SC 13D/A 1 nordion_13d32-foodtechnology.htm NORDION'S OWNERSHIP IN FTSI MDS Nordion Schedule 13A

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

SCHEDULE 13D

Under Securities Exchange Act of 1934

(Amendment No. 32)

Food Technology Service, Inc.
(formerly Vindicator, Inc.)
-------------------------------------------------------------------------------------------------
(Name of Issuer)

Common Shares, $0.01 Par Value
--------------------------------------------------------------------------------------------------
(Title of Class of Securities)

927341107
--------------------------------------------------------------------------------------------------
(CUSIP Number)

David L. Nicholds, Esq.
MDS Nordion, a division of MDS (Canada) Inc.
(a successor of MDS Nordion Inc.) ("MDS Nordion")
447 March Road
Ottawa, Ontario, Canada K2K 1X8
--------------------------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

January 21, 2004

--------------------------------------------------------------------------------------------------
 (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13D 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. [ ]

Check the following box if a fee is being paid with the statement [ ]. (A fee is not required only if the reporting person: (1) has a pervious statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.)

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 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 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 purposes of Section 13 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).

SCHEDULE 13D

CUSIP NO. 927341107

 

PAGE 1 OF 5 PAGES

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON.

MDS Nordion

___________________________________________________________________________________

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*.                            (a) [ ]
                                                                                                                                                              (b) [ ]
____________________________________________________________________________________

3

SEC USE ONLY
____________________________________________________________________________________

4

SOURCE OF FUNDS*

WC & Affiliate
____________________________________________________________________________________

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e).                                                                      [  ]

____________________________________________________________________________________

6

CITIZENSHIP OR PLACE OF ORGANIZATION.

Ontario, Canada
____________________________________________________________________________________

Number of Shares Beneficially Owned by each Reporting Person with

7

Sole Voting Power:

____________________________________________________________________________

8

Shared Voting Power:

4,813,214
____________________________________________________________________________

9

Sole Dispositive Power:

____________________________________________________________________________

10

Shared Dispositive Power:

4,813,214

____________________________________________________________________________

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.

4,813,214
____________________________________________________________________________________

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN

SHARES*                                                                                                                                                     [ ]

____________________________________________________________________________________

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

41.14%
____________________________________________________________________________________

14

TYPE OF REPORTING PERSON*

CO
____________________________________________________________________________________

*SEE INSTRUCTIONS BEFORE FILLING OUT!

SCHEDULE 13D

CUSIP NO. 927341107

 

PAGE 2 OF 5 PAGES

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON.

Laboratoires MDS Quebec Ltée

______________________________________________________________________________________________________

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*.                            (a) [ ]

                                                                                                                                                              (b) [ ]
____________________________________________________________________________________

3

SEC USE ONLY
____________________________________________________________________________________

4

SOURCE OF FUNDS*

Affiliate
____________________________________________________________________________________

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e).                                                                      [  ]

____________________________________________________________________________________

6

CITIZENSHIP OR PLACE OF ORGANIZATION.

Quebec, Canada
____________________________________________________________________________________

Number of Shares Beneficially Owned by each Reporting Person with

7

Sole Voting Power:

____________________________________________________________________________

8

Shared Voting Power:

4,813,214
____________________________________________________________________________

9

Sole Dispositive Power:

____________________________________________________________________________

10

Shared Dispositive Power:

4,813,214
____________________________________________________________________________

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.

4,813,214
____________________________________________________________________________________

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]


____________________________________________________________________________________

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

41.14%

____________________________________________________________________________________

14

TYPE OF REPORTING PERSON*

CO
____________________________________________________________________________________

*SEE INSTRUCTIONS BEFORE FILLING OUT!

SCHEDULE 13D

CUSIP NO. 927341107

 

PAGE 3 OF 5 PAGES

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON.

MDS INC.
____________________________________________________________________________________

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*.                            (a) [ ]

                                                                                                                                                              (b) [ ]
____________________________________________________________________________________

3

SEC USE ONLY

4

SOURCE OF FUNDS*

WC & Affiliate
____________________________________________________________________________________

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e).                                                                      [  ]

____________________________________________________________________________________

6

CITIZENSHIP OR PLACE OF ORGANIZATION.

