UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 8)*
SHELBOURNE PROPERTIES II, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PAR VALUE
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(Title of Class of Securities)
821374105
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(CUSIP Number)
MICHAEL L. ASHNER
100 JERICHO QUADRANGLE, SUITE 214
JERICHO, NEW YORK 11753
(516) 822-0022
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
MAY 22, 2002
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(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 13d-1 (b)(3) or (4), check the following
box |_|.
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*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 (the "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
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CUSIP No. 821374105
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NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1
Michael L. Ashner
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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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SOURCE OF FUNDS
4
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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SOLE VOTING POWER
7
NUMBER OF 84,256 shares (1)
SHARES ---------- ---------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH ---------- ---------------------------------------------------------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 9
WITH 84,256 shares (1)
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10 SHARED DISPOSITIVE POWER
--------- --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,256 shares (1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------- --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.42%
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14 TYPE OF REPORTING PERSON*
IN
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(1) Comprised entirely of shares owned by HX Investors L.P. of which Exeter
Capital Corporation is the sole general partner an entity in which Mr.
Ashner is the sole shareholder and director.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5
SCHEDULE 13D
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CUSIP No. 821374105
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NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1
HX Investors L.P.
--------- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
--------- -------------------------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------- -------------------------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF 84,256 shares
SHARES ---------- --------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH ---------- --------------------------------------------------------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 9
WITH 84,256 shares
---------- --------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,256 shares
--------- -------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
--------- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.42%
--------- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------- -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 5
This Amendment No. 8 amends certain information contained in the
Schedule 13D filed jointly by Michael L. Ashner and HX Investors, L.P. on
February 25, 2002 with respect to Shelbourne Properties II, Inc. (the
"Company"), as amended by Amendment No. 1 thereto filed on March 14, 2002, as
further amended by Amendment No. 2 thereto filed on March 26, 2002, as further
amended by Amendment No. 3 thereto filed on March 27, 2002, as further amended
by Amendment No. 4 thereto filed on April 8, 2002, and as further amended by
Amendment No. 5 thereto filed on April 19, 2002, as further amended by Amendment
No. 6 thereto filed on April 30, 2002, as further amended by Amendment No. 7
thereto filed on May 16, 2002 (as amended, the "13D"). Capitalized terms used
but not defined herein have the meanings ascribed to them in the 13D.
Item 4. Purpose of Transaction.
On May 22, 2002, HX, together with a number of other stockholders,
filed a Complaint against the Company, Shelbourne Properties I, Inc. and
Shelbourne Properties III, Inc. in the Chancery Court for the County of New
Castle, State of Delaware (the "Court") seeking an order (i) declaring invalid
the reduction of the number of members of the Board of Directors from nine to
four and simultaneous appointments of the current directors, (ii) declaring that
the current directors serve in de facto capacities only, and (iii) directing the
Company to hold a stockholder election on a date certain, with appropriate
record dates, for the purpose of electing directors to all nine seats on the
Board of Directors, by further ordering defendants to maintain the status quo
ante by not filling any of the six vacant seats on the Board of Directors
pending the succession of the holdover initial directors by those elected
pursuant to such stockholder election, and by further ordering the Company to
take all such steps as are necessary to lawfully implement and effectuate such
elections, and further ordering all such additional equitable relief as the
Court deems just.
In addition, HX independently filed a motion with the Court seeking to
intervene in the actions brought by certain other stockholders of the Company
relating to the setting of a date for the 2002 annual meeting of the Company's
stockholders and, in the case of one of the actions, the declaration as to the
number of seats on the Board of Directors to be voted upon at such meeting.
HX has indicated in its Court filings that it intends to nominate a
slate of directors for election at the 2002 annual meeting of stockholders of
the Company and at each of the annual meetings of stockholders of Shelburne
Properties I, Inc. and Shelbourne Properties III, Inc.
Pagd 4 of 5
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: May 22, 2002
HX INVESTORS L.P.
By: Exeter Capital Corporation
General Partner
By: /s/ Michael L. Ashner
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Michael L. Ashner, President
/s/ Michael L. Ashner
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Michael L. Ashner
Page 5 of 5