-----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, VMUszSCCHPKi8N6Kd7YlfHnrFipMaDJYZH4Xcw5xHgpRezuEgM4jPjmigTuRYoPy x94TiiLpDBK61qpF81Kd9g== /in/edgar/work/0000002852-00-000028/0000002852-00-000028.txt : 20001120 0000002852-00-000028.hdr.sgml : 20001120 ACCESSION NUMBER: 0000002852-00-000028 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20001117 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PLANET POLYMER TECHNOLOGIES INC CENTRAL INDEX KEY: 0000896861 STANDARD INDUSTRIAL CLASSIFICATION: [8731 ] IRS NUMBER: 330502606 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-49423 FILM NUMBER: 772637 BUSINESS ADDRESS: STREET 1: 9985 BUSINESS PARK WAY STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 BUSINESS PHONE: 6195495130 MAIL ADDRESS: STREET 1: 9985 BUSINESSPARK AVE STREET 2: STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 FORMER COMPANY: FORMER CONFORMED NAME: PLANET POLYMER TECHNOLOGY INC DATE OF NAME CHANGE: 19950511 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AGWAY INC CENTRAL INDEX KEY: 0000002852 STANDARD INDUSTRIAL CLASSIFICATION: [2040 ] IRS NUMBER: 150277720 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 333 BUTTERNUT DR CITY: DEWITT STATE: NY ZIP: 13214 BUSINESS PHONE: 3154496431 SC 13D/A 1 0001.txt AMENDMENT NO. 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 4)* Planet Polymer Technologies, Inc. -------------------------------------------------------------- (Name of Issuer) Common Stock, No Par Value --------------------------------------------------------------- (Title of Class of Securities) 727044109 ----------------------------------------------------- (CUSIP Number) Christopher W. Fox, Esq. c/o Agway Inc. P.O. Box 4933 Syracuse, New York 13221-4933 315-449-6432 ------------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 14, 2000 -------------------------------------------------------------- (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 13d-1(e), 13d-1(f), or 13d-1(g), check the following box . ---- Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter 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 the purpose of Section 18 of the Securities Exchange Act of 1934 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). SCHEDULE 13D/A CUSIP No. 727044109 - ------------------------------------------------------------------------ (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Agway Inc. (I.R.S. Identification No. 15-0277720) - ------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |x| (b) | | - ------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------ (4) SOURCE OF FUNDS* AF - ------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO 2(d) OR 2(e) ---- - ------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER 0 shares SHARES ------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 3,000,000 shares OWNED BY ------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER 0 shares REPORTING ------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 3,000,000 shares - ------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,000,000 shares - ------------------------------------------------------------------------- - ------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 35% - ------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* CO - ------------------------------------------------------------------------- SCHEDULE 13D/A CUSIP No. 727044109 - ------------------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Agway Financial Corporation (I.R.S. Identification No. 06-1174232) - ------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |x| (b) | | - ------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------- (4) SOURCE OF FUNDS* WC - ------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO 2(d) OR 2(e) ------ - ------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER 0 shares SHARES ------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 3,000,000 shares OWNED BY ------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER 0 shares REPORTING ------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 3,000,000 shares - ------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,000,000 shares - ------------------------------------------------------------------------- - ------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 35% - ------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* CO - ------------------------------------------------------------------------- SCHEDULE 13D/A CUSIP No.727044109 - ------------------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Agway Holdings Inc. (I.R.S. Identification No. 06-1174231) - ------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) | | - ------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------- (4) SOURCE OF FUNDS* AF - ------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO 2(d) OR 2(e) ----- - ------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER 0 shares SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 3,000,000 shares OWNED BY -------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER 0 shares REPORTING -------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 3,000,000 shares - ------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,000,000 shares - ------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 35% - ------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* CO - ------------------------------------------------------------------------- Item 1. Security and Issuer. This Schedule relates to the Common Stock, no par value, of Planet Polymer Technologies, Inc. The Issuer's principal executive offices are located at 9985 Businesspark Avenue, Suite A, San Diego, CA 92131. Item 2. Identity and Background. (a) This Schedule is filed on behalf of (i) Agway Inc., a Delaware corporation ("Agway"); (ii) Agway Financial Corporation, a Delaware corporation and wholly owned subsidiary of Agway ("AFC"); and (iii) Agway Holdings Inc., a Delaware corporation and wholly owned subsidiary of AFC ("AHI"). Each of the foregoing is hereinafter referred to, individually, as a "Reporting Person" and, collectively, as the "Reporting Persons." Information required by items 2 through 6 of this Schedule is also being provided regarding the directors and executive officers of Agway, AFC and AHI (the "Individuals"). (b) The principal office and business address of the Reporting Persons is c/o Agway Inc., 