-----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, EXy1FEV5yfnpyIO4wxCs97Vh+0pUfvcxrLEzueCYnukLVb1dC01ejtPA9UuBYJv4 krkcF/Al6Q2T4A7i13sHVA== 0000950172-01-501381.txt : 20020413 0000950172-01-501381.hdr.sgml : 20020413 ACCESSION NUMBER: 0000950172-01-501381 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20011228 GROUP MEMBERS: MAFCO CONSOLIDATED GROUP INC. GROUP MEMBERS: MAFCO CONSOLIDATED HOLDINGS INC. GROUP MEMBERS: PX HOLDING CORPORATION SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: M & F WORLDWIDE CORP CENTRAL INDEX KEY: 0000945235 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728] IRS NUMBER: 020423416 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46325 FILM NUMBER: 1824393 BUSINESS ADDRESS: STREET 1: 35 E 62ND ST CITY: NEW YUORK STATE: NY ZIP: 10021 BUSINESS PHONE: 2125728600 MAIL ADDRESS: STREET 1: 35 EAST 62ND STREET CITY: NEW YORK STATE: NY ZIP: 10021 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MAFCO HOLDINGS INC CENTRAL INDEX KEY: 0000918939 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133603886 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 38 EAST 63RD STREET CITY: NEW YORK STATE: NY ZIP: 10021 BUSINESS PHONE: 2125728600 MAIL ADDRESS: STREET 1: 38 EAST 63RD STREET CITY: NEW YORK STATE: NY ZIP: 10021 SC 13D/A 1 s581185.txt SC 13D - AMENDMENT NO. 15 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 15) M & F Worldwide Corp. (Name of issuer) Common Stock, par value $.01 per share -------------------------------------------------- (Title of class of securities) 552541104 ---------------------------------------- (CUSIP number) Barry F. Schwartz 35 East 62nd Street New York, New York 10021 (212) 572-8600 ----------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) December 21, 2001 ------------------- (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 |_|. Page 1 of 9 Pages Exhibit Index on Page 9 CUSIP No. 552541104 13D Page 2 of 9 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Mafco Holdings Inc. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 0 OWNED BY --------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 8,473,800 WITH --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 8,473,800 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,473,800 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_| CERTAIN SHARES - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 43.2% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- CUSIP No. 552541104 13D Page 3 of 9 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Mafco Consolidated Holdings Inc. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 0 OWNED BY --------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 6,648,800 WITH --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,648,800 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,648,800 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_| CERTAIN SHARES - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.9% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- CUSIP No. 552541104 13D Page 4 of 9 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Mafco Consolidated Group Inc. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 0 OWNED BY --------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 6,648,800 WITH --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,648,800 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,648,800 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_| CERTAIN SHARES - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.9% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- CUSIP No. 552541104 13D Page 5 of 9 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS PX Holding Corporation - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 0 OWNED BY --------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 1,500,000 WITH --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,500,000 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_| CERTAIN SHARES - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- This statement amends and supplements the Statement on Schedule 13D dated June 26, 1995, as amended by Amendment No. 1 thereto dated July 31, 1995, Amendment No. 2 thereto dated February 8, 1996, Amendment No. 3 thereto dated July 8, 1996, Amendment No. 4 thereto dated October 25, 1996, Amendment No. 5 thereto dated November 27, 1996, Amendment No. 6 thereto dated August 1, 1997, Amendment No. 7 thereto dated June 9, 1998, Amendment No. 8 thereto dated December 6, 1999, Amend ment No. 9 thereto dated August 15, 2000, Amendment No. 10 thereto dated November 9, 2000, Amendment No. 11 thereto dated April 20, 2001 Amendment No. 12 thereto dated April 24, 2001, Amendment No. 13 thereto dated October 12, 2001, and Amendment No. 14 thereto dated November 16, 2001, (the "Schedule 13D"), filed with the Securities and Exchange Commission by Mafco Holdings Inc., a Delaware corporation ("Mafco Holdings"), Mafco Consolidated Group, Inc., a Delaware