Ontario, Canada
____________________________________________________________________________________

Number of Shares Beneficially Owned by each Reporting Person with

7

Sole Voting Power:

____________________________________________________________________________

8

Shared Voting Power:

4,813,214
____________________________________________________________________________

9

Sole Dispositive Power:

____________________________________________________________________________

10

Shared Dispositive Power:

4,813,214
____________________________________________________________________________

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.

4,813,214
____________________________________________________________________________________

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]

____________________________________________________________________________________

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

41.14%
___________________________________________________________________________________

14

TYPE OF REPORTING PERSON*

CO
____________________________________________________________________________________

*SEE INSTRUCTIONS BEFORE FILLING OUT!

Item 1.

Security and Issuer

Shares of Common Stock, $0.01 par value

Food Technology Service, Inc.
502 Prairie Mine Road
Mulberry, Florida 33860 USA
________________________________________________________________________________________________

Item 2.

Identity and Background

N/A
________________________________________________________________________________________

Item 3.

Source and Amount of Funds or Other Consideration.

N/A
________________________________________________________________________________________

Item 4.

Purpose of Transaction

Item 4 is hereby amended.

As confirmed by letter Agreement dated May 18, 2000 (previously filed) Food Technology Service, Inc.'s ("FTSI") indebtedness to MDS Nordion ("Nordion") as at February 4, 2000 is in the amount of $963,194 (the "Debt"). Additionally, such Letter Agreement provides that the right of conversion of interest on the Debt accruing from February 5, 2000 to January 1, 2001, into shares of FTSI, has been waived by Nordion. By Letter Agreements dated November 20, 2000 and November 26, 2001, Nordion has extended its waiver of the right of conversion of interest accruing on the Debt from January 1, 2001 to January 1, 2003. On December 17, 2002, MDS Nordion exercised its option to convert $300,000US of the Debt into common shares of FTSI, (leaving a remaining balance of convertible debt of $663,194US, ("Outstanding Indebtedness")). The amount of $300,000US is convertible into shares of FTSI at the conversion rate of 70% of the closing price, on the last trade date, prior to the date of exercise of the conversion right. By notice dated December 17, 2002 Nordion has extended its waiver of the right of conversion of interest accruing on Outstanding Indebtedness accruing from January 1, 2003 to January 1, 2004. By notice dated December 5, 2003 Nordion has extended its waiver of the right of conversion of interest accruing on Outstanding Indebtedness accruing from January 1, 2004 to January 1, 2005. Since the 13D Amendment 31, filed with the SEC in January, 2004, (which calculated the amount of beneficially owned shares based on the closing share price on January 8, 2004 i.e., 70% of $1.15 or $0.8050) the closing share price of FTSI on January 21, 2004 increased to $1.36. Seventy percent (70%) thereof corresponds to a conversion price of $0.9520.

At the close of business on January 21, 2004, Nordion beneficially owned 4,813,214 shares of stock, which constitutes approximately 41.14 % of the outstanding shares of FTSI. The number of shares beneficially owned as of January 21, 2004 has been computed by aggregating (i) the number of shares that Nordion actually owns (including 504,201 shares issued upon exercise of conversion of the $300,000US of the Debt on December 17, 2002); and (ii) the number of shares into which Nordion could elect to convert the Outstanding Indebtedness on the basis of the closing price of January 21, 2004 (i.e., 70% of $1.36) or 696,632 shares. Pursuant to publicly available information 11,001,032 shares of Food Technology Service, Inc. were issued and outstanding on January 21, 2004.
________________________________________________________________________________________

Item 5.

Interest in Securities of the Issuer

See Item 4
________________________________________________________________________________________

Item 6.

Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer.

By Letter Agreement dated December 5, 2003, MDS Nordion extended its waiver of right of conversation of interest accruing on outstanding FTSI indebtedness to January 1, 2005.

________________________________________________________________________________________

Item 7.

Materials to be filed as Exhibits

N/A
________________________________________________________________________________________


SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief the undersigned certify that the information set forth in this statement is true and correct.

Dated: January 22, 2004

MDS NORDION, a division of MDS (Canada) Inc.

By: /s/ David Nicholds
Name:  David Nicholds
Title: Vice President, General Counsel
             & Corporate Secretary


MDS INC.


By: /s/ Peter E. Brent
Name: Peter E. Brent
Title: Senior Vice President & General Counsel
              & Corporate Secretary


LABORATOIRES MDS QUEBEC LTEE.


By: /s/ Peter E. Brent
Name: Peter E. Brent
Title: Vice President & Corporate Secretary