333 Butternut Drive, DeWitt, NY 13214. (c) Agway is an agricultural cooperative that is directly engaged in manufacturing, processing, distribution and marketing of agricultural feed and agronomic products (seed and fertilizers) and services to its farmer-members and other customers, primarily in the Northeastern United States and Ohio. In addition, Agway is involved in repackaging and marketing of produce and processing and marketing sunflower seeds. Agway, through certain of its subsidiaries, is involved in the distribution of petroleum products; the installation and servicing of heating, ventilation, and air-conditioning equipment; lease financing; the underwriting and sale of certain types of property and casualty insurance; and the sale of health insurance. AFC is a wholly owned subsidiary of Agway whose principal business consists of securing financing through bank borrowings and the issuance of corporate debt instruments to provide funds for general corporate purposes to Agway and its direct subsidiaries and to AHI and AHI's subsidiaries. AHI is a wholly owned subsidiary of AFC and is a holding company for various subsidiaries involved in distribution of petroleum products; the installation and servicing of heating, ventilation, and air-conditioning equipment; leasing financing; the underwriting and sale of certain types of property and casualty insurance; and the sale of health insurance. The names and certain information regarding the directors and executive officers of Agway, AFC and AHI are set forth in Exhibit G. (d) N/A (e) N/A (f) Agway is a Delaware corporation. AFC is a Delaware corporation. AHI is a Delaware corporation. The Individuals are all United States citizens. Item 3. Source and Amount of Funds or Other Consideration. The securities were purchased (i) in the case of the acquisition by AHI of the securities covered by this Schedule 13D/A, by an advance to AHI of the aggregate purchase price from the available cash assets of AFC and (ii) in the case of individuals (see Item 5), from personal cash assets. Item 4. Purpose of the Transaction. Under the Warrant agreement dated January 11, 1999, as amended, Agway Holdings Inc. (AHI) had the right through January 11, 2001, to purchase up to all or any part of the 1,000,000 Warrant shares of Common Stock of Planet for $1.00 per share. As of September 30, 2000, Planet's net tangible assets were approximately $1.6 million. In a discussion with a representative from Nasdaq, Planet was given until Novwmber 15, 2000, to comply with the $2 million net tangible asset requirement or appeal the staff determination that Planet be removed from the quotation system for not meeting the net tangible asset requirement. In response to an offer by Planet to reduce the Warrant exercise price from $1.00 per share to $0.75 per share, and pursuant to an Agreement dated November 14, 2000, AHI agreed to exercise the remaining Warrants to purchse 1,000,000 shares of Planet Common stock immediately at $0.75 per share in order to assist Planet in its effort to avoid being removed from the Nasdaq Small Cap Market quotation system. In addition, on November 14, 2000, AHI and Planet agreed to sell, assign and transfer to AHI patent rights to Planet's animal feed additives, fruit and vegetable coatings, and controlled-release fertilizer (the "Patents"), for a cash price of $250,000 and continuation of royalty payments equal to the payments Planet would otherwise be entitled to receive pursuant to its existing license agreement with AHI and the sublicense agreements related thereto, as such agreements may be amended from time to time by mutual agreement of the parties. Planet has, in turn, agreed to pay AHI $150,000 in return for an exclusive worldwide royalty-free license to use and commercially exploit all rights related to the Patents for all uses other than food and agricultural initiatives. Item 5. Interest in Securities of the Issuer. See pps. 2-4 of this Schedule, setting forth the aggregate number and percentage of the Securities beneficially owned by each Reporting Person, the number of shares as to which there is sole or shared power to vote, or to direct the vote, and sole or shared power to dispose or to direct the disposition. See Exhibit G of this Schedule, setting forth the aggregate number and percentage of the Securities beneficially owned by each of the Individuals listed therein, the number of shares as to which there is sole or shared power to vote, or to direct the vote, and sole or shared power to dispose or to direct the disposition. The Company does not have beneficial ownership of the securities owned by each of the Individuals listed therein and specifically disclaims such beneficial ownership. The information in Exhibit G of this Schedule summarizes the information provided to AHI by these Individuals. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Not applicable. Item 7. Materials to be Filed as Exhibits: Exhibit G - Information Regarding Directors and Executive Officers of Agway, AFC and AHI. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. November 17, 2000 /s/ Peter J. O'Neill ---------------------------- Agway Inc. by: Peter J. O'Neill Senior Vice President Finance & Control /s/ Peter J. O'Neill ------------------------------- Agway Financial Corporation by: Peter J. O'Neill Vice President & Director /s/ Peter J. O'Neill ------------------------------- Agway Holdings Inc. by: Peter J. O'Neill Vice President & Director EX-99.7 2 0002.txt EXHIBIT G EXHIBIT G Information with Respect to Executive Officers and Directors of the Undersigned ----------------------------------------- The following sets forth as to each of the executive officers and directors of the undersigned: his name; his business address; and his present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted. Unless otherwise specified, the principal employer of each officer is Agway, AFC, or AHI, the business address of each of which is c/o Agway Inc., P.O. Box 4933, Syracuse, New York 13221-4933 (tel. 315-449-6436) and each such individual identified below is a citizen of the United States. The principal occupation of all directors of Agway is full-time farming. To the knowledge of the Reporting Persons, during the last five years, no such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and no such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws except as reported in Item 2(d) of this Schedule 13D.
