-----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, Apl7PIzFwaodqWHiteQ1vfWeT9ZxgYK977FImK8Qrb660LAlFCD2mZlh6+Aooq+s gVW4xnSkK5vS6JpwO2vvRw== 0001047469-98-025166.txt : 19980625 0001047469-98-025166.hdr.sgml : 19980625 ACCESSION NUMBER: 0001047469-98-025166 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980624 SROS: NASD GROUP MEMBERS: G E INVESTMENT MANAGEMENT INC GROUP MEMBERS: GE INVESTMENT PRIVATE PLACEMENT PARTNERS II,LP GROUP MEMBERS: GENERAL ELECTRIC COMPANY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ELEPHANT & CASTLE GROUP INC CENTRAL INDEX KEY: 0000899849 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-50761 FILM NUMBER: 98653375 BUSINESS ADDRESS: STREET 1: 856 HOMER ST STREET 2: 701 WEST GEORGIA ST CITY: VANCOUVER B C CANADA STATE: A1 BUSINESS PHONE: 6046846451 MAIL ADDRESS: STREET 1: 701 W GEORGIA STREET STREET 2: SUITE 303 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: G E INVESTMENT MANAGEMENT INC CENTRAL INDEX KEY: 0000936839 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 3003 SUMMER STREET STREET 2: P O BOX 7900 CITY: STAMFORD STATE: CT ZIP: 06904-7900 BUSINESS PHONE: 2033262300 SC 13D/A 1 SCHEDULE 13D/A --------------------------------- OMB APPROVAL --------------------------------- CME Number 3235-0145 Expires: August 31, 1999 Estimated average burden hours per response . . . . 14.90 --------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3)* Elephant & Castle Group Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 266199-10-4 - -------------------------------------------------------------------------------- (CUSIP Number) Michael M. Pastore, GE Investment Management Incorporated, 3003 Summer Street, Stamford, CT 06904 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 23, 1998 - -------------------------------------------------------------------------------- (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(b)(3) or (4), check the following box. / / Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a 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 disclosures provided in a prior cover page. The information required on 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 ("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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMR control number. Page 1 of 16 - -------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons GE Investment Private Placement Partners II, Limited Partnership I.R.S. Identification Nos. of above persons (entities only) 06-1429671 - -------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) Not applicable (a) -------------------------------------------------------------------------------------------------- (b) - -------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) 00 - -------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) Not applicable - -------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization State of Delaware - -------------------------------------------------------------------------------------------------------------------- 7. Sole Voting Power Number of None Shares Bene- ficially by 8. Shared Voting Power Owned by 2,406,221 Each Reporting 9. Sole Dispositive Power Persons With None 10. Shared Dispositive Power 2,406,221 - -------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Benefically Owned by Each Reporting Person 2,406,221 - -------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) Not applicable - -------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 43.33% - ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------
Page 2 of 16 - ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons GE Investment Management Incorporated, as General Partner of GE Investment Private Placement Partners II, Limited Partnership I.R.S. Identification Nos. of above persons (entities only) 06-1238874 - -------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) Not applicable (a) -------------------------------------------------------------------------------------------------- (b) - -------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) Not applicable - -------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) Not applicable - -------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization State of Delaware - -------------------------------------------------------------------------------------------------------------------- 7. Sole Voting Power Number of None Shares Bene- ficially by 8. Shared Voting Power Owned by 2,406,221 Each Reporting 9. Sole Dispositive Power Persons With None 10. Shared Dispositive Power 2,406,221 - -------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Benefically Owned by Each Reporting Person 2,406,221 - -------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) Not applicable - -------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 43.33% - ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------