Corporation, Mafco Consolidated Holdings Inc. (formerly C&F (Parent) Holdings Inc.), a Delaware corporation, and PX Holding Corporation, a Delaware corporation("PX Holding"), in connection with their ownership of shares of common stock, par value $.01 per share ("Common Stock") of M & F Worldwide Corp. (formerly Power Control Technologies Inc.), a Delaware corporation (the "Company"). Unless otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Schedule 13D. Item 3. Source and Amount of Funds or Other consideration. Item 3 is hereby amended by adding the following at the end thereof: The funds required for the purchase of the Preferred Stock purchased on December 21, 2001 referred to in Item 4, below, were obtained by PX Holding from cash on hand of its affiliates. Item 4. Purpose of Transaction. Item 4 is hereby amended by adding the following at the end thereof: On December 21, 2001, pursuant to the Mafco Letter Agreement and a letter agreement dated as of December 21, 2001 between Mafco Holdings and the Company (the "December 21 Letter Agreement"), PX Holding provided to the Company $10,000,000 in exchange for 666,667 newly-issued shares of Preferred Stock. The Company and PX Holding entered into a letter agreement (the "Registration Rights Agreement Amendment Letter"), dated as of December 21, 2001, pursuant to which the Company and PX Holding agreed to amend the Registration Rights Agreement to, among other things, include within the definition of "Registrable Securities" the shares of Preferred Stock referred to in the preceding paragraph. A copy of the December 21 Letter Agreement is attached hereto as Exhibit 17 and a copy of the Registration Rights Agreement Amendment Letter is attached hereto as Exhibit 18. The description of the December 21 Letter Agreement and the Registration Rights Agreement Amendment Letter are qualified in their entirety by reference to the December 21 Letter Agreement and the Registration Rights Agreement Amendment Letter. Item 5. Interest in Securities of the Issuer. Item 5 is hereby amended by adding the following: Pursuant to the December 21 Letter Agreement, PX Holding received 666,667 shares of Preferred Stock. As a result, PX Holding beneficially owns 8,348,820 shares of voting stock, representing approximately 31.5% of the total voting stock of the Company. By virtue of its ownership of 100% of the common stock of Mafco Consolidated Holdings and 100% of the common stock of PX Holding, Mafco Holdings may be deemed to share beneficial ownership of 15,322,620 shares of voting stock, representing approximately 57.9% of the total voting stock of the Company. Item 7. Material to be Filed as Exhibits. Item 7 is hereby amended to add the following at the end thereof: Exhibit 18 December 21 Letter Agreement, dated as of December 21, 2001, between Mafco Holdings Inc. and M & F Worldwide Corp. Exhibit 19 Registration Rights Agreement Amendment Letter, dated as of December 21, 2001, between PX Holding Corporation and M & F Worldwide Corp. SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information in this statement is true, complete and correct. Dated: December 28, 2001 MAFCO HOLDINGS INC. MAFCO CONSOLIDATED HOLDINGS INC. MAFCO CONSOLIDATED GROUP INC. PX HOLDING CORPORATION By: /s/ Glenn P. Dickes ------------------------------------ Glenn P. Dickes Secretary EXHIBIT INDEX Exhibit 18 December 21 Letter Agreement, dated as of December 21, 2001, between Mafco Holdings Inc. and M & F Worldwide Corp. 19 Registration Rights Agreement Amendment Letter, dated as of December 21, 2001, between PX Holding Corporation and M & F Worldwide Corp. EX-99 3 s577636.txt EXHIBIT 18 Mafco Holdings Inc. 35 East 62nd Street New York, New York 10021 December 21, 2001 M & F Worldwide Corp. 35 East 62nd Street New York, New York 10021 Gentlemen: Pursuant to the letter agreement, dated April 19, 2001 (the "Mafco Letter Agreement"), between Mafco and M & F Worldwide, Mafco or a wholly owned subsidiary of Mafco will provide to M & F Worldwide the Mafco Disbursement in exchange for 666,667 newly-issued shares of Series B Non-Cumulative Perpetual Participating Preferred Stock, par value $.01 per share (the "Series B Preferred Stock"). M & F Worldwide represents and warrants that such Series B Preferred Stock has been duly authorized by all necessary corporate action on the part of the M & F Worldwide and, upon receipt by M & F Worldwide of the Mafco Disbursement, will be validly issued, fully paid and nonassessable, free and clear of all Encumbrances whatsoever, except for any Encumbrances arising under the Securities Act of 1933 or state securities laws. As used in this letter agreement, the term "Encumbrances" shall mean any and all liens, charges, security interests, options, claims, mortgages, pledges, or agreements, obligations, understandings or arrangements or other restrictions on title or transfer of any nature whatsoever. The issuance of such shares is not subject to preemptive or subscription rights of any stockholder