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SC Fundamental Inc – ‘SC 13D/A’ on 2/12/98 re: ApS Holding Corporation

As of:  Thursday, 2/12/98   ·   Accession #:  932799-98-24   ·   File #:  5-43961

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/12/98  SC Fundamental Inc                SC 13D/A               1:42K  ApS Holding Corporation           Heller Ehr… McAuliffe/FA

Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial          26     89K 
                          Ownership                                              


Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
10Item 2. Identity and Background
11Item 3. Source and Amount of Funds of Other Consideration
12Item 5. Interest in Securities of the Issuer
14Item 7. Materials to be Filed as Exhibits
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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1) APS HOLDING CORPORATION (Name of Issuer) Common Stock, Par Value, $0.01 Per Share (Title of Class of Securities) 001937101 (CUSIP Number) Stephen M. Davis, Esq. Werbel & Carnelutti A Professional Corporation 711 Fifth Avenue, New York, New York 10022, (212) 832-8300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 4, 1998 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13-d-1(b)(3) or (4), check the following box [ ]. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purposes 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). Page 1 of 22
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 2 of 22 Pages ------------------- ------------------ ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The SC Fundamental Value Fund, L.P. ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 273,775 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 273,775 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 273,775 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.0% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 3 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Inc. ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------ NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ------------------------------------------------------------------------------ 7 SOLE VOTING POWER 261,025 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 0 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 261,025 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 261,025 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.9% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 4 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC-BVI Partners ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------ NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ------------------------------------------------------------------------------ 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 261,025 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 261,025 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 261,025 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.9% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 5 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Value BVI, Ltd. ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands ------------------------------------------------------------------------------ NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ------------------------------------------------------------------------------ 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 261,025 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 261,025 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 261,025 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.9% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 6 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental Inc. ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] ------------------------------------------------------------------------------ 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 273,775 ---------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 273,775 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 273,775 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.0% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 7 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SC Fundamental, LLC ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [ ] ------------------------------------------------------------------------------ 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 273,775 ---------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 273,775 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 273,775 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.0% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 8 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gary N. Siegler ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 534,800 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 534,800 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 534,800 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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SCHEDULE 13D ------------------- ----------------- CUSIP No. 001937101 Page 9 of 22 Pages ------------------- ----------------- ============================================================================== 1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Peter M. Collery ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] ----------------------------------------------------------------------------- 3 SEC USE ONLY ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC/OO ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) [ ] ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------------------- 8 SHARED VOTING POWER 534,800 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 534,800 ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 534,800 ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ============================================================================== *SEE INSTRUCTIONS BELOW BEFORE FILLING OUT! SEC 1746 (9-88)
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Page 10 of 22 Pages AMENDMENT NO. 1 TO THE SCHEDULE 13D This statement constitutes Amendment No. 1 to the Schedule 13D relating to the Common Stock, par value $0.01 per share ("Common Stock"), of APS Holding Corporation (the "Issuer") filed by SC Fundamental Inc. ("SC"), The SC Fundamental Value Fund, L.P. ("Fund"), SC Fundamental Value BVI, Inc. ("BVI Inc."), Gary N. Siegler ("Siegler") and Peter M. Collery ("Collery"), and adds SC Fundamental, LLC ("SCFLLC"), SC Fundamental Value BVI, Ltd. ("BVI Fund") and SC-BVI Partners as members of a joint filing group with the foregoing persons (collectively, the "Reporting Persons"). Item 2. Identity and Background. SCFLLC is a New York limited liability company and, effective as of January 1, 1998, became the general partner of Fund. The principal business of SCFLLC is serving in such capacity and investing in securities. The business address of SCFLLC is 10 East 50th Street, New York, New York 10022. During the last five years, neither SCFLLC nor any of its members has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of each member of SCFLLC is set forth on Exhibit B attached hereto. BVI Fund is a British Virgin Islands Company. The principal business of BVI Fund is investing in securities. The business address of BVI Fund is c/o Citco Fund Services (Cayman Islands) Ltd., Corporate Center, West Bay Road, Grand Cayman, Cayman Islands. During the last five years, neither BVI Fund nor any of its directors or officers has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position, business address and citizenship of the directors and executive officers of BVI Fund are set forth on Exhibit B hereto.
