UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
Onyx Acceptance Corporation
COMMON STOCK, par value $0.01
682914106
David T. Bradford, Esq., P. O. Box 5041, Thousand Oaks, CA 91359
(818) 597-3750
April 1, 2004
CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. Lincolnshire Associates, Ltd.
2. (a)
(b) X
3. SEC Use Only
4. WC
5.
6. Texas
7. -0-
8. 90,000
9. -0-
10. 90,000
11. 90,000
12.
13. 1.21%
14. PN
SEC 1746 (2-98)
CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. Employees' Retirement Plan of Consolidated Electrical Distributors, Inc.
2. (a)
(b) X
3. SEC Use Only
4. WC
5.
6. California
7. 464,200
8. -0-
9. 464,200
10. -0-
11. 464,200
12.
13. 6.25%
14. EP
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CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. Galashiels Fund, Ltd.
2. (a)
(b) X
3. SEC Use Only
4. WC
5.
6. Illinois
7. 160,000
8. -0-
9. 160,000
10. -0-
11. 160,000
12.
13. 2.15%
14. CO
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CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. Keith W. Colburn Retirement Plan
2. (a)
(b) X
3. SEC Use Only
4. WC
5.
6. Illinois
7. -0-
8. 8,500
9. -0-
10. 8,500
11. 8,500
12.
13. .01%
14. EP
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CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. Keith W. Colburn Trust
2. (a)
(b) X
3. SEC Use Only
4. WC
5.
6. Illinois
7. -0-
8. 17,000
9. -0-
10. 17,000
11. 17,000
12.
13. .02%
14. OO
SEC 1746 (2-98)
CUSIP NO. 682914106 13D OMB Number: 3235-0145
1. David D. Colburn
2. (a)
(b) X
3. SEC Use Only
4. PF
5.
6. Illinois
7. 3,500
8. 90,000
9. 3,500
10. 90,000
11. 93,500
12.
13. 1.25%
14. IN
SEC 1746 (2-98)
CUSIP NO. 682914106 13D OMB Number: 3235-0145
INTRODUCTION
Lincolnshire Associates, Ltd., a Texas limited partnership, hereby
files this Amendment No. 4 (the "Amendment") to Statement on Schedule 13D (the
"Statement") on behalf of the Reporting Persons identified in Item 2 below
pursuant to the Agreement With Respect to Schedule 13D attached to the Statement
as Exhibit 7(1). Defined terms not otherwise defined herein have the meanings
ascribed thereto in the Statement. This Amendment corrects prior clerical
errors.
Only those Items amended are reported herein.
Item 2: Identity and Background.
Item 2(c), Edmundson International Inc., is no longer a shareholder of
Onyx; and therefore is deleted.
Item 2(d), Consolidated Electrical Distributors, Inc., is no longer a
shareholder of Onyx; and therefore is deleted.
Item 2(b), Portshire, is no longer a shareholder of Onyx; and therefore
is deleted.
Item 3: Source and Amount of Funds or Other Consideration.
Item 3 is amended by adding the following paragraph:
On November 28, 2000, the Galashiels Fund Ltd.("Galashiels") purchased
20,000 shares of Common Stock on the open market at a purchase price of $3.56
per share; on December 5, 2000, Galashiels purchased 20,000 shares of Common
Stock on the open market at a purchase price of $3.49 per share; on December 7,
2000, Galashiels purchased 100 shares of Common Stock on the open market at a
purchase price of $3.55 per share;
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On December 8, 2000, Galashiels purchased 1,000 shares of Common Stock on the
open market at a purchase price of $3.55 per share; On December 12, 2000,
Galashiels purchased 18,900 shares of Common Stock on the open market at a
purchase price of $3.55 per share; On December 20, 2000, Galashiels purchased
20,000 shares of Common Stock on the open market at a purchase price of $3.43
per share; A table identifying each purchase is included in Item 5(c) of this
Amendment.
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CUSIP NO. 682914106 13D OMB Number: 3235-0145
Item 5: Interest in Securities of the Issuer.
Item 5 is amended and restated as follows:
(a) and (b) The aggregate number of shares and percentage of Common
Stock of the Issuer (based on the Issuer's report of Form 10Q that it had
5,130,000 shares of Common Stock outstanding as of December 31, 2003)
beneficially owned by each person named in Item 2, as well as the number of
shares of Common Stock as to which such person is deemed to have sole power to
vote or to direct the vote, shared power to vote or to direct the vote, sole
power to dispose or to direct the disposition, or shared power to dispose or
direct the disposition is set forth in the following table.
Reporting Person No. of Percentage Power to Vote Power to Dispose
Shares of Class Shared Sole Shared Sole
Benef.
Owned
---------------------------------------------------------------------------------------------
Lincolnshire 90,000 1.21% 90,000 90,000
---------------------------------------------------------------------------------------------
CED Pension Plan 464,200 6.25% 464,200 464,200
---------------------------------------------------------------------------------------------
Galashiels 160,000 2.15% 80,000 80,000
---------------------------------------------------------------------------------------------
Colburn KEOGH 8,500 .01% 8,500 8,500
---------------------------------------------------------------------------------------------
Colburn Trust 17,000 .02% 17,000 17,000
---------------------------------------------------------------------------------------------
D. Colburn 93,500 1.25 90,000 3,500 90,000 3,500
---------------------------------------------------------------------------------------------
The information required by Item 5 with respect to persons with whom
voting or dispositive power is shared is set forth in Item 2. The reporting
persons collectively own 743,200 shares, representing 14.49% of the total number
of shares of Common Stock outstanding.
(c) To the best knowledge of the Reporting Persons, no person described
in paragraph (a) of this Item 5 has effected any transaction in the Common Stock
of the Issuer during the past 60 days other than as set forth in the table
below:
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Date Purchaser # Shares Price Comm'n Total Funds
Required
-------------------------------------------------------------------------------
11/28/00 Galashiels 20,000 $3.56 $.06 $ 71,200
-------------------------------------------------------------------------------
12/05/00 Galashiels 20,000 $3.49 $.06 $ 69,750
-------------------------------------------------------------------------------
12/07/00 Galashiels 100 $3.55 $.06 $ 355
-------------------------------------------------------------------------------
12/08/00 Galashiels 1,000 $3.55 $.06 $ 3,550
-------------------------------------------------------------------------------
12/12/00 Galashiels 18,900 $3.55 $.06 $ 67,026
-------------------------------------------------------------------------------
12/20/00 Galashiels 20,000 $3.43 $.06 $ 68,500
-------------------------------------------------------------------------------
TOTAL 80,000 $280,381
---------
(d) To the best knowledge of the Reporting Persons, no person other
than the Reporting Persons and their equity owners has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