SC 13D 1 sc13d.txt SC 13D ------------------------- UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION ------------------------- WASHINGTON, D.C. 20549 OMB Number: 3235-0145 ------------------------- SCHEDULE 13D Expires: October 31, 2002 ------------------------- UNDER THE SECURITIES EXCHANGE ACT OF 1934 Estimated average burden (AMENDMENT NO.______)* ------------------------- hours per response.. 14.9 ------------------------- PRIME RETAIL INC. --------------------------------------------------------------------- (Name of Issuer) Prime Retail 8.5% Series B Cumulative Participating Convertible Preferred $.01 Par Value --------------------------------------------------------------------- (Title of Class of Securities) CUSIP 741570-30-3 --------------------------------------------------------------------- (CUSIP Number) HOWARD AMSTER 23811 CHAGRIN BLVD #200 BEACHWOOD OH 44122-5525 (216) 595-1047 --------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) 6-12-00 --------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-l(e), 240.13d-l(f) or 240.13d-l(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 Section 240.13d-7 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 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). CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons HOWARD AMSTER ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* PF ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 389330 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 72450 -------------------------------------------------- (9) Sole Dispositive Power 389330 -------------------------------------------------- (10) Shared Dispositive Power 72450 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 485780 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 6.2% ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons AMSTER LTD PARTNERSHIP ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 2750 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 2750 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2750 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) .0351% ------------------------------------------------------------------------------- (14) Type of Reporting Person* PN ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons AMSTER TRADING CO ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* WC ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 69700 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 69700 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 69700 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.8904% ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons TAMRA F GOULD ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* PF ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 19760 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 19760 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 19760 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.2524% ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons GOULD TRADING CO ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* WC ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 19760 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 19760 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 19760 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.2524% ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons PLEASANT LAKE APTS CORP ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* WO ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 170 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 170 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 170 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.002% ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 741570-30-3 13D Page of Pages ----------- --- --- ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons RAMAT SECURITIES LTD ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* WC ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 24000 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 24000 ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 24000 ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.307% ------------------------------------------------------------------------------- (14) Type of Reporting Person* BD ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Schedule 13D Item 1. Security and Issuer Prime Retail 8.5% Series B Cumulative Participating Convertible Preferred $.01 Par Value, CUSIP 741570-30-3 Prime Retail, Inc. 100 East Pratt Street, 19th Floor Baltimore, Maryland 21202 (410) 234-0782 Item 2. Identity and Background Howard Amster and Tamra F. Gould are husband and wife. Each has independent assets and each disclaims any beneficial ownership in the other's assets. Howard Amster is a 99% owner of Amster Trading Company and as such can be deemed the beneficial owner of such entity and may be deemed to have shared voting and dispositive power over shares owned by Amster Trading Company. Howard Amster is a 100% owner of Pleasant Lake Apts Corp and as such can be deemed the beneficial owner of such entity and may be deemed to have shared voting and dispositive power over shares owned by Pleasant Lake Apts Corp. Howard Amster is a general partner of Amster Limited Partnership and as such can be deemed the beneficial owner of such entity and may be deemed to have a shared voting and dispositive power over shares owned by Amster Limited Partnership. Howard Amster is an 83% owner of Ramat Securities Ltd. Howard Amster can be deemed to be a beneficial owner of any securities owned by Ramat Securities Ltd. Tamra F. Gould is a 100% owner of Gould Trading Company and as such can be deemed the beneficial owner of such entity and may be deemed to have shared voting and dispositive power over shares owned by Gould Trading Company. a) Howard Amster b) 25812 Fairmount Blvd, Beachwood, Ohio 44122-2214 c) Present principal occupation-Principal, Ramat Securities Ltd, securities firm- 23811 Chagrin Blvd # 200, Beachwood, Ohio 44122 d) Howard Amster has not been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Howard