UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 2)*
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO 13d-2(a)
EMERSON RADIO CORP.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
291087203
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(CUSIP Number)
Ruby Lee Yen Kee, Esq.
Managing Director, Legal
The Grande Holdings Limited
146 Robinson Road #01-01
Singapore 068909
011-65-6221-0010
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 9, 2006
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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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 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(b) 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.
(Continued on following pages)
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CUSIP No. 291087203 SCHEDULE 13D
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1 NAME OF REPORTING PERSON
S&T International Distribution Ltd
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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
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
NUMBER OF SHARES
NONE
----------- ------------------------------------------------------------------------------
BENEFICIALLY 8 SHARE VOTING POWER
10,000,000 shares of Common Stock.
OWNED BY EACH ----------- ------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING NONE
----------- ------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
10,000,000 shares of Common Stock.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,000,000 shares of Common Stock.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|X|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.97%
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14 TYPE OF REPORTING PERSON
CO
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2
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CUSIP No. 291087203 SCHEDULE 13D
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1 NAME OF REPORTING PERSON
Grande N.A.K.S. Ltd
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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
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY NONE
EACH REPORTING PERSON WITH
--------------------------- ----------- ------------------------------------------------------------------------------
8 SHARE VOTING POWER
10,000,000 shares of Common Stock.
--------------------------- ----------- ------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
NONE
--------------------------- ----------- ------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,000,000 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,000,000 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|X|
----------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.97%
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14 TYPE OF REPORTING PERSON
CO
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3
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CUSIP No. 291087203 SCHEDULE 13D
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1 NAME OF REPORTING PERSON
The Grande Holdings Limited
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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
WC, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY NONE
EACH REPORTING PERSON WITH
--------------------------- ----------- ------------------------------------------------------------------------------
8 SHARE VOTING POWER
10,690,400 shares of Common Stock.
--------------------------- ----------- ------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
NONE
--------------------------- ----------- ------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,690,400 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,690,400 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
| |
----------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.52%
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14 TYPE OF REPORTING PERSON
CO
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4
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CUSIP No. 291087203 SCHEDULE 13D
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1 NAME OF REPORTING PERSON
Christopher Ho Wing On
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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
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY NONE
EACH REPORTING PERSON WITH
----------- ------------------------------------------------------------------------------
8 SHARE VOTING POWER
10,690,400 shares of Common Stock.
----------- ------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
NONE
----------- ------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,690,400 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,690,400 shares of Common Stock.
----------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
| |
----------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.52%
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14 TYPE OF REPORTING PERSON
IN
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5
This Amendment No. 2 to Schedule 13D relates to shares of
Common Stock (the "Common Stock"), of Emerson Radio Corp. (the "Emerson").
This Amendment No. 2 supplementally amends the initial statement on Schedule
13D, dated December 15, 2005 (the "Initial Statement") and Amendment No. 1,
dated March 7, 2006 ("Amendment No. 1", and together with the Initial
Statement, the "Previous Filings"), both filed by the Reporting Persons (as
defined in the Initial Statement). This Amendment No. 2 is being filed by the
Reporting Persons to report that the number of Common Stock that the Reporting
Persons may be deemed to beneficially own has increased by more than one
percent of the current amount of outstanding Common Stock, as disclosed in the
Emerson's quarterly report on Form 10-Q filed on February 14, 2006.
Capitalized terms used but not defined herein shall have the meanings ascribed
to them in the Initial Statement. The Previous Filings are supplementally
amended as follows.
ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D/A (the "Statement") relates to the
Common Stock of Emerson.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
(1) THE GRANDE HOLDINGS LIMITED ("Grande Holdings") (a Bermuda corporation
engaged in manufacturing, sale and distribution of audio, video and other
consumer electronics and digital products), the executive offices of which are
located at 12th Floor, The Grande Building, 398 Kwun Tong Road, Kowloon, Hong
Kong;
(2) GRANDE N.A.K.S. LTD ("N.A.K.S.") (a British Virgin Islands corporation
engaged in purchasing, selling or holding of securities or other investments),
the executive offices of which are located at 146 Robinson Road, #01-01
Singapore 068909;
(3) S&T INTERNATIONAL DISTRIBUTION LTD ("S&T") (a British Virgin Islands
corporation engaged in purchasing, selling or holding of securities or other
investments), the executive offices of which are located at 146 Robinson Road,
#01-01 Singapore 068909;
(4) CHRISTOPHER HO WING ON. Mr. Ho is a citizen of Canada. Mr. Ho's business
address is 146 Robinson Road, #01-01 Singapore 068909. Mr. Ho is the President
and Group Chief Executive of Grande Holdings.
