth opposite their names below (based upon the number of Shares that were reported to be outstanding in the Issuer's Form 10Q as of September 30,1999. Page 12 of 19 Pages ===============================================================================
Name Shares of Common Stock Percentage - ---------------------------------------------------------------------------------------------------------------------------------- SC Fundamental Inc. 207,540 2.5% - ---------------------------------------------------------------------------------------------------------------------------------- The SC Fundamental Value Fund, L.P. 207,540 2.5% - ---------------------------------------------------------------------------------------------------------------------------------- SC Fundamental Value BVI, Inc. 222,313 2.7% - ---------------------------------------------------------------------------------------------------------------------------------- Peter M. Collery 446,003(1) 5.5% - ----------------------------------------------------------------------------------------------------------------------------------- SC BVI Partners 222,313 2.7% - ----------------------------------------------------------------------------------------------------------------------------------- SC Fundamental Value BVI, Ltd. 222,313 2.7% - ----------------------------------------------------------------------------------------------------------------------------------- SC Fundamental, LLC 207,540 2.5% - ----------------------------------------------------------------------------------------------------------------------------------- Neil H. Koffler 429,853 5.3% - ----------------------------------------------------------------------------------------------------------------------------------- SC Fundamental Employees' Savings and Profit Sharing Plan 15,000 .18% - ----------------------------------------------------------------------------------------------------------------------------------- (1) Includes 1,150 shares of the Issuer's common stock held by the Student Sponsor Partnership, Inc., a non profit educational company for which Mr. Collery is President. Mr. Collery disclaims beneficial ownership of such 1,150 shares.
Page 13 of 19 Pages (b) Collery, by virtue of his status as a member of SCFLLC, the general partner of Fund, and as the controlling stockholder, director and executive officer of SC, the corporate member and manager of SCFLLC, may be deemed to share with Fund, SCFLLC and SC the power to vote or direct the vote and to dispose or to direct the disposition of shares of common stock of which Fund is the direct beneficial owner. Koffler, by virtue of his status as a member of SCFLLC, the general partner of Fund, may be deemed to share with Fund and SCFLLC the power to vote or direct the vote and to dispose or to direct the disposition of Shares of common stock of which Fund is the direct beneficial owner. Collery, by virtue of his status as the controlling stockholder, director and executive officer, and Koffler by virtue of his status as an executive officer, of BVI Inc., the managing general partner of SC-BVI Partners which is the investment manager of BVI Fund, may be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which BVI Fund is the direct beneficial owner. BVI Fund and SC-BVI Partners are deemed to share with BVI Inc. the power to vote or direct the vote and the power to dispose or direct the disposition of such shares of Common Stock as to which BVI Inc. exercises such power. Collery, by virtue of his status as trustee of the Employee Plan, may be deemed to share with Employee Plan the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which Employee Plan is the direct beneficial owner. (c)The following table sets forth the transactions effected by each of the Reporting Persons listed in Item 5(a) during the past sixty days. Unless otherwise noted, each of the transactions set forth below reflects a sale effected on the American Stock Exchange. Page 14 of 19 Pages
BVI, Inc. Price Per on behalf Trade Date Share ($) Fund of BVI Ltd. Collery(1) - ----------------------------------------------------------------------------------------------------------------------------------- 11/23//99 8.0000 50* 50* 0 - ----------------------------------------------------------------------------------------------------------------------------------- 11/23/99 8.0938 220 180 0 - ----------------------------------------------------------------------------------------------------------------------------------- 11/24/99 8.0000 4,110 3,390 0 - ----------------------------------------------------------------------------------------------------------------------------------- 11/29/99 8.3523 11,010 9,090 0 - ----------------------------------------------------------------------------------------------------------------------------------- 11/30/99 8.8750 110 90 0 - ----------------------------------------------------------------------------------------------------------------------------------- 12/01/99 8.3750 3,620 2,980 400 - ----------------------------------------------------------------------------------------------------------------------------------- 12/02/99 8.6629 7,290 6,010 700 - ----------------------------------------------------------------------------------------------------------------------------------- 12/03/99 9.6726 16,400 13,525 1,575 - ----------------------------------------------------------------------------------------------------------------------------------- 12/06/99 9.9167 3,900 3,200 400 - ----------------------------------------------------------------------------------------------------------------------------------- 12/07/99 9.7699 5,730 4,720 550 - ----------------------------------------------------------------------------------------------------------------------------------- 12/08/99 9.6875 2,600 2,150 250 - ----------------------------------------------------------------------------------------------------------------------------------- 12/14/99 9.6957 1,200 985 115 - ----------------------------------------------------------------------------------------------------------------------------------- 12/20/99 9.5000 550 450 0 - ----------------------------------------------------------------------------------------------------------------------------------- 12/29/99 10.0000 3,840 3,160 0 - ----------------------------------------------------------------------------------------------------------------------------------- 12/30/99 9.9035 2,970 2,445 285 - ----------------------------------------------------------------------------------------------------------------------------------- 12/30/99 10.0000 2,740 2,260 0 - ----------------------------------------------------------------------------------------------------------------------------------- 12/31/999 9.9819 16,990 14,010 0 Page 15 of 19 Pages BVI, Inc. Price Per on behalf Trade Date Share ($) Fund of BVI Ltd. Collery(1) - ----------------------------------------------------------------------------------------------------------------------------------- 01/03/00 9.6875 31,450** 31,450* 0 - ----------------------------------------------------------------------------------------------------------------------------------- 01/03/00 10.5000 6,440 6,860 700 - ----------------------------------------------------------------------------------------------------------------------------------- 01/04/00 11.7645 10,050 10,470 1,080 - ----------------------------------------------------------------------------------------------------------------------------------- 01/05/00 12.9468 11,520 11,980 0 - ----------------------------------------------------------------------------------------------------------------------------------- 01/06/00 13.5000 4,330 4,625 45 - ----------------------------------------------------------------------------------------------------------------------------------- 01/07/00 12.8397 1,110* 1,190* 0 - ----------------------------------------------------------------------------------------------------------------------------------- 1/11/00 13.0000 2,300 2,450 250 - ----------------------------------------------------------------------------------------------------------------------------------- * reflects a purchase of shares. ** reflects a re-allocation of shares between affiliates. (1) All of the transactions effected in this column represent sales by Student Sponsor Partnership, Inc. ("SSP"), a non profit educational company for which Mr. Collery is President. Mr. Collery disclaims beneficial ownership of the shares held by SSP.