Amster has not been party to any civil proceedings of a judicial or administrative body of competent jurisdiction of the type described in Item 2 of Schedule 13D within the last five years. f) USA a) Tamra F. Gould b) 25812 Faimount Blvd, Beachwood, Ohio 44122-2214 c) Present principal occupation-Securities Trader, Tamar Securities a broker dealer-23811 Chagrin Blvd #200, Beachwood, Ohio 44122-5525 d) Tamra F Gould has not been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any within the last five years. e) Tamra F. Gould has not been a party to any civil proceedings of a judicial or administrative body of competent jurisdiction of the type described in Item 2 of schedule 13D within the last five years. f) USA Amster Limited Partnership, 25812 Fairmount Blvd, Beachwood, Ohio 44122 Investments d) Neither the partners of Amster Limited Partnership have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors if any) within the last five years. e) Neither the partners of Amster Limited Partnership have been a party to any civil proceedings of a judicial or administrative body or competent jurisdictions of the type described in Item 2 Schedule 13D within the last five years. Amster Trading Company, 25812 Fairmount Blvd, Beachwood, Ohio 44122 Investments d) Neither the officers, directors, or shareholders of Amster Trading Company have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the officers, directors, or shareholders of Amster Trading Company have been a party to any civil proceedings of a judicial or administrative body of competent jurisdictions of the type described in Item 2 of Schedule 13D within the last five years. Gould Trading Company, 25812 Fairmount Blvd, Beachwood, Ohio 44122 Investments d) Neither the officers, directors or shareholders of Gould Trading Company have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the officers, directors, or shareholders of Gould Trading Company have been a party to any civil proceedings of a judicial or administrative body of competent jurisdictions of the type described in Item 2 of Schedule 13D within the last five years. Pleasant Lake Apts Corp Investments d) Neither the officers, directors or shareholders of Pleasant Lake Apts Corp have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the officers, directors, or shareholders of Pleasant Lake Apts Corp have been a party to any civil proceedings of a judicial or administrative body of competent jurisdictions of the type described in Item 2 of Schedule 13D within the last five years. Ramat Securities Ltd Investments d) Neither the members or unitholders of Ramat Securities Ltd have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the members or unitholders of Ramat Securities Ltd have been a party to any civil proceedings of a judicial or administrative body or competent jurisdictions of the type described in Item 2 of Schedule 13D within the last five years. Item 3. Source and Amount of Funds or Other Consideration Howard Amster, in his personal and individual retirement accounts purchased all the Prime Retail Pr B shares with personal funds without borrowing. The total consideration of the purchases is $ 3,435,372.61. Amster Limited Partnership purchased all the Prime Retail Pr B shares with partnership funds without borrowing. The total consideration of the purchases is $ 55,173.34. Amster Trading Company purchased all the Prime Retail Pr B shares with working capital without borrowing. The total consideration of the purchases is $ 411,931.40. Gould Trading Company purchased all the Prime Retail Pr B shares with working capital without borrowing. The total consideration of the purchases is $ 246,587.22. Pleasant Lake Apts. Corp purchased all the Prime Retail Pr B shares with working capital without borrowing. The total consideration of the purchases is $ 3494.76. Ramat Securities Ltd purchased all the Prime Retail Pr B shares with working capital without borrowing. The total consideration of the purchases is $ 220,248.80. Item 4. Purpose of Transaction Howard Amster, Amster Limited Partnership, Amster Trading Company, Gould Trading Company, Pleasant Lake Apts Corp and Ramat Securities Ltd acquired their shares for purposes of investment. They may be deemed to be a group. There are no present plans or proposals by any of the purchasers of record or the beneficial owners as reported in this Schedule 13D which relate to or would result in the following: a. The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer provided, however, the reporting person might acquire additional shares or other securities of the issuer or dispose of some or all of their shares depending upon market conditions and their personal circumstances; b. An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; c. A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; d. Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number of terms of directors or to fill any existing vacancies on the board; e. Any material change in the present capitalization or dividend policy of the issuer; f. Any other material in the issuer's business or corporate structure; g. Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; h. Causing a class of securities of the issuer to be delisted from a national securities exchange or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; i. A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or j. Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer (a)(b) The aggregate amount owned by the Reporting Persons is 505,540 shares or 6.458 % of the outstanding shares. Howard Amster in his own name and individual retirement accounts owns 389,160 shares or 4.9711 % of the outstanding shares. Amster Limited Partnership owns 2,750 shares or 0.0351 % of the outstanding shares. Amster Trading Company owns 69,700 or 0.8904 % of the outstanding shares. Gould Trading Company owns 19,760 shares or 0.2524 % of the outstanding shares. Pleasant Lakes Apts Corp owns 170 shares or 0.002 % of the outstanding shares. Ramat Securities Ltd owns 24,000 or 0.307 % of the outstanding shares. c) The following table reflects....