Agway Inc. Officers ------------------- Shares Beneficially Name Present Principal Occupation Owned - ---------------------- ---------------------------------------------------- ------------ Donald P. Cardarelli President and Chief Executive Officer 0 Daniel J. Edinger President, Telmark LLC 0 John F. Feeney Corporate Controller 0 Robert A. Fischer, Jr. President, Agriculture and Retail Group 0 Christopher W. Fox Vice President, Deputy General Counsel and Secretary 0 David M. Hayes Senior Vice President and General Counsel 0 Stephen H. Hoefer Senior Vice President, Public Affairs 0 Michael R. Hopsicker President, Agway Energy Products LLC 0 Karen A. Ohliger Treasurer 0 Dennis J. LaHood President, Country Products Group 37,083 Peter J. O'Neill Senior Vice President, Finance & Control 18,000 William L. Parker Vice President and Chief Information Officer 0 Michael P. Spyker Vice President, Membership 0 Gerald R. Seeber Senior Vice President, Administrative Services and President, 0 Agway Insurance Group G. Leslie Smith Vice President and Chief Investment Officer 0
Agway Inc. Board of Directors ----------------------------- Shares Beneficially Name Business Name Business Address Owned - ------------------ ------------------ ------------------- ------------ Keith H. Carlise Carlisle Bros., Inc. RD 1, Box 72A 4,000 Rt. 36 Greenwood, DE 19950 D. Gilbert Couser Shawangunk View Farm 426 Drexel Dr. 0 Pine Bush, NY 12566 Andrew J. Gilbert Adon Farms Box 517 1,000 State Highway 72 Potsdam, NY 13676 Robert L. Marshman Marshman Farms RD 3, Box 116 (E. River Rd.) 0 Oxford, NY 13830 Jeffrey B. Martin Martin Farms RD #4, Ridge Road 1,000 Cazenovia, NY 13035 Samuel F. Minor The Spring House 1531 Rt. 136 1,000 Spring House Washington, PA 15301 Richard H. Skellie Richland Farms 650 Skellie Road 0 Salem, NY 12865 Carl D. Smith Hillacre Farms RD 1, Box 1335 15,000 Smith Road Corinna, ME 04928 Thomas E. Smith Lazy Acres Dairy 180 Osborn Rd. 0 Greenville, PA 16125 Gary K. Van Slyke Van Slyke's Dairy Farm 5633 Griffith Road 0 Portageville, NY 14536 Joel L. Wenger Weng-Lea Farms 8988 Hades Church Rd. 300 Greencastle, PA 17225 Edwin C. Whitehead White Ayr Farms 71 Popple Swamp Rd. 3,000 Washington Depot, CT 06794 Dennis C. Wolff Pen-Col 1048 State Route 254 0 Millville, PA 17846-9669 William W. Young Will-O-Crest Farm 800 County Rd. 27 1,987 Clifton Springs, NY 14432
Agway Financial Corporation Board of Directors and Officers ------------------------------- Name Present Title Shares Beneficially Owned - -------------------- ------------------------- ------------------------- Donald P. Cardarelli Chairman of the Board, 0 President, & Director Peter J. O'Neill Vice President & Director 18,000 Christopher W. Fox Director 0 Karen A. Ohliger Treasurer 0
Agway Holdings Inc. Board of Directors & Officers ----------------------------- Name Present Title Shares Beneficially Owned - -------------------- --------------------- ------------------------- Donald P. Cardarelli Chairman of the Board, 0 President, & Director Peter J. O'Neill Vice President & Director 18,000 Dennis J. LaHood Vice President 37,083 Christopher W. Fox Director 0 Karen A. Ohliger Treasurer 0
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