-----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, PE+zYKuCGsNGrDiXqc1rj2Anw/C5QbM2OamfFElxbDhW9vxPnQ4YPCX//iwvNoHM I9I0CNCKO3xVaKOyQO6amg== 0001019056-05-000898.txt : 20050815 0001019056-05-000898.hdr.sgml : 20050815 20050815140322 ACCESSION NUMBER: 0001019056-05-000898 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050815 FILED AS OF DATE: 20050815 DATE AS OF CHANGE: 20050815 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: POLYMER GROUP INC CENTRAL INDEX KEY: 0000927417 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221] IRS NUMBER: 571003983 STATE OF INCORPORATION: DE FISCAL YEAR END: 0103 BUSINESS ADDRESS: STREET 1: 4055 FABER PLACE DR., SUITE 201 CITY: NORTH CHARLESTON STATE: SC ZIP: 29405 BUSINESS PHONE: 843-329-5151 MAIL ADDRESS: STREET 1: 4055 FABER PLACE DR., SUITE 201 CITY: NORTH CHARLESTON STATE: SC ZIP: 29405 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Chan Lap Wai CENTRAL INDEX KEY: 0001290839 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-14330 FILM NUMBER: 051025264 BUSINESS ADDRESS: BUSINESS PHONE: 212-651-9518 MAIL ADDRESS: STREET 1: MATLINPATTERSON GLOBAL ADVISERS LLC STREET 2: 520 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 4 1 edgar.xml PRIMARY DOCUMENT X0202 4 2005-08-15 0000927417 POLYMER GROUP INC POLGA.OB 0001290839 Chan Lap Wai C/O MATLINPATTERSON GLOBAL ADVISERS LLC 520 MADISON AVENUE NEW YORK NY 10022 1 0 0 0 16% Series A Convertible PIK Preferred Stock 7.29 2005-08-15 4 J 0 3789 0 A 2005-08-15 Class A Common Stock 519635 51142 I See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 /s/ LAP WAI CHAN 2005-08-15 EX-99 2 ex99_1.txt EXHIBIT 99.1 Exhibit 99.1 Reporting Person: Lap Wai Chan Issuer Name and Ticker Symbol: Polymer Group, Inc. (POLGA.OB) Date of Event Requiring Statement: 08/15/05 Footnotes (1) The holders of 16% Series A Convertible Pay-In-Kind Preferred Stock of the Issuer (the "Preferred Stock") are entitled at any time before the close of business on June 30, 2012, unless previously redeemeed at the option of the Issuer, to convert any or all of the Preferred Stock into shares of the Issuer's Class A Common Stock, par value $0.01 per share (the "Class A Common Stock") at a conversion rate of 137.14286 shares of Class A Common Stock per $1,000 liquidation amount of a share of Preferred Stock, subject to adjustment in certain events described in Certificate of Designations governing the Preferred Stock. (2) The 3,789 shares of Preferred Stock which are exercisable for 519,635 shares of Class A Common Stock were acquired as payment in kind interest on the 47,353 shares of Preffered Stock beneficially owned by the Reporting Persons, the ownership of which was previously reported. (3) MatlinPatterson Global Opportunities Partners L.P. ("Matlin Partners (Delaware)") is the direct beneficial owner of 37,927 shares of Preferred Stock and MatlinPatterson Global Opportunities Partners (Bermuda) L.P. ("Matlin Partners (Bermuda)" and together with Matlin Partners (Delaware), "Matlin") is the direct beneficial owner of 13,216 shares of Preferred Stock. The reporting person is an employee of MatlinPatterson Global Advisers LLC, the investment adviser of Matlin. Although the reporting person does not have voting or investment control of the shares held by Matlin, the reporting person has an indirect pecuniary interest in such shares because he holds an interest in a special limited partner of Matlin, the limited partnership through which he has an indirect investment interest and carried interest in Matlins' investments, including their investments in the Company. The exact pecuniary interest therein is not readily determinable because it is subject to several variables, including without limitation, the internal rates of return of Matlin overall and with respect to their investments in the Company. The reporting person disclaims beneficial ownership of any reported securities except to the extent of his pecuniary interest therein. -----END PRIVACY-ENHANCED MESSAGE-----