Each of the Reporting Persons is party to that certain Joint Filing
Agreement attached hereto as Exhibit 1. Accordingly, the Reporting Persons are
hereby filing a joint Schedule 13D.
As of the date of this Statement, S&T has the direct power to vote
and direct the disposition of the 10,000,000 shares of the Issuer's Common
Stock held by it (the "Original Shares"). The Grande Group Limited ("GGL") (a
Singapore corporation engaged in purchasing, selling or holding of securities
or other investments), the executive offices of which are located at 146
Robinson Road, #01-01 Singapore 068909, has the direct power to vote and
direct the disposition of 690,400 shares of the Issuer's Common Stock held by
it (the "Additional Shares"
6
and together with the Original Shares, the "Shares"). As the sole parent of
S&T, N.A.K.S. has the indirect power to vote and dispose of the Original
Shares held for the account of S&T. As the sole parent of N.A.K.S. and the
sole parent of GGL, Grande Holdings has the indirect power to vote and dispose
of the Shares held for the account of S&T and GGL. As the owner of
approximately 64% of the share capital of Grande Holdings, Barrican
Investments Corporation ("Barrican") has the indirect power to vote and
dispose of the Shares held for the account of S&T and GGL. As the sole parent
of Barrican, The Grande International Holdings Ltd ("Grande International")
has the indirect power to vote and dispose of the Shares held for the account
of S&T and GGL. As the sole owner of Grande International, the Ho Family Trust
has the indirect power to vote and dispose of the Shares held for the account
of S&T and GGL. As the sole beneficiary of the Ho Family Trust, Mr. Ho has the
indirect power to vote and dispose of the Shares held for the account of S&T
and GGL. In such capacities, Grande Holdings, N.A.K.S. and Mr. Ho may be
deemed to be the beneficial owners of the Shares held for the account of S&T
and GGL.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since March 7, 2006 (the date of filing of Amendment No. 1), all
Common Stock acquired by the Reporting Persons were acquired by GGL. The
source of funds for the Additional Shares was the working capital of GGL. The
total purchase price for the shares acquired since March 7, 2006 was
approximately US$1,235,103. Neither Mr. Ho, Grande Holdings nor N.A.K.S.
directly owns any Common Stock.
ITEM 4. PURPOSE OF TRANSACTION.
Although the Reporting Persons purchased the Original Shares for
investment purposes, they wish to be in a position to exercise greater
influence over the management and corporate activities of Emerson, including
activities which may relate to transactions described in subparagraphs (a)
through (j) of Item 4 of Schedule 13D. Accordingly, depending on prevailing
market, economic and other conditions, including in particular the price and
availability of shares of Common Stock, the Reporting Persons may seek to
acquire control of Emerson through additional share purchases in the open
market or privately-negotiated transactions.
Except as indicated in this Schedule 13D, none of the Reporting
Persons or, to the best of their knowledge, any of the other persons
identified in response to Item 2, currently has any plans or proposals that
relate to or would result in any of the transactions described in
subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
S&T is the record owner of the Original Shares and GGL is the record
owner of the Additional Shares. As the sole stockholder of S&T, N.A.K.S. may
be deemed to own beneficially the Original Shares. As the sole stockholder of
N.A.K.S and GGL, Grande Holdings may be deemed to own beneficially the Shares.
Mr. Ho has a beneficial interest in approximately 64% of the capital stock of
Grande Holdings. By virtue of such interest and his position with Grande
Holdings, Mr. Ho may be deemed to have power to vote and power to dispose of
the Shares beneficially held by Grande Holdings.
7
a. N.A.K.S. and S&T may be deemed to own beneficially 36.97% of the
Common Stock of Emerson, which percentage is calculated based upon
27,047,666 shares of Common Stock reported to be outstanding as of
February 13, 2006. Grande Holdings and Mr. Ho may be deemed to own
beneficially 39.52% of the Common Stock of Emerson. Each of the
Reporting Persons, except S&T, disclaims beneficial ownership of the
Shares.
b. Regarding the number of shares as to which such person has:
i. sole power to vote or to direct the vote: 0 shares for each
Reporting Person.
ii. shared power to vote or to direct the vote: 10,690,400
shares for each Reporting Person.
iii. sole power to dispose or to direct the disposition: 0 shares
for each Reporting Person.
iv. shared power to dispose or to direct the disposition:
10,690,400 shares for each Reporting Person.
c. Except for the transactions listed on Annex B hereto, all of which
were effected in the over-the-counter market in routine brokerage
transactions, there have been no transactions with respect to the
Common Stock since March 7, 2006 (the date of filing of Amendment No.
