AMREP Corporation SC 13D/A #1 - R. Robotti 05/11/2010

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

 

(Amendment No. 1)*

AMREP Corporation

 

(Name of Issuer)

 

Common Stock, Par Value $0.10 Per Share

 

(Title of Class of Securities)

 

032159 10 5

 

 

 

(CUSIP Number)

 

Robert Robotti

c/o Robotti & Company, Incorporated

110 East 42nd Street, Suite 1100

New York, New York 10017

212-986-4800

 

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

May 11, 2010

 

(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.

 

(Page 1 of 15 Pages)

 

*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 the disclosures provided in a prior cover page.

The information required in 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).

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 2 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Robert E. Robotti

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

AF, OO

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 489,876

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 489,876

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

  489,876

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

8.2%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

  IN, HC

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 3 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Robotti & Company, Incorporated

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

OO

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 364,396

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 364,396

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

  364,396

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

6.1%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

  CO, HC

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 4 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Robotti & Company, LLC

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

OO

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 6,650

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 6,650

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 6,650

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

Less than 1%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 OO, BD

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 5 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Robotti & Company Advisors, LLC

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

OO

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 357,746

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 357,746

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 357,746

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

  6.0%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 OO, IA

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 6 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Kenneth R. Wasiak

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

AF

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 125,480

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 125,480

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 125,480

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

  2.1%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 IN, HC

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 7 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Ravenswood Management Company, L.L.C.

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

AF

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 125,480

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 125,480

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 125,480

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

  2.1%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 OO

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 8 of 15 Pages

 

 

1.

 

Names of Reporting Persons
The Ravenswood Investment Company, L.P.

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

WC

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 88,144

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 88,144

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 88,144

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

  1.5%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 PN

 

 

 

 

 


 

 

 

Schedule 13D

CUSIP No. 032159105

 

Page 9 of 15 Pages

 

 

1.

 

Names of Reporting Persons
Ravenswood Investments III, L.P.

 

 

2.

 

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

[   ]

 

(b)

[X]

 

 

 

3.

 

SEC Use Only

 

 

4.

 

Source of Funds (See Instructions)

 

 

WC

 

 

 

 

5.

 

Check 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

 

7.

Sole Voting Power: -0-

 

 

 

Shares

 

 

Beneficially

 

8.

Shared Voting Power: 37,366

 

 

 

Owned by

 

 

Each

 

9.

Sole Dispositive Power: -0-

 

 

 

Reporting

 

 

Person With

 

10.

Shared Dispositive Power: 37,366

 

 

11.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

 

 37,366

 

 

12.

 

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

 

 

 

 

 

13.

 

Percent of Class Represented by Amount in Row (11)

 

 

  Less than 1%

 

 

14.

 

Type of Reporting Person (See Instructions)

 

 

 PN

 

 

 

 

 


 

 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 10 of 15 Pages

 

 

                 This Statement on Schedule 13D Amendment No. 1 (this "Statement") is file on behalf of the Reporting Persons with the Securities and Exchange Commission (the "Commission").  This Statement amends the Initial Statement of Beneficial Ownership on Schedule 13D (the "Initial Statement," and as so amended, the "Schedule 13D") relating to shares of Common Stock, Par Value $0.10 Per Share (the "Common Stock"), of AMREP Corporation (the "Issuer"), filed on October 26, 2007 with the Commission as specifically set forth herein. Capitalized terms used herein and not otherwise defined herein shall have the same meanings ascribed to them in the Initial Statement.

 

 

Item 2.

Identity and Background

 

Item 2 of the Initial Statement is hereby amended and restated to read as follows:

 

                 (a), (b), (c) and (f).  This Statement is filed on behalf of Robert E. Robotti ("Robotti"), Robotti & Company, Incorporated ("ROBT"), Robotti & Company, LLC ("Robotti & Company"), Robotti & Company Advisors, LLC ("Robotti Advisors"), Kenneth R. Wasiak ("Wasiak"), Ravenswood Management Company, L.L.C. ("RMC"), The Ravenswood Investment Company, L.P. ("RIC"), and Ravenswood Investments III, L.P. ("RI," and together with Robotti, ROBT, Robotti & Company, Robotti Advisors, Wasiak, RMC, and RIC the "Reporting Persons").

 

               Mr. Robotti is a United States citizen whose principal occupation is serving as the president and treasurer of ROBT.  ROBT, a New York corporation, is the parent holding company of Robotti & Company and Robotti Advisors.  Robotti & Company, a New York limited liability company, is a broker-dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended ("Exchange Act").  Robotti Advisors, a New York limited liability company, is an investment advisor registered under the Investment Advisers Act of 1940, as amended.