Page 3 of 16 - ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons General Electric Company I.R.S. Identification Nos. of above persons (entities only) 14-0689340 - -------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) Not applicable (a) -------------------------------------------------------------------------------------------------- (b) - -------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) Not applicable - -------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) /X/ - -------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization State of New York - -------------------------------------------------------------------------------------------------------------------- 7. Sole Voting Power Number of Disclaimed (See 11 below) Shares Bene- ficially by 8. Shared Voting Power Owned by None Each Reporting 9. Sole Dispositive Power Persons With Disclaimed (See 11 below) 10. Shared Dispositive Power None - -------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Benefically Owned by Each Reporting Person Beneficial ownership of all shares disclaimed by General Electric Company - -------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) Not applicable - -------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) Not applicable - -------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------
Page 4 of 16 Item 1. Security and Issuer. Item I of the Schedule 13D (as defined below) is hereby deleted in its entirety and the following is inserted in lieu thereof: "This Amendment No. 3 amends and supplements the Statement on Schedule 13D filed by GE Investment Private Placement Partners II, a Delaware limited partnership (the "Partnership"), GE Investment Management Incorporated, a Delaware corporation and a wholly-owned subsidiary of General Electric Company ("GEIM") and General Electric Company, a New York corporation ("GE") (collectively, the "Reporting Persons") with the Securities and Exchange Commission on November 30, 1995, as amended pursuant to Amendment No. 1 thereto filed on March 14, 1997 and Amendment No. 2 thereto filed on November 6, 1997 (as amended, the "Schedule 13D"), relating to common stock, no par value per share (the "Common Stock") of Elephant & Castle Group Inc. (the "Issuer"), having its principal offices at 856 Homer Street, Vancouver, British Columbia V6B 2W5 Canada. Capitalized terms used herein shall have the meanings given to them in the Schedule 13D and the Note, Stock Purchase and Warrant Agreement dated November 30, 1995, as amended on May 31, 1996, March 14, 1997 and October 17, 1997 (the "Agreement"). The Reporting Persons have entered into a Joint Filing Agreement, dated June 23, 1998 attached hereto as Schedule I." Item 3. Source and Amount of Funds and Other Consideration. Paragraph 2 of Item 3 of the Schedule 13D is hereby amended (a) by deleting the date "June 30, 1998" in clause (iv) thereof and inserting in lieu thereof "June 23, 1998" and (b) by adding the following text thereto: "Pursuant to the Agreement, on the Fourth Closing Date the Partnership purchased convertible subordinated Notes in the principal amount of $2,000,000. Due to the fact that the Fourth Closing occurred prior to June 30, 1998, the conversion rates for each of the convertible subordinated Notes issued and delivered to the Partnership on the First Closing Date, the Second Closing Date and the Third Closing Date have been adjusted, pursuant to Section 9A of the Agreement, to equal the conversion rate of the subordinated Notes delivered to the Partnership at the Fourth Closing. As a result, all of the Notes are now convertible into shares of Common Stock at a conversion price of the lesser of (x) $6.00 per share and (y) the greater of (A) $5.00 per share and (B) 85% of the Market Price on the Fourth Closing Date. The funds used by the Partnership to pay for the Notes were obtained from capital contributions made by its partners pursuant to pre-existing capital commitments." Item 4. Purpose of Transaction. Paragraph 5 of Item 4 of the Schedule 13D is hereby amended to read as follows: "On the Fourth Closing Date, the Partnership purchased from the Issuer additional convertible subordinated Notes in the aggregate principal amount of $2,000,000 convertible into shares of Common Stock at a conversion price of the lesser of (x) $6.00 per share and (y) the greater of (A) $5.00 per share and (B) 85% of the Market Price on the Fourth Closing Date." Item 5. Interest In Securities of the Issuer. Item 5(a) of the Schedule 13D is hereby deleted in its entirety and the following is inserted in lieu thereof: Page 5 of 16 "The Partnership and GEIM beneficially own 2,406,221 shares of Common Stock, representing 43.33% of the shares of such class that would be outstanding upon (i) the exercise of all the outstanding Warrants exercisable for 300,000 shares of Common Stock, (ii) the conversion of all the outstanding Notes, which are convertible into 1,800,000 shares of Common Stock (calculated using the Fourth Closing Date as the relevant date for purposes of determining the conversion ratios), (iii) the