sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 14)1
SL INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK, $.20 PAR VALUE
----------------------------
(Title of Class of Securities)
784413106
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(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 12, 2006
----------------
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(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 Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 11 pages)
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1 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 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).
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CUSIP No. 784413106 13D Page 2 of 11 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS II, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,449,650
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,449,650
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,449,650
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 3 of 11 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,449,650
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,449,650
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,449,650
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 4 of 11 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WARREN G. LICHTENSTEIN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,459,950
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,459,950
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,459,950
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 5 of 11 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GLEN KASSAN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
- 0 -
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 6 of 11 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JAMES R. HENDERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 20,824
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
20,824
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,824
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 7 of 11 pages
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The following constitutes Amendment No. 14 ("Amendment No.
14") to the Schedule 13D filed by the undersigned. This Amendment No. 14 amends
the Schedule 13D as specifically set forth.
Item 3(a) is hereby amended and restated as follows:
(a) The aggregate purchase price of the 1,449,650 Shares of
Common Stock owned by Steel Partners II is $10,711,807, including brokerage
commissions. The Shares of Common Stock owned by Steel Partners II were acquired
with partnership funds. The aggregate purchase price of the 10,300 Shares of
Common Stock purchased by Mr. Lichtenstein is approximately $37,509 and came
from his personal funds.
Item 4 is hereby amended to add the following:
On January 12, 2006, Steel Partners II delivered a letter to
Mutual Securities providing written notice to Mutual Securities of the
termination of that certain Purchase Trading Plan Agreement, dated April 5,
2005, by and between Steel Partners II and Mutual Securities. The letter to
Mutual Securities is attached hereto as Exhibit 10 and is incorporated herein by
reference.
Item 5(a) - (b) is hereby amended and restated as follows:
(a)-(b) The aggregate percentage of Shares of Common Stock
reported owned by each person named herein is based upon 5,589,611 Shares
outstanding, which is the total number of Shares of Common Stock outstanding as
reported in the Issuer's Quarterly Report on Form 10-Q filed on November 9,
2005.
As of the close of business on January 13, 2006, Steel
Partners II beneficially owned 1,449,650 Shares of Common Stock, constituting
approximately 25.9% of the Shares outstanding. As the general partner of Steel
Partners II, Partners LLC may be deemed to beneficially own the 1,449,650 Shares
of Common Stock owned by Steel Partners II, constituting approximately 25.9% of
the Shares outstanding. As the sole executive officer and managing member of
Partners LLC, which in turn is the general partner of Steel Partners II, Mr.
Lichtenstein may be deemed to beneficially own the 1,449,650 Shares of Common
Stock owned by Steel Partners II, which, together with the 10,300 Shares of
Common Stock owned directly by Mr. Lichtenstein, constitute approximately 26.1%
of the Shares outstanding. Mr. Lichtenstein has sole voting and dispositive
power with respect to the 10,300 Shares owned by him and the 1,449,650 Shares
owned by Steel Partners II by virtue of his authority to vote and dispose of
such Shares.
As of the close of business on January 13, 2006, Mr. Henderson
beneficially owned 20,824 Shares of Common Stock issuable upon the exercise of
options, constituting less than 1% of the Shares outstanding.
Mr. Kassan currently does not beneficially own any Shares of
Common Stock.
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CUSIP No. 784413106 13D Page 8 of 11 pages
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Item 5(c) is hereby amended to add the following:
There have been no transactions in the Issuer's Common Stock
during the past sixty days by the Reporting Persons.
Item 6 is hereby amended to add the following:
On January 12, 2006, Steel Partners II delivered a letter to
Mutual Securities providing written notice to Mutual Securities of the
termination of that certain Purchase Trading Plan Agreement, dated April 5,
2005, by and between Steel Partners II and Mutual Securities (as described in
Item 4). The letter to Mutual Securities is attached hereto as Exhibit 10 and is
incorporated herein by reference.
Item 7 is hereby amended to add the following exhibit:
10. Letter to Mutual Securities dated January 12, 2006
terminating the Purchase Trading Plan Agreement by
and between Steel Partners II, L.P. and Mutual
Securities, Inc., dated April 5, 2005.
