Items 1 to 7 of Schedule 13D, dated August 25, 1999, as amended by Amendment No. 1 to Schedule 13D dated August 21, 2000, by Amendment No. 2 to Schedule 13D, dated June 24, 2001, by Amendment No. 3 to Schedule 13D, dated October 8, 2003, by Amendment No. 4 to Schedule 13D, dated August 3, 2004, by Amendment No. 5 to Schedule 13D, dated June 5, 2009, by Amendment No. 6 to Schedule 13D, dated June 16, 2010, by Amendment No. 7 to Schedule 13D, dated December 16, 2010, and by Amendment No. 8 to Schedule 13D, dated February 23, 2011 and by Amendment No. 9 to Schedule 13D dated September 11, 2012.
Responses to each item of this Schedule 13D are incorporated by reference into the response to each other item, as applicable.
Item 1. Security and Issuer
Item 2. Identity and Background
Item 3. Source and Amount of Funds or Other Consideration
Item 4. Purpose of Transaction
Item 4 is hereby amended and supplemented as follows:
All of the shares of Common Stock reported herein were acquired for investment purposes. Subject to applicable securities laws and regulations, Mr. Peak may dispose or acquire securities of Contango, including Common Stock, depending upon the position of the market, the Issuer, and other factors.
Mr. Peak sold through UBS Financial Services Inc. (the “Broker”) 250,000 shares of Common Stock which Mr. Peak owned pursuant to the rules and limitations, including the volume limitations, under Rule 144 of the Securities Act of 1933. Mr. Peak sold shares of Common Stock through the Broker to generate liquidity for estate and tax planning purposes.
Mr. Peak does not currently have any plans or proposals which relate to or would result in any changes in the board of directors or management of Contango, or which relate to or would result in the actions specified in paragraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
Mr. Peak directly owns 1,750,000 shares of Common Stock and has the right to vote 284,296 additional shares. As the beneficial owner of 2,034,296 shares of Common Stock, Mr. Peak beneficially owns approximately 13.3% of the outstanding shares of Contango Common Stock. Mr. Peak has sole voting power with respect to 2,034,296 shares of Common Stock and sole dispositive power with respect to 1,750,000 shares of Common Stock. Dispositive power for 284,296 shares is held by the former wife of Mr. Peak.
There have been no reportable transactions with respect to the Common Stock of the Issuer within the last 60 days by Mr. Peak, except as described in this Amendment No. 10 to Schedule 13D.
With respect to the 1,750,000 shares of Common Stock directly owned by Mr. Peak, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock held by Mr. Peak.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
As of May 21, 2009, Mr. Peak entered into a Credit Line Agreement with UBS Bank USA (the “Credit Agreement”). Under the Credit Agreement, Mr. Peak may borrow from time to time up to $38 million with fixed or variable rate advances and has pledged certain shares of Common Stock of Contango and other publicly-traded stocks owned by Mr. Peak as collateral for borrowings under the revolving line of credit. Proceeds of the loan have and will be used (i) to pay certain taxes owed by Mr. Peak, and (ii) for general working capital of Mr. Peak.
Proceeds from the sale of 250,000 shares of Common Stock of Contango by Mr. Peak were used (i) to pay borrowings under the Credit Agreement, and (ii) for general working capital of Mr. Peak.
Item 7. Material to Be Filed as Exhibits