-----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, Ig8+hj8Y6AIHHLoMnOHEhO2eIObyfHT53MqUzZHIc6TO2Izx3R242/poK9Y7dCIG dJLQ8Ey9FEXP9WtE08ZGMA== 0000932799-99-000074.txt : 19990721 0000932799-99-000074.hdr.sgml : 19990721 ACCESSION NUMBER: 0000932799-99-000074 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990720 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: 99667209 BUSINESS ADDRESS: STREET 1: 100 MAIN ST STREET 2: COCHECO FALLS MILLWORKS CITY: DOVER STATE: NH ZIP: 03820 BUSINESS PHONE: 6037423388 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. 2) 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) July 15, 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 379,640 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 379,640 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 379,640 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% - ----------------------------------------------------------------------------- 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 314,363 - ------------------------------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 314,363 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 314,363 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8% - ----------------------------------------------------------------------------- 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 379,640 - ---------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 379,640 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 379,640 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% - ----------------------------------------------------------------------------- 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 Gary N. Siegler - ----------------------------------------------------------------------------- 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 709,003 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 709,003 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 709,003 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.7% - ----------------------------------------------------------------------------- 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 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 716,503 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 716,503 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 716,503 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.7% - ----------------------------------------------------------------------------- 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 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 694,003 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 694,003 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 694,003 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.5% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ============================================================================== *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-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 United States - ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH - ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 - ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 314,363 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 314,363 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 314,363 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ============================================================================== *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 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 314,363 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 314,363 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 314,363 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! 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, 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 379,640 - ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 379,640 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 379,640 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ----------------- CUSIP No. 072728108 Page 11 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 ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! Page 12 of 19 Pages AMENDMENT NO. 2 TO THE SCHEDULE 13D This statement constitutes Amendment No. 2 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."), Gary N.Siegler ("Siegler"), 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 July 20, 1999, 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 May 7, 1999. Page 13 of 19 Pages =============================================================================
Name Shares of Common Stock Percentage - ----------------------------------------------------------------------------- SC Fundamental Inc. 379,640 4.6% - ----------------------------------------------------------------------------- The SC Fundamental Value Fund, L.P. 379,640 4.6% - ----------------------------------------------------------------------------- SC Fundamental Value BVI, Inc. 314,363 3.8% - ----------------------------------------------------------------------------- Gary N. Siegler 709,003 8.7% - ----------------------------------------------------------------------------- Peter M. Collery 716,503(1) 8.7% - ----------------------------------------------------------------------------- SC BVI Partners 314,363 3.8% - ----------------------------------------------------------------------------- SC Fundamental Value BVI, Ltd. 314,363 3.8% - ----------------------------------------------------------------------------- SC Fundamental, LLC 379,640 4.6% - ----------------------------------------------------------------------------- Neil H. Koffler 694,003 8.5% - ----------------------------------------------------------------------------- SC Fundamental Employees' Savings and Profit Sharing Plan 15,000 .18% - ----------------------------------------------------------------------------- (1) Includes 7,500 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 7,500 shares.
Page 14 of 19 Pages (b) Siegler and Collery, by virtue of their status as principal members of SCFLLC, the general partner of Fund, and as the controlling stockholders, directors and executive officers 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 an employee 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. Siegler and Collery, by virtue of their status as controlling stockholders, directors and executive officers, and Koffler by virtue of his status as an executive officer, of BVI Inc., the managing general partner of SC-BVI Partners and 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. Because BVI Fund and SC-BVI Partners could be 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 (and as to which BVI Inc. exercises such power), BVI Fund and SC-BVI Partners have been added as Reporting Persons. Siegler and Collery, by virtue of their status as trustees 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 15 of 19 Pages
BVI, Inc. Price Per on behalf Trade Date Share ($) Fund of BVI Ltd. - ----------------------------------------------------------------------------- 7/01/99 6.0000 86,150* 86,150* - -------------------------------------------------------------------------------- 7/02/99 6.0000 1,100 900 - -------------------------------------------------------------------------------- 7/07/99 6.0750 13,650 11,350 - -------------------------------------------------------------------------------- 7/07/99 6.3125 1,040 860 - --------------------------------------------------------------------------- 7/09/99 6.1029 4,640 3,860 - ---------------------------------------------------------------------------- 7/12/99 6.0225 20,550 16,950 - --------------------------------------------------------------------------- 7/15/99 6.5000 2,740 2,260 - --------------------------------------------------------------------------- 7/15/99 6.6755 7,730 6,370 - -------------------------------------------------------------------------------- 7/16/99 6.2500 820 680 - --------------------------------------------------------------------------- * reflects a re-allocation of shares between affiliates.
Page 16 of 19 Pages Item 7. Materials to be filed as Exhibits. Exhibit A - Joint Filing Agreement, dated July 20, 1999 among the Reporting Persons. EXHIBIT INDEX Exhibit Description A Joint Filing Agreement dated July 20, 1999 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: July 20, 1999 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 - ---------------------------- /s/ Neil H. Koffler Neil H. Koffler as Attorney- By: ------------------------------ in-Fact for Gary N. Siegler* 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 and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler 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 20th day of July, 1999. 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 /s/ Gary N. Siegler Siegler Collery and Co. - ----------------------------- Employees Savings and Neil H. Koffler as Attorney- Profit Sharing Plan in Fact for Gary N. Siegler(*) By:/s/ Neil H. Koffler ----------------------- Neil H. Koffler as Attorney /s/ Peter M. Collery in-Fact for Peter M. Collery - ------------------------------ Vice President 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/ Peter M. Collery /s/ Peter M. Collery - -------------------------------- ------------------------------- 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 and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler 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-----