SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Hillman Capital CORP (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Cambridge Display Technology, Inc. [ OLED ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/21/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/21/2004		C		1,025,062(5)	A	(1)	2,104,345(5)	I(2)	By Hillman CDT 2000 LLC(2)
Common Stock								2,131,633(5)	I(2)	By Hillman CDT LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series B Convertible Preferred Stock	(1)	12/21/2004		C			5,467	(3)	(4)	Common Stock	1,025,062(5)	(1)	0	I(2)	By Hillman CDT 2000 LLC(2)

1. Name and Address of Reporting Person* Hillman Capital CORP (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* HILLMAN CAPITAL MANAGEMENT 2000 LLC (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* HILLMAN CAPITAL MANAGEMENT LLC (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Hillman CDT 2000 LLC (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Hillman CDT LLC (Last) (First) (Middle) 900 THIRD AVENUE, 5TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Hillman Gerald Paul (Last) (First) (Middle) 900 THIRD AVENUE (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Automatic conversion of series B convertible preferred stock exempt under Rule 16b-6 equal to (i) 2.25 times the initial purchase price of such share of preferred stock divided by (ii) $12.00.

2. Hillman Capital Management LLC is the sole managing member of Hillman CDT LLC, and Hillman Capital Management 2000 LLC is the sole managing member of Hillman CDT 2000 LLC. Hillman Capital Corporation is the sole managing member of each of Hillman Capital Management 2000 LLC and Hillman Capital Management LLC. Mr. Hillman is the sole stockholder of Hillman Capital Corporation. Mr. Hillman expressly disclaims beneficial ownership of the securities owned by Hillman CDT LLC and Hillman CDT 2000 LLC, and this report shall not be deemed an admission that Mr. Hillman is the beneficial owner of these securities for purposes of Section 16 or any other purposes.

3. These securities are convertible immediately.

4. These securities are mandatorily redeemable for cash on the tenth anniversary of the date on which the issuer's convertible preferred stock was first issued.

5. Share and price information reflect a 0.5851807-for-one reverse stock split effected on December 21, 2004.

Remarks:

This joint Form 4 is being filed by Hillman Capital Corporation on its behalf and on behalf of Hillman Capital Management 2000 LLC, Hillman Capital Management LLC, Hillman CDT 2000 LLC, Hillman CDT LLC and Gerald Paul Hillman

	Hillman Capital Corporation By: Michael Black, Attorney-in-fact	12/23/2004
	Hillman Capital Management 2000 LLC By: Michael Black, Attorney-in-fact	12/23/2004
	Hillman Capital Management LLC By: Michael Black, Attorney-in-fact	12/23/2004
	Hillman CDT 2000 LLC By: Michael Black, Attorney-in-fact	12/23/2004
	Hillman CDT LLC By: Michael Black, Attorney-in-fact	12/23/2004
	Michael Black, Attorney-in-fact for Mr. Hillman	12/23/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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