DATE SHARES PRICE WHERE ACQUIRED EXECUTED BY -------------------------------------------------------------------------------------- Howard Amster and his individual retirement accounts 11/17/97 2,080 20.492 Spinoff from Horizon Group Everen Sec 12/12/97 1,420 19.474 Spinoff from Horizon Group Everen Sec 12/15/97 220 18.88 Spinoff from Horizon Group Everen Sec 12/16/97 640 19.152 Spinoff from Horizon Group Everen Sec 12/17/97 3,000 19.184 Spinoff from Horizon Group Everen Sec 12/18/97 1,680 19.987 Spinoff from Horizon Group Everen Sec 12/19/97 1,600 18.87 Spinoff from Horizon Group Everen Sec 12/30/97 11,220 18.25 Spinoff from Horizon Group Everen Sec 12/31/97 2,600 17.95 Spinoff from Horizon Group Everen Sec 05/29/98 1,000 18.763 Spinoff from Horizon Group Everen Sec 12/16/99 2,000 11.9875 NYSE First Union 01/14/00 7,300 10.4161 NYSE First Union 01/18/00 215,000 8.4653 NYSE Bear Stearns 01/19/00 27,000 8.4714 NYSE First Union 01/19/00 6,400 8.418 NYSE Bear Stearns 01/19/00 20,000 8.4714 NYSE First Union 01/26/00 13,300 9.7942 NYSE First Union 01/27/00 8,600 9.8125 NYSE First Union 01/28/00 3,000 9.5625 NYSE First Union 01/31/00 2,900 9.375 NYSE First Union 02/01/00 1,200 9.4688 NYSE First Union 02/02/00 9,000 8.8056 NYSE First Union 06/12/00 20,400 4.687 NYSE Bear Stearns 06/13/00 27,600 4.5862 NYSE Bear Stearns Amster Limited Partnership 01/05/98 160 19.14 Spinoff from Horizon Group Everen Sec 01/06/98 640 18.98 Spinoff from Horizon Group Everen Sec 04/22/98 1,950 20.49 Spinoff from Horizon Group Everen Sec Amster Trading Company 01/19/00 23,000 8.4714 NYSE First Union 06/12/00 9,800 4.687 NYSE Bear Stearns 06/13/00 36,900 4.5862 NYSE Bear Stearns Gould Trading Company 11/13/97 4,760 20.372 Spinoff from Horizon Group Everen Sec 11/14/97 5,000 20.477 Spinoff from Horizon Group Everen Sec 06/12/00 10,000 4.687 NYSE Bear Stearns Pleasant Lake Apts Corp 04/22/98 170 20.56 Spinoff from Horizon Group Everen Sec Ramat Securities Ltd 09/01/98 3,000 16.838 NYSE Everen Sec 12/15/99 11,000 11.169 NYSE First Union 06/12/00 10,000 4.687 NYSE Bear Stearns
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. There are no contracts, arrangements, understandings or relationships with respect to securities of the issuer with any prsons except as set forth in items 2, 3, 5 above. Item 7. Material to be filed as exhibits. Agreement between Howard Amster and Tamra F. Gould concerning this Schedule 13D. Signature After reasonable inquiry and to the best of my knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Date 6/16/00 /s/ /s/ /s/ Howard Amster Amster Limited Partnership Amster Trading Company /s/ /s/ /s/ Gould Trading Company Pleasant Lake Apts Corp Ramat Securities Ltd /s/ Tamra F. Gould -------------------------------------------------------------------------------- AGREEMENT Howard Amster and Tamra F. Gould hereby agree that the Schedule 13D to which this Agreement is attached as an exhibit is filed on behalf of each of them. Date 6/16/00 /s/ /s/ Howard Amster Tamra F. Gould