1) by any of the Reporting Persons.
d. No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or any proceeds from the sale
of, the Common Stock beneficially owned by any of the Reporting
Persons.
e. Not Applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1: Joint Filing Agreement, dated May 7, 2006 by and among
Grande Holding, N.A.K.S., S&T and Mr. Ho.
8
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.
Dated: May 7, 2006
/s/ Christopher Ho Wing On
-------------------------------------
CHRISTOPHER HO WING ON
THE GRANDE HOLDINGS LIMITED
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director
GRANDE N.A.K.S. LTD.
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director
S&T INTERNATIONAL DISTRIBUTION LTD.
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director
9
ANNEX A
RECENT TRANSACTIONS IN THE SECURITIES OF
EMERSON RADIO CORP.
Transactions for the account of GGL since March 7, 2006.
----------------------------- ----------------------------- ----------------------- ----------------------
Date of Transaction Nature of Transaction Number of Shares Price per Share
Acquisition (A) or
Disposition (D)
----------------------------- ----------------------------- ----------------------- ----------------------
8 Mar 2006 A 12,400 US$3.2800
----------------------------- ----------------------------- ----------------------- ----------------------
14 Mar 2006 A 2,800 US$3.2800
----------------------------- ----------------------------- ----------------------- ----------------------
16 Mar 2006 A 25,000 US$3.2800
----------------------------- ----------------------------- ----------------------- ----------------------
17 Mar 2006 A 42,200 US$3.3000
----------------------------- ----------------------------- ----------------------- ----------------------
11 Apr 2006 A 10,000 US$3.2800
----------------------------- ----------------------------- ----------------------- ----------------------
12 Apr 2006 A 15,000 US$3.2133
----------------------------- ----------------------------- ----------------------- ----------------------
13 Apr 2006 A 5,000 US$3.1990
----------------------------- ----------------------------- ----------------------- ----------------------
17 Apr 2006 A 10,000 US$3.2200
----------------------------- ----------------------------- ----------------------- ----------------------
18 Apr 2006 A 20,000 US$3.2050
----------------------------- ----------------------------- ----------------------- ----------------------
19 Apr 2006 A 10,000 US$3.2000
----------------------------- ----------------------------- ----------------------- ----------------------
20 Apr 2006 A 30,000 US$3.1953
----------------------------- ----------------------------- ----------------------- ----------------------
24 Apr 2006 A 11,300 US$3.1752
----------------------------- ----------------------------- ----------------------- ----------------------
25 Apr 2006 A 19,900 US$3.2575
----------------------------- ----------------------------- ----------------------- ----------------------
26 Apr 2006 A 6,800 US$3.3000
----------------------------- ----------------------------- ----------------------- ----------------------
28 Apr 2006 A 10,000 US$3.3000
----------------------------- ----------------------------- ----------------------- ----------------------
3 May 2006 A 62,400 US$3.4162
----------------------------- ----------------------------- ----------------------- ----------------------
4 May 2006 A 30,000 US$3.3773
----------------------------- ----------------------------- ----------------------- ----------------------
5 May 2006 A 10,000 US$3.4500
----------------------------- ----------------------------- ----------------------- ----------------------
8 May 2006 A 40,000 US$3.4425
----------------------------- ----------------------------- ----------------------- ----------------------
10
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) 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/A dated May 7,
2006 (including amendments thereto) with respect to the Common Stock of
Emerson Radio Corp. This Joint Filing Agreement shall be filed as an Exhibit
to such Statement.
Dated: May 7, 2006
/s/ Christopher Ho Wing On
----------------------------------------
CHRISTOPHER HO WING ON
THE GRANDE HOLDINGS LIMITED
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director
GRANDE N.A.K.S. LTD
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director
S&T INTERNATIONAL DISTRIBUTION LTD
By: /s/ Christopher Ho Wing On
-------------------------------------
Name: Christopher Ho Wing On
Title: Director