 

               Mr. Wasiak, is a United States citizen whose principal occupation is serving as a consultant in the accounting firm of Pustorino, Puglisi & Company, P.C.  Each of Messrs. Robotti and Wasiak is a Managing Member of RMC.  RMC, a New York limited liability company, is the general partner of RIC and RI.  RIC and RI, New York limited partnerships, are private investment partnerships engaged in the purchase and sale of securities for their own accounts.

 

               The address of each of the Reporting Persons other than Mr. Wasiak, RIC, RMC and RI is 110 East 42nd Street, Suite 1100, New York, NY 11017-8535.  RMC's, RIC's, and RI's address is 104 Gloucester Road, Massapequa, New York, 11758.  Mr. Wasiak's business address is 515 Madison Avenue, New York, New York 10022.

 

                Executive Officers and Directors:

 

                In accordance with the provisions of General Instruction C to Schedule 13D information concerning executive officers and directors of ROBT, Robotti & Company and Robotti Advisors is included in Schedule A hereto, which is incorporated by reference herein.

 

              (d) and (e).  None of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons set forth on Schedule A, has during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3.

Source and Amount of Funds or Other Consideration

 

Item 3 of the Initial Statement is hereby amended and restated to read as follows:

 

                      The aggregate purchase price of the 6,650 shares of the Common Stock held by Robotti & Company is $228,826.08 (including brokerage fees and expenses).  All of the shares of Common Stock beneficially held by Robotti & Company were paid for using the working capital of its discretionary customers.

 

 


 

 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 11 of 15 Pages

 

                      The aggregate purchase price of the 357,746 shares of the Common Stock held by Robotti Advisors is $8,007,374.06 (including brokerage fees and expenses).  All of the shares of Common Stock beneficially held by Robotti Advisors were paid for using the working capital of its clients.

 

                      The aggregate purchase price of the 88,144 shares of the Common Stock held by RIC is $2,595,716.49 (including brokerage fees and expenses).  All of the shares of Common Stock beneficially held by RIC were paid for using its working capital.

 

                      The aggregate purchase price of the 37,336 shares of the Common Stock held by RI is $1,094,910.16 (including brokerage fees and expenses).  All of the shares of Common Stock beneficially held by RI were paid for using its working capital.

 

Item 4.

Purpose of Transaction

 

Item 4 of the Initial Statement is hereby amended to add the following:

 

                On September 21, 2010, the Reporting Persons wrote to Mr. Edward B. Cloues, II, Chairman of the Board of the Issuer.  In their letter,  the Reporting Persons stated, among other things, that:

 

  • They opposed the $12 per share bid by Mr. Nicholas G. Karabots, the Issuer's Vice Chairman and controlling shareholder.
  • The bid was ill-timed given the downturn in the Issuer's segments – real estate development and magazine subscription fulfillment.
  • They opposed the bid's requirement of a $1.5 million breakup fee, since the need to perform due diligence by the Company's Vice Chairman and largest shareholder is de minimis.
  • The Reporting Persons also stated that they would continue to monitor and evaluate the Board of Director's response to the bid.

 

Item 5.

Interest in Securities of the Issuer

 

Item 5 of the Initial Statement is hereby amended and restated to read as follows:

 

(a)-(b). As of September 23, 2010, the aggregate number of shares of Common Stock and percentage of the outstanding Common Stock of the Issuer beneficially owned (i) by each of the Reporting Persons, and (ii) to the knowledge of the Reporting Persons, by each other person who may be deemed to be a member of a group, is as follows:






Reporting Person




Aggregate Number of Shares


Number of Shares: Sole Power to Vote or Dispose


Number of Shares: Shared Power to Vote or Dispose




Approximate Percentage*

 

 

 

 

 

 

Robotti (1)(2)(3)(4)(5)

489,876

0

489,876

8.17%

ROBT (1)(2)(3)

364,396

0

364,396

6.08%

Robotti & Company (1)(2)

6,650

0

6,650

**

Robotti Advisors (1)(3)

357,746

0

357,746

5.97%

Wasiak (1)(4)(5)

125,480

0

125,480

2.09%

RMC (1)(4)(5)

125,480

0

125,480

2.09%

RIC (1)(4)

88,144

0

88,144

1.47%

RI (1)(5)

37,336

0

37,336

**

 

 

 


 

 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 12 of 15 Pages

 

                     * Based on 5,996,212 shares of Common Stock, Par Value $0.10 per share, outstanding at August 31, 2010, as disclosed in the Issuer's Quarterly Report on Form 10-Q, for the quarter ended July 31, 2010.
                    **   Less than one percent.