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CUSIP No. 784413106 13D Page 9 of 11 pages
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SIGNATURES
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After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: January 17, 2006 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.,
General Partner
By: /s/ Lauren Isenman
----------------------------------------
Lauren Isenman
As Attorney in Fact for Warren G.Lichtenstein
STEEL PARTNERS, L.L.C.
By: /s/ Lauren Isenman
----------------------------------------
Lauren Isenman
As Attorney in Fact for Warren G. Lichtenstein
/s/ Lauren Isenman
--------------------------------------------
LAUREN ISENMAN
As Attorney in Fact for Warren G. Lichtenstein
/s/ Glen Kassan
--------------------------------------------
GLEN KASSAN
/s/ James R. Henderson
--------------------------------------------
JAMES R. HENDERSON
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CUSIP No. 784413106 13D Page 10 of 11 pages
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EXHIBIT INDEX
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Exhibit Page
------- ----
1. Joint Filing Agreement by and among Steel Partners II, L.P. and --
Warren G.Lichtenstein dated as of June 20, 1997 (previously
filed).
2. Joint Filing Agreement by and among Steel Partners II, L.P., --
Warren G. Lichtenstein, Newcastle Partners, L.P., Mark E.
Schwarz, Glen Kassan, James R. Henderson and Steven Wolosky
dated as of February 15, 2001 (previously filed).
3. Director Nomination Letter from Steel Partners II, L.P. to SL --
Industries, Inc. dated February 15, 2001 (previously filed).
4. Letter from The SL Full Value Committee to Owen Farren dated --
February 16, 2001 (previously filed).
5. Director Nomination Letter from Steel Partners II, L.P. to SL --
Industries, Inc. dated November 13, 2001 (previously filed).
6. Preliminary Proxy Statement of The RORID Committee dated --
November 20, 2001 (previously filed).
7. Letter from Steel Partners II, L.P. to SL Industries, Inc. dated --
November 21, 2001 (previously filed).
8. Joint Filing Agreement by and among Steel Partners II, L.P., --
Steel Partners, L.L.C., Warren G. Lichtenstein, Glen Kassan and
James R. Henderson, dated as of September 5, 2003 (previously
filed).
9. Purchase Trading Plan Agreement by and between Steel Partners --
II, L.P. and Mutual Securities, Inc., dated April 5, 2005
(previously filed).
10. Letter to Mutual Securities terminating the Purchase Trading 11
Plan Agreement by and between Steel Partners II, L.P. and Mutual
Securities, Inc., dated April 5, 2005.
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CUSIP No. 784413106 13D Page 11 of 11 pages
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Exhibit 10
STEEL PARTNERS II, L.P.
590 MADISON AVENUE, 32ND FLOOR
NEW YORK, NY 10022
(212) 520-2300
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January 12, 2006
Mutual Securities, Inc.
28632 Roadside Drive, Suite 200
Agoura Hills, CA 91301
Gentlemen:
Reference is made to that certain Purchase Trading Plan Agreement,
dated April 5, 2005 (the "Agreement"), by and between Steel Partners II, L.P.
("Steel") and Mutual Securities, Inc. ("Mutual"). The parties entered into the
Agreement for the purpose of establishing a trading plan to make purchases of
common stock of SL Industries, Inc., par value $.20 per share, in compliance
with all applicable laws, including, without limitation, Section 10(b) of the
Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder, including, but not limited to, Rule 10b5-1. All
capitalized terms used and not defined in this letter shall have the meanings
given to them in the Agreement.
In accordance with the termination provisions of Section 4(c) of the
Agreement, by way of this letter, Steel hereby provides written notice to Mutual
of the termination of the Agreement. The Agreement shall terminate pursuant to
its terms as of the date hereof, and be of no further force and effect.
Very truly yours,
STEEL PARTNERS II, L.P.
By: STEEL PARTNERS, L.L.C.
its General Partner
By: /s/ Warren Lichtenstein
-------------------------------------
Name: Warren Lichtenstein
Title: Managing Member