issuance of 28,000 Additional Shares of Common Stock which have not yet been issued, but which the Partnership previously became entitled to receive, as set forth in paragraph 3 of Item 3, because Notes were outstanding on certain dates set forth therein, and (iv) the receipt of 26,000 shares of Common Stock that the Partnership became entitled to, or will within the next 60 days become entited to receive, due to the occurrence and continuance of Defaults in each of the three month periods ending on September 30, 1997, December 31, 1997, March 31, 1998 and June 30, 1998. Due to the fact that the Fourth Closing has occurred prior to June 30, 1998, the conversion rates for each of the convertible subordinated Notes issued and delivered to the Partnership on the First Closing Date, the Second Closing Date and the Third Closing Date have been adjusted, pursuant to Section 9A of the Agreement, to equal the conversion rate of the subordinated Notes delivered to the Partnership at the Fourth Closing. As a result, all of the Notes are now convertible into the shares of Common Stock at a conversion price of the lesser of (x) $6.00 per share and (y) the greater of (A) $5.00 per share and (B) 85% of the Market Price on the Fourth Closing Date." Item 5(c) of the Schedule 13D is hereby amended and restated to read as follows: "Except as set forth in Items 4 and 5 hereof, no Reporting Person nor to the best knowledge of each Reporting Person, any person identified in Schedules II or III, beneficially owns any shares of Common Stock or has effected any transaction in shares of Common Stock during the preceding 60 days." Item 7. Material to Be Filed as Exhibits. Item 7 of the Schedule 13D is hereby amended by deleting paragraph 1 and by inserting the following paragraph at the end thereof: "Amendment No. 3 dated October 17, 1997, to the Note, Stock Purchase & Warrant Agreement, dated November 30, 1995 (as amended) was attached as Exhibit I to the Amendment No. 2 dated November 4, 1997, to Schedule 13D filed by the Reporting Persons on November 6, 1997 and is incorporated herein by reference." Schedules I, II and III. Schedules I, II and III of the Schedule 13D are hereby amended and restated in their entirety as set forth in the revised versions thereof attached hereto. Page 6 of 16 Signature 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. GE INVESTMENT PRIVATE PLACEMENT PARTNERS II, LIMITED PARTNERSHIP By: GE Investment Management Incorporated, Its General Partner By: /s/ Michael M. Pastore --------------------------------------- Name: Michael M. Pastore Title: Vice President Dated: June 23, 1998 Page 7 of 16 Signature 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. GE INVESTMENT MANAGEMENT INCORPORATED By: /s/ Michael M. Pastore --------------------------------------- Name: Michael M. Pastore Title: Vice President Dated: June 23, 1998 Page 8 of 16 Signature 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. GENERAL ELECTRIC COMPANY By: /s/ John H. Myers --------------------------------------- Name: John H. Myers Title: Vice President Dated: June 23, 1998 Page 9 of 16 Schedule I JOINT FILING AGREEMENT The undersigned parties hereby agree that the Schedule 13D filed herewith (and any amendments thereto) relating to the Stock of Elephant & Castle Group Inc. is being filed jointly with the Securities and Exchange Commission pursuant to Rule 13d-1(k) on behalf of each such person. Dated: June 23, 1998 GE INVESTMENT PRIVATE PLACEMENT PARTNERS II, LIMITED PARTNERSHIP By: GE Investment Management Incorporated, Its General Partner By: /s/ Michael M. Pastore --------------------------------- Name: Michael M. Pastore Title: Vice President GE INVESTMENT MANAGEMENT INCORPORATED By: /s/ Michael M. Pastore --------------------------------- Name: Michael M. Pastore Title: Vice President GENERAL ELECTRIC COMPANY By: /s/ John H. Myers --------------------------------- Name: John H. Myers Title: Vice President Page 10 of 16 Schedule II GE INVESTMENT MANAGEMENT INCORPORATED, General Partner of GE Investment Private Placement Partners II, Limited Partnership The business address of each of the persons listed below is 3003 Summer Street, P.O. Box 7900, Stamford, Connecticut 06904. The names and principal occupations of the Officers of GE Investment Management Incorporated ("GEIM") are as follows:
Officers Position(s) - -------- ----------- John H. Myers Chairman of the Board and President Eugene K. Bolton Executive Vice President Michael J. Cosgrove Executive Vice President Ralph R. Layman Executive Vice President Alan M. Lewis Executive Vice President, General Counsel and Secretary Robert A. MacDougall Executive Vice President Geoffrey R. Norman Executive Vice President Thomas J. Szkutak Executive Vice President--Chief Financial Officer Donald W. Torey Executive Vice President Mark A. Dunham Senior Vice President James A. Mara Senior Vice President--International Private Equities H. Michael Mears Senior Vice President Philip A. Riordan Senior Vice President Brian D. Brooks Vice President Constance K. Doyle Vice President Keith G. Smith Vice President Michael D. Wright Vice President William R. Wright Vice President