 

              (1) Each of the Reporting Persons disclaims beneficial ownership of the securities held by any other Reporting Person except to the extent of such Reporting Person's pecuniary interest therein, if any.
              (2) Each of Mr. Robotti and ROBT share with Robotti & Company the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 6,650 shares of Common Stock owned by the discretionary customers of Robotti & Company.
              (3) Each of Mr. Robotti and ROBT share with Robotti Advisors the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 357,746 shares of Common Stock owned by the advisory clients of Robotti Advisors.
              (4) Each of Messrs. Robotti and Wasiak and RMC share with RIC the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 88,144 shares of Common Stock owned by RIC.
              (5) Each of Messrs. Robotti and Wasiak and RMC share with RI the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 37,336 shares of Common Stock owned by RI.

 

(c) The table below lists all the transactions in the Issuer's Common Stock from March 12, 2010, sixty days prior to the date of the event requiring the filing of this Statement.  All transactions were made by Robotti & Company, Robotti Advisors, RIC, and RI in the open market.

 

Transactions in Shares since March 12, 2010.

 


Party

 

 


Date of Purchase/ Sale

 

Number of Shares of the Common Stock

 


Buy/Sell

 

 


Price Per Share

 

 

 

 

 

 

 

 

 

 

Robotti Advisors' Advisory Clients

 

04/01/2010

 

21

 

BUY

 

$13.39

Robotti Advisors' Advisory Clients

 

04/19/2010

 

300

 

BUY

 

$13.75

Robotti Advisors' Advisory Clients

 

04/20/2010

 

100

 

BUY

 

$13.759

Robotti Advisors' Advisory Clients

 

05/05/2010

 

300

 

BUY

 

$13.49

Robotti Advisors' Advisory Clients

 

05/05/2010

 

119

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/06/2010

 

1,081

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/07/2010

 

1,600

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/10/2010

 

400

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/11/2010

 

500

 

BUY

 

$13.497

Robotti Advisors' Advisory Clients

 

05/11/2010

 

800

 

BUY

 

$13.4925

Robotti Advisors' Advisory Clients

 

05/13/2010

 

550

 

BUY

 

$13.75

Robotti Advisors' Advisory Clients

 

05/14/2010

 

300

 

BUY

 

$13.4967

Robotti Advisors' Advisory Clients

 

05/14/2010

 

300

 

BUY

 

$13.4833

Robotti Advisors' Advisory Clients

 

05/17/2010

 

800

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/19/2010

 

400

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

05/20/2010

 

4,667

 

BUY

 

$13.4664

Robotti Advisors' Advisory Clients

 

05/20/2010

 

4,484

 

BUY

 

$13.4595

Robotti Advisors' Advisory Clients

 

05/21/2010

 

6,672

 

BUY

 

$13.3842

Robotti Advisors' Advisory Clients

 

05/24/2010

 

3,745

 

BUY

 

$13.4969

Robotti Advisors' Advisory Clients

 

05/25/2010

 

911

 

BUY

 

$13.4835

Robotti Advisors' Advisory Clients

 

05/26/2010

 

127

 

BUY

 

$13.4721

Robotti Advisors' Advisory Clients

 

05/27/2010

 

882

 

BUY

 

$13.4433

Robotti Advisors' Advisory Clients

 

05/28/2010

 

3,580

 

BUY

 

$13.4104

 


 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 13 of 15 Pages

 

Robotti Advisors' Advisory Clients

 

06/01/2010

 

1,138

 

BUY

 

$13.4564

Robotti Advisors' Advisory Clients

 

06/02/2010

 

101

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

06/03/2010

 

(985)

 

SELL

 

$13.5534

Robotti Advisors' Advisory Clients

 

06/04/2010

 

3,249

 

BUY

 

$13.4316

Robotti Advisors' Advisory Clients

 

06/07/2010

 

6,323

 

BUY

 

$13.4559

Robotti Advisors' Advisory Clients

 

06/08/2010

 

2,125

 

BUY

 

$13.4836

Robotti Advisors' Advisory Clients

 

06/24/2010

 

4,983

 

BUY

 

$13.419

Robotti Advisors' Advisory Clients

 

06/25/2010

 

3,000

 

BUY

 

$13.4694

Robotti Advisors' Advisory Clients

 

06/28/2010

 

5,369

 

BUY

 

$13.4337

Robotti Advisors' Advisory Clients

 

06/29/2010

 

992

 

BUY

 

$13.50

Robotti Advisors' Advisory Clients

 

06/30/2010

 

5,099

 

BUY

 

$12.4961

Robotti Advisors' Advisory Clients

 

07/01/2010

 

2,109

 

BUY

 

$12.494

Robotti Advisors' Advisory Clients

 

07/01/2010

 

(650)

 

SELL

 

$12.50

Robotti Advisors' Advisory Clients

 

07/02/2010

 

100

 

BUY

 

$12.25

Robotti Advisors' Advisory Clients

 

07/06/2010

 

300

 

BUY

 

$12.25

Robotti Advisors' Advisory Clients

 

07/07/2010

 

8,913

 

BUY

 

$12.1799

Robotti Advisors' Advisory Clients

 

07/08/2010

 

