-----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, PWTe+e0N0AoZ4dkIw2sagKsPVVI0OfJliANCnijlIRAhEyX2Y08vbNdNluramguD r79uE4J0Nno7pDq/nWzDVA== 0001019056-05-000981.txt : 20050913 0001019056-05-000981.hdr.sgml : 20050913 20050913172910 ACCESSION NUMBER: 0001019056-05-000981 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050909 FILED AS OF DATE: 20050913 DATE AS OF CHANGE: 20050913 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: 051082996 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 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 4 1 edgar.xml PRIMARY DOCUMENT X0202 4 2005-09-09 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 Class A Common Stock 2005-09-09 4 C 0 7014034 0 A 13596921 I See Footnote 16% Series A Convertible PIK Preferred Stock 2005-09-09 4 C 0 51144 D 2005-09-09 Class A Common Stock 7014034 0 I See Footnotes See Exhibit 99.1 See Exhibit 99.1 LAP WAI CHAN 2005-09-13 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: 09/09/05 Footnotes (1) The Reporting Person converted 51,144 shares of 16% Series A Convertible Pay-In-Kind Preferred Stock of the Issuer (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. The transaction resulted in the acquisition by the Reporting Person of an additional 7,014,034 shares of Class A Common Stock. (2) Each of MatlinPatterson Global Opportunities Partners L.P. ("Matlin Partners (Delaware)"), MatlinPatterson Global Opportunities Partners (Bermuda) L.P. ("Matlin Partners (Bermuda)") and MatlinPatterson Global Opportunities Partners B L.P. (the "Opt-Out Fund", and together with Matlin Partners (Delaware) and Matlin Partners (Bermuda), "Matlin") is the direct beneficial owner of 9,968,811, 3,473,703 and 154,407 shares of Class A Common Stock, respectively. The Reporting Person is an employee of MatlinPatterson Global Advisers LLC ("Matlin Advisers"), the investment advisor to each of Matlin Partners (Delaware), Matlin Partners (Bermuda) and the Opt-Out Fund. 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 Issuer. 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 Issuer. The Reporting Person disclaims beneficial ownership of any reported securities except to the extent of his pecuniary interest therein. -----END PRIVACY-ENHANCED MESSAGE-----