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Page 11 of 22 Pages SC-BVI Partners is a Delaware general partnership. The principal business of SC-BVI Partners is serving as the investment manager of BVI Fund and investing in securities. The business address of SC-BVI Partners is 10 East 50th Street, New York, New York 10022. During the last five years, neither SC-BVI Partners nor any of its general partners has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of the general partners of SC-BVI Partners are set forth on Exhibit B hereto. Item 3. Source and Amount of Funds of Other Consideration As of January 1, 1998, SCFLLC became the substitute general partner of Fund in place of SC and, as a consequence, became a beneficial owner of the shares of Common Stock beneficially owned by SC without the payment of any consideration. SC, as a corporate member and manager of SCFLLC, continues as a beneficial owner of such shares. As described in Item 5 hereof, both SCFLLC and SC are affiliates of Siegler and Collery. The aggregate purchase prices of the shares of the Issuer's Common Stock ("Shares") purchased by the Reporting Persons since the filing of the Schedule 13D as reported in Item 5(c) of this Amendment No. 1 to Schedule 13D were as follows: Name of Reporting Person Aggregate Purchase Price ------------------------- ------------------------ Fund $ 536.20 BVI Inc. on behalf of BVI Ltd. $ 227,304.55 The Reporting Persons listed above purchased the Shares reported herein as beneficially owned by them with working capital of Fund and BVI Ltd. or with funds extended by brokerage firms in connection with margin transactions effected for Fund and BVI Ltd.
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Page 12 of 22 Pages Item 5. Interest in Securities of the Issuer (a) As of the close of business on February 4, 1998, the Reporting Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be deemed to own beneficially in the aggregate the number and percentage of the Issuer's Common Stock set forth opposite their names below (based upon the number of Shares that were reported to be outstanding in the Issuer's Form 10-Q as of September 30, 1997). [Download Table] ================================================================= Name Shares of Common Stock Percentage ----------------------------------------------------------------- SC Fundamental Inc. 273,755 2.0% ----------------------------------------------------------------- The SC Fundamental Value Fund, L.P. 273,755 2.0% ----------------------------------------------------------------- SC Fundamental Value BVI, Inc. 261,025 1.9% ----------------------------------------------------------------- Gary N. Siegler 534,800 3.9% ----------------------------------------------------------------- Peter M. Collery 534,800 3.9% ----------------------------------------------------------------- SC Fundamental, LLC 273,775 2.0% ----------------------------------------------------------------- SC-BVI Partners 261,025 1.9% ----------------------------------------------------------------- SC Fundamental Value BVI, Ltd. 261,025 1.9% ================================================================= (b) Siegler and Collery, by virtue of their status as principal members of SCFLLC, the general partner of Fund, and as the controlling stockholders, directors and executive officers of SC, the corporate member and manager of SCFLLC, may be deemed to share with Fund, SCFLLC and SC the power to vote or direct the vote and to dispose or to direct the disposition of shares of Common Stock of which Fund is the direct beneficial owner. Siegler and Collery, by virtue of their status as controlling stockholders, directors and executive officers of BVI Inc., the managing general partner of SC-BVI Partners, which is the investment manager of BVI Fund, may be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which BVI Fund is the direct beneficial owner. Because BVI Fund and SC-BVI Partners could be deemed to share with BVI Inc. the power to vote or direct the vote and the power to dispose or direct the disposition of such shares of
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Page 13 of 22 Pages Common Stock (and as to which BVI Inc. exercises such power), BVI Fund and SC- BVI Partners have been added as Reporting Persons. (c) The following table sets forth the transactions effected by each of the Reporting Persons listed in Item 5(a) during the past sixty days. Unless otherwise indicated, each of the transactions set forth below reflects a sale effected on the OTC Bulletin Board. [Download Table] ================================================================= BVI, Inc. Price Per on behalf Trade Date Share ($) Fund of BVI Ltd. Siegler Collery ----------------------------------------------------------------- 12/01/97 3.813 32,600* 32,600* 0 0 ----------------------------------------------------------------- 01/02/98 2.500 41,000* 41,000* 0 0 ----------------------------------------------------------------- 01/29/98 1.000 3,060 2,940 0 0 ----------------------------------------------------------------- 01/30/98 0.983 560** 540** 0 0 ----------------------------------------------------------------- 01/30/98 0.954 24,430 23,470 0 0 ----------------------------------------------------------------- 02/02/98 0.813 11,045 10,555 0 0 ----------------------------------------------------------------- 02/04/98 0.723 7,160 6,840 0 0 ----------------------------------------------------------------- 02/05/98 0.744 12,380 11,820 0 0 ----------------------------------------------------------------- 02/06/98 0.734 16,120 15,480 0 0 ----------------------------------------------------------------- 02/09/98 0.719 10,810 10,390 0 0 ----------------------------------------------------------------- 02/10/98 0.688 20,400 19,600 0 0 ----------------------------------------------------------------- 02/11/98 0.719 11,480 11,020 0 0 ================================================================ <FN> ------------ * Reflects a re-allocation of shares between affiliates. ** Reflects a purchase. (e) On February 4, 1998, the Reporting Persons, in the aggregate, ceased to be the beneficial owners of five percent or more of the Issuers's Common Stock, This Amendment No. 1 is therefore, a final filing.