of M & F Worldwide. Upon delivery of the Mafco Disbursement and such Series B Preferred Stock, Mafco and M & F Worldwide shall execute and deliver a cross receipt in the form attached hereto as Exhibit A. Capitalized terms used but not defined herein shall have the meanings given to them in the Mafco Letter Agreement. If you are in agreement with the foregoing, please so indicate by signing the enclosed duplicate copy of this letter. Very truly yours, MAFCO HOLDINGS INC. By: /s/ Todd J. Slotkin ------------------------------ Name: Todd J. Slotkin Title: Executive Vice President and Chief Financial Officer ACKNOWLEDGED AND ACCEPTED BY: M & F WORLDWIDE CORP. By: /s/ Howard Gittis -------------------------------- Name: Howard Gittis Title: Chairman of the Board of Directors, President and Chief Executive Officer EXHIBIT A CROSS RECEIPT M & F Worldwide hereby acknowledges delivery of the Mafco Disbursement in satisfaction of Mafco's obligations under the Mafco Letter Agreement. M & F WORLDWIDE CORP. By: /s/ Howard Gittis ---------------------------- Name: Howard Gittis Title: Chairman of the Board of Directors, President and Chief Executive Officer Mafco hereby acknowledges delivery of 666,667 shares of Series B Non-Cumulative Perpetual Participating Preferred Stock in satisfaction of M & F Worldwide's obligations under the Mafco Letter Agreement. MAFCO HOLDINGS INC. By: /s/ Todd J. Slotkin -------------------------- Name: Todd J. Slotkin Title: Executive Vice President and Chief Financial Officer EX-99 4 s372125.txt EXHIBIT 19 M & F Worldwide Corp. 35 East 62nd Street New York, New York 10021 December 21, 2001 PX Holding Corporation 35 East 62nd Street New York, New York 10021 Gentlemen: M & F Worldwide Corp., a Delaware corporation ("M & F Worldwide"), is delivering this letter to PX Holding Corporation, a Delaware corporation ("PX Holding") and a wholly owned subsidiary of Mafco Holdings Inc., a Delaware corporation ("Mafco"), in connection with the execution of a letter agreement, dated as of the date hereof (the "Letter Agreement"), by and between M & F Worldwide and Mafco. Pursuant to the Letter Agreement, PX Holding is acquiring from M & F Worldwide 666,667 newly-issued shares of Series B Non-Cumulative Perpetual Participating Preferred Stock, par value $.01 per share (the "Series B Preferred Stock"). M & F Worldwide and PX Holding, intending to be legally bound, hereby agree that the definition of "Registrable Securities" under the registration rights agreement, dated as of April 19, 2001 (the "Registration Rights Agreement"), by and between PX Holding and M & F Worldwide, is hereby amended and restated as follows: "Registrable Securities" means (a) any shares of Common Stock issued in accordance with Section 1.1 of the Purchase Agreement, (b) any shares of Preferred Stock issued in accordance with Section 1.1 of the Purchase Agreement, (c) any additional shares of Common Stock, Preferred Stock or other capital stock of the Company which shall be issued to PX Holding, (d) any shares of Common Stock, Preferred Stock or other capital stock of the Company acquired by PX Holding on the open market at a time when such party is deemed to be an "affiliate" (as such term is defined under Rule 144 under the Securities Act) of the Company, and (e) any securities issued or issuable in respect of the Common Stock, Preferred Stock or other capital stock of the Company referred to in clauses (a), (b), (c) and (d) above by way of conversion, exercise or exchange or any stock dividend or stock split or in connection with a combination of shares, recapitalization, reclassification, merger or consolidation, and any other securities issued pursuant to any other pro rata distribution with respect to such Common Stock, Preferred Stock or other capital stock of the Company. For purposes of this Agreement, a Registrable Security ceases to be a Registrable Security when (x) it has been effectively registered under the Securities Act and sold or distributed to the public in accordance with an effective registration statement covering it (and has not been reacquired in the manner described in clause (d) above), or (y) it is sold or distributed to the public pursuant to Rule 144 (or any successor or similar provision) under the Securities Act. M & F Worldwide's and PX Holding's agreements and undertakings hereunder are for the sole benefit of PX Holding and shall not create third party beneficiary rights on behalf of any other person or entity. If you are in agreement with the foregoing, please so indicate by signing the enclosed duplicate copy of this letter. Very truly yours, M & F WORLDWIDE CORP. By: /s/ Howard Gittis ------------------------------ Name: Howard Gittis Title: Chairman of the Board of Directors, President and Chief Executive Officer ACCEPTED AND AGREED TO: PX HOLDING CORPORATION By: /s/ Todd J. Slotkin ------------------------------ Name: Todd J. Slotkin Title: Executive Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----