Page 16 of 19 Pages Item 7. Materials to be filed as Exhibits. Exhibit A Joint Filing Agreement, dated January 11, 2000 among the Reporting Persons. EXHIBIT INDEX Exhibit Description A Joint Filing Agreement dated January 11, 2000 among the Reporting Persons Page 17 of 19 Pages After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: January 11, 2000 SC FUNDAMENTAL LLC SC FUNDAMENTAL INC. SC Fundamental Inc. as Manager /s/ Neil H. Koffler /s/ Neil H. Koffler By: ---------------------------- By: ----------------------------- Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-in- in-Fact for Peter M. Collery Fact for Peter M. Collery, Vice President* Vice President* THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC SC-BVI Partners as General Partner By: SC Fundamental Value BVI, Inc. as Managing General Partner /s/ Neil H. Koffler /s/ Neil H. Koffler By: ----------------------------- By:------------------------------ Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-in- in-Fact for Peter M. Collery Fact for Peter M. Collery Vice President* Vice President* SC FUNDAMENTAL VALUE BVI, INC. /s/ Neil H. Koffler SC FUNDAMENTAL VALUE BVI, Ltd. By: ---------------------------- By: SC Fundamental Value BVI, Inc. Neil H. Koffler as Attorney- as Managing General Partner of in-Fact for Peter M. Collery Investment Manager Vice President* /s/ Neil H. Koffler By: ------------------------------ Neil H. Koffler as Attorney -in- Fact for Peter M. Collery Vice President* /s/ Neil H. Koffler - ----------------------------- SIEGLER, COLLERY &CO.EMPLOYEES SAVINGS AND PROFIT SHARING PLAN /S/ Neil H Koffler By:/s/ Neil H. Koffler By:-------------------------- ------------------------------- Neil H. Koffler as Attorney Neil H. Koffler as Attorney in Fact for Peter M. Collery* in-Fact for Peter M. Collery, Vice President* *Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery. The Powers of Attorney for Mr. Collery were filed as Exhibit A to Amendment No.5 to Schedule 13D relating to US Facilities Corporation on August 4, 1995 and is hereby incorporated herein by reference. > Page 18 of 19 Pages Exhibit A JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $0.01 per share, of Baycorp Holdings, Ltd and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned, hereby execute this Agreement this 11th day of January 2000. SC FUNDAMENTAL INC By: /s/ Peter M. Collery /s/ Neil H. Koffler - ------------------------------------- ------------------------------ Neil H. Koffler as Attorney- Neil H. Koffler in-Fact for Peter M. Collery Vice President(*) THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC, as General Partner By: /s/ Peter M. Collery - -------------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, INC. By: /s/ Peter M. Collery - -------------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) Page 19 of 19 Pages Siegler Collery and Co. Employees Savings And Profit Sharing Plan By:/s/ Neil H. Koffler - ------------------------------------ Neil H. Koffler as Attorney in-Fact for Peter M. Collery Vice President* /s/ Peter M. Collery - ---------------------------------------- Neil H. Koffler as Attorney- in Fact for Peter M. Collery(*) SC FUNDAMENTAL, LLC By: SC Fundamental Inc., as Manager By: /s/ Peter M. Collery - ---------------------------------------- Neil H. Koffler as Attorney- in Fact for Peter M. Collery Vice President (*) SC FUNDAMENTAL VALUE BVI, LTD. SC-BVI PARTNERS By: SC Fundamental Value BVI, By: SC Fundamental Value BVI Inc., as managing general Inc., as managing general partner of investment partner manager By: /s/ Neil H. Koffler /s/ Neil H. Koffler - ---------------------------------------- ------------------------------- Neil H. Koffler as Attorney-in- Neil H. Koffler as Attorney- Fact for Peter M. Collery, in-Fact for Peter M. Collery, Vice President(*) Vice President(*) (*)Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery. The Powers of Attorney for Mr. Collery were filed as Exhibit A to Amendment No.5 to the Schedule 13D relating to the US Facilities Corporation on August 4, 1995 and are hereby incorporated herein by reference. 260395 -----END PRIVACY-ENHANCED MESSAGE-----