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Page 14 of 22 Pages Item 7. Materials to be Filed as Exhibits. Exhibit A - Joint Filing Agreement dated February 12, 1998 among the Reporting Persons. Exhibit B - List of officers and directors for SC Fundamental, LLC, SC Fundamental BVI, Ltd. and SC-BVI Partners.
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Page 15 of 22 Pages EXHIBIT INDEX Exhibit Description A Joint Filing Agreement dated February 12, 1998 among the Reporting Persons B List of officers and directors of SC Fundamental LLC, SC Fundamental BVI, Ltd. and SC-BVI Partners
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Page 16 of 22 Pages After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: February 12, 1998 SC FUNDAMENTAL INC. By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC, as General Partner By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL, LLC By: SC FUNDAMENTAL INC., as Manager By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, INC. By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC-BVI PARTNERS By: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*)
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Page 17 of 22 Pages SC FUNDAMENTAL VALUE BVI, LTD. BY: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner of Investment Manager By: ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) ------------------------------- Neil H. Koffler as Attorney- in-Fact for Gary N. Siegler(*) ------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery(*) (*) Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities Corporation on August 4, 1995 and is hereby incorporated herein by reference. 112710
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Page 16 of 22 Pages After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: February 12, 1998 SC FUNDAMENTAL INC. By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC, as General Partner By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL, LLC By: SC FUNDAMENTAL INC., as Manager By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, INC. By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*)
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Page 17 of 22 Pages SC-BVI PARTNERS By: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, LTD. BY: SC FUNDAMENTAL VALUE BVI, INC., as Managing General Partner of Investment Manager By: /s/ Peter M. Collery ---------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) /s/ Gary N. Siegler ------------------------------- Neil H. Koffler as Attorney in-Fact for Gary N. Siegler(*) /s/ Peter M. Collery ------------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery(*) (*) Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities Corporation on August 4, 1995 and is hereby incorporated herein by reference.
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Page 18 of 22 Pages Exhibit A JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $0.01 per share, of APS Holding Corporation and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned, hereby execute this Agreement this 12th day of February, 1998. Dated: February 12, 1998 SC FUNDAMENTAL INC. By: /s/ Peter M. Collery ---------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(3) THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC, as General Partner By: /s/ Peter M. Collery ------------------------------ Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(3) SC FUNDAMENTAL VALUE BVI, INC. By: /s/ Peter M. Collery ----------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(3)
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Page 19 of 22 Pages /s/ Gary N. Siegler ----------------------------- Neil H. Koffler as Attorney-in- Fact for Gary N. Siegler(*) /s/ Peter M. Collery ------------------------------- Neil H. Koffler as Attorney-in- Fact for Peter M. Collery(*) SC FUNDAMENTAL, LLC By: SC Fundamental Inc., as Manager By: /s/ Peter M. Collery ------------------------- Neil H. Koffler as Attorney in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, LTD. SC-BVI PARTNERS By: SC Fundamental Value BVI, By: SC Fundamental Value BVI, Inc., as managing general Inc., as managing general partner of investment partner manager By: /s/ Peter M. Collery By: /s/ Peter M. Collery ------------------------------ ----------------------------- Neil H. Koffler as Attorney-in- Neil H. Koffler as Attorney- Fact for Peter M. Collery, in-Fact for Peter M. Collery, Vice President(*) Vice President(*) (*) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed as Exhibit A to Amendment No. 5 to the Schedule 13D relating to the US Facilities Corporation on August 4, 1995 and are hereby incorporated herein by reference.