400

 

BUY

 

$12.2425

Robotti Advisors' Advisory Clients

 

07/09/2010

 

200

 

BUY

 

$12.25

Robotti Advisors' Advisory Clients

 

07/12/2010

 

1,275

 

BUY

 

$12.20

Robotti Advisors' Advisory Clients

 

07/12/2010

 

(985)

 

SELL

 

$12.2092

Robotti Advisors' Advisory Clients

 

07/13/2010

 

838

 

BUY

 

$12.1986

Robotti Advisors' Advisory Clients

 

07/14/2010

 

1,290

 

BUY

 

$12.1739

Robotti Advisors' Advisory Clients

 

07/15/2010

 

158

 

BUY

 

$12.11

Robotti Advisors' Advisory Clients

 

07/16/2010

 

500

 

BUY

 

$12.174

Robotti Advisors' Advisory Clients

 

07/19/2010

 

2,000

 

BUY

 

$12.146

Robotti Advisors' Advisory Clients

 

07/20/2010

 

1,595

 

BUY

 

$12.1981

Robotti Advisors' Advisory Clients

 

08/25/2010

 

(154)

 

SELL

 

$11.60

Robotti Advisors' Advisory Clients

 

08/26/2010

 

(176)

 

SELL

 

$11.50

Robotti & Company's Discretionary Customers



09/08/2010



(75)



SELL



$10.28

 

 

(d)

Robotti & Company's discretionary customers and Robotti Advisors' clients have the right to receive and the power to direct the receipt of dividends from, and the proceeds from the sale of, Common Stock owned by them.  Except as set forth in the immediately preceding sentence, no Person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such Common Stock beneficially owned by the Reporting Persons.

 

(e)

Not Applicable.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 14 of 15 Pages

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

 

 

 

 

Date:

September 23, 2010

 

 

 

 

 

 

 

Robotti & Company, Incorporated

 

 

 

 

 

/s/ Robert E. Robotti

 

By:

/s/ Robert E. Robotti

 

 

 

 

 

 

Robert E. Robotti

 

 

Name: Robert E. Robotti

 

 

 

Title: President and Treasurer

 

 

Robotti & Company, LLC

 

Robotti & Company Advisors, LLC

 

 

 

 

 

 

By:

/s/ Robert E. Robotti

 

By:

/s/ Robert E. Robotti

 

 

 

 

 

 

Name: Robert E. Robotti

 

 

Name: Robert E. Robotti

 

Title: President and Treasurer

 

 

Title: President and Treasurer

 

 

 

 

 

By:

/s/ Kenneth R. Wasiak

 

 

 

 

 

 

 

 

 

Kenneth R. Wasiak

 

 

Ravenswood Management Company, L.L.C.

 

The Ravenswood Investment Company, L.P.

 

 

 

 

 

By:

/s/ Robert E. Robotti

 

By:

Ravenswood Management Company, L.L.C.

 

 

 

 

 

 

Name: Robert E. Robotti

 

 

Its General Partner

 

Title: Managing Member

 

 

 

 

 

 

 

 

Ravenswood Investments III, L.P.

 

By:

/s/ Robert E. Robotti

 

 

 

 

 

 

 

 

 

Name: Robert E. Robotti

By:

Ravenswood Management Company, L.L.C.

 

 

Title: Managing Member

 

Its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ Robert E. Robotti

 

 

 

 

 

 

 

 

 

Name: Robert E. Robotti

 

 

 

 

Title: Managing Member

 

 

 

 

 

 

 

 

 

 

 


 

 

SCHEDULE 13D

CUSIP No. 032159 10 5

 

Page 15 of 15 Pages

 

 

 

Schedule A

 

The following table sets forth certain information concerning each of the directors and executive officers of each of the entities named below as of the date hereof.

 

Robotti & Company, Incorporated, Robotti & Company, LLC, and Robotti & Company Advisors, LLC

 

Name:

 

Robert E. Robotti

 

 

(Director, President, Treasurer)

Citizenship

 

U.S.A.

Principal Occupation:

 

President and Treasurer, Robotti & Company, Incorporated

Business Address:

 

110 East 42nd Street, Suite 1100, New York, New York 10017

 

 

 

Name:

 

Joseph E. Reilly

 

 

(Director, Secretary)

Citizenship:

 

U.S.A.

Principal Occupation:

 

Director and Secretary, Robotti & Company, Incorporated

Business Address:

 

110 East 42nd Street, Suite 1100, New York, New York 10017

 

 

 

Name:

 

Kenneth R. Wasiak

 

 

(Director)

Citizenship

 

U.S.A.

Principal Occupation:

 

Consultant, Pustorino, Puglisi & Co., P.C.

Business Address:

 

515 Madison Avenue, New York, New York 10022

 

 

 

 

 

 

 

 

 

 

 

 

 

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