Page 11 of 16 David W. Wiederecht Vice President--Private Equities Wolfe H. Bragin Vice President--Private Equities Andreas T. Hildebrand Vice President--Private Equities Patrick J. McNella Vice President--Private Equities Anthony J. Mariani Vice President--Private Equities B. Bradford Barrett Vice President--Real Estate Robert P. Gigliotti Vice President--Real Estate Preston R. Sargent Vice President--Real Estate Marc R. Bryant Vice President--Assoc. Gen. Counsel and Assistant Secretary Jeanne M. La Porta Vice President--Assoc. Gen. Counsel and Assistant Secretary Michael M. Pastore Vice President--Assoc. Gen. Counsel and Assistant Secretary Scott A. Silberstein Vice President--Assoc. Gen. Counsel and Assistant Secretary Matthew J. Simpson Vice President--Assoc. Gen. Counsel and Assistant Secretary Michael J. Strone Vice President--Assoc. Gen. Counsel and Assistant Secretary Robert Zalucki Vice President--Tax Counsel
The names and principal occupations of the Directors of GEIM are as follows: Eugene K. Bolton Executive Vice President of GEIC and GEIM and Trustee of GEPT Michael J. Cosgrove Executive Vice President of GEIC and GEIM and Trustee of GEPT John H. Myers Vice President of General Electric Company, Chairman of the Board and President of GEIC and GEIM and Trustee of GEPT Ralph R. Layman Executive Vice President of GEIC and GEIM and Trustee of GEPT Alan M. Lewis Executive Vice President, General Counsel and Secretary of GEIC and GEIM and Trustee of GEPT Robert A. MacDougall Executive Vice President of GEIC and GEIM and Trustee of GEPT Geoffrey R. Norman Executive Vice President of GEIC and GEIM Thomas J. Szkutak Executive Vice President--Chief Financial
Page 12 of 16 Officer of GEIC and GEIM and Trustee of GEPT Donald W. Torey Executive Vice President of GEIC and GEIM and Trustee of GEPT
Page 13 of 16 Schedule III GENERAL ELECTRIC COMPANY EXECUTIVE OFFICERS The business address of each of the persons listed below is 3135 Easton Turnpike, Fairfield, Connecticut 06431. The names and principal occupations of the Officers of General Electric Company are as follows:
Officers Position(s) - -------- ----------- J.F. Welch, Jr. Chairman of the Board and Chief Executive Officer P. Fresco Vice Chairman of the Board and Executive Officer P.D. Ameen Vice President and Comptroller J.R. Bunt Vice President and Treasurer D.L. Calhoun Senior Vice President--GE Lighting W.J. Conaty Senior Vice President--Human Resources D.M. Cote Vice President--GE Appliances D.D. Dammerman Senior Vice President--Finance L.S. Edelheit Senior Vice President--Corporate Research and Development B.W. Heineman, Jr. Senior Vice President--General Counsel and Secretary J.R. Immelt Senior Vice President--GE Medical Systems W.J. Lansing Vice President--Corporate Business Development G. S. Malm Senior Vice President--Asia W.J. McNerney, Jr. Senior Vice President--GE Aircraft Engines E.F. Murphy Vice Chairman of the Board and Executive Officer R.L. Nardelli Senior Vice President--GE Power Systems R.W. Nelson Vice President--Corporate Financial Planning and Analysis J.D. Opie Vice Chairman of the Board and Executive Officer G.M. Reiner Senior Vice President--Chief Information Officer
Page 14 of 16 J. G. Rice Vice President--GE Transportation Systems G.L. Rogers Senior Vice President--GE Plastics J.W. Rogers Vice President--GE Motors L.G. Trotter Vice President--GE Electrical Distribution and Control
The names and principal occupations of Directors of General Electric Company are as follows: D.W. Calloway Chairman of the Board, Chief Executive Officer and Director, PepsiCo, Inc. J.I. Cash, Jr. Professor of Business Administration- Graduate School of Business Administration, Harvard University S.S. Cathcart Retired Chairman, Illinois Tool Works D.D. Dammerman Senior Vice President--Finance, General Electric Company P. Fresco Vice Chairman of the Board and Executive Officer, General Electric Company C.X. Gonzalez Chairman of the Board and Chief Executive Officer, Kimberly-Clark de Mexico, S.A. de C.V. G.G. Michelson Former Director, Federated Department Stores E.F. Murphy Vice Chairman of the Board and Executive Officer S. Nunn Partner, King & Spalding J.O. Opie Vice Chairman of the Board and Executive Officer, General Electric Company R.S. Penske Chairman of the Board and President, Penske Corporation F.H.T. Rhodes President Emeritus, Cornell University A.C. Sigler Retired Chairman of the Board and CEO and former Director, Champion International Corporation D.A. Warner III Chairman of the Board, President, and Chief Executive Officer, J.P. Morgan & Co. Incorporated and Morgan Guaranty Trust Company J.F. Welch, Jr. Chairman of the Board and Chief Executive Officer, General Electric Company
Citizenship (other than United States) Page 15 of 16 C.X. Gonzalez Mexico P. Fresco Italy Page 16 of 16 -----END PRIVACY-ENHANCED MESSAGE-----