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Page 18 of 22 Pages Exhibit A JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $0.01 per share, of APS Holding Corporation and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned, hereby execute this Agreement this 12th day of February, 1998. Dated: February 12, 1998 SC FUNDAMENTAL INC By: ---------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) THE SC FUNDAMENTAL VALUE FUND, L.P. By: SC FUNDAMENTAL, LLC, as General Partner By: ----------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, INC. By: ----------------------------- Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*)
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Page 19 of 22 Pages ------------------------------- Neil H. Koffler as Attorney-in- Fact for Gary N. Siegler(*) ------------------------------- Neil H. Koffler as Attorney-in- Fact for Peter M. Collery(*) SC FUNDAMENTAL, LLC By: SC Fundamental Inc., as Manager By: ------------------------------ Neil H. Koffler as Attorney- in-Fact for Peter M. Collery Vice President(*) SC FUNDAMENTAL VALUE BVI, LTD. SC-BVI PARTNERS By: SC Fundamental Value BVI, By: SC Fundamental Value BVI, Inc., as managing general Inc., as managing general partner of investment partner manager By: ------------------------------ ----------------------------- Neil H. Koffler as Attorney-in- Neil H. Koffler as Attorney- Fact for Peter M. Collery, in-Fact for Peter M. Collery, Vice President(*) Vice President(*) (*) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery and Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed as Exhibit A to Amendment No. 5 to the Schedule 13D relating to the US Facilities Corporation on August 4, 1995 and are hereby incorporated herein by reference.
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Page 20 of 22 Pages EXHIBIT B MEMBERS OF SC FUNDAMENTAL, LLC The name and present principal occupation or employment of the Members of SC Fundamental, LLC are set forth below. The business address of each Member is 10 East 50th Street, New York, New York 10022. All such persons are United States citizens. [Download Table] ================================================================= Present Principal Name and Position Occupation or Employment ----------------------------------------------------------------- SC Fundamental Inc. Manager of SC Fundamental, LLC Corporate Member ----------------------------------------------------------------- Gary N. Siegler Principal Member of SC Fundamental, Principal Member LLC, President of SC Fundamental Inc., 712 Advisory Services, Inc. and SC Fundamental BVI, Inc. ----------------------------------------------------------------- Peter M. Collery Principal Member of SC Fundamental, Principal Member LLC, Vice President of SC Fundamental Inc. and SC Fundamental BVI, Inc. ----------------------------------------------------------------- Neil H. Koffler Employee Member of SC Fundamental, Employee Member LLC and Vice President, Treasurer and Secretary of 712 Advisory Services Inc. ---------------------------------------------------------------- Curtis G. Macnguyen Employee Member of SC Fundamental, Employee Member LLC =================================================================
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Page 21 of 22 Pages EXHIBIT B DIRECTOR AND EXECUTIVE OFFICERS OF SC FUNDAMENTAL VALUE BVI, LTD. The name, address, citizenship and present principal occupation or employment of the directors and executive officers of SC Fundamental Value BVI, Ltd. are set forth below. The business address of such directors and executive officers is c/o Citco Fund Services (Cayman Islands) Ltd., Corporate Center, West Bay Road, Grand Cayman, Cayman Islands. [Download Table] ================================================================= Name, Position and Present Principal Citizenship Occupation or Employment ----------------------------------------------------------------- Gary N. Siegler Principal Member of SC Fundamental, Director LLC, President of SC Fundamental United States Inc., 712 Advisory Services, Inc. and SC Fundamental BVI, Inc. ----------------------------------------------------------------- Bernard Loze Principal of Loze & Associates Director France ----------------------------------------------------------------- David M. Mills Partner of Withers Solicitors Director England ----------------------------------------------------------------- Anthony Stocks Director of International Fund Director Services division of the Citco England Group =================================================================
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Page 22 of 22 Pages EXHIBIT B PARTNERS OF SC-BVI PARTNERS The name and position of the general partners of SC-BVI Partners are set forth below. The business address of each general partner is 10 East 50th Street, New York, New York 10022. All such persons are Delaware corporations. Name and Position ------------------- SC Fundamental BVI Inc. Managing General Partner GNS-BVI, Inc.(1) Partner PMC-BVI, Inc.(2) Partner ---------------------------------- (1) Gary N. Siegler is the sole stockholder, officer and director of GNS-BVI, Inc. (2) Peter M. Collery is the sole stockholder, officer and director of PMC-BVI, Inc. 112710

Dates Referenced Herein   and   Documents Incorporated by Reference

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This ‘SC 13D/A’ Filing    Date First  Last      Other Filings
Filed on:2/12/981422None on these Dates
2/4/98113
1/1/981011
9/30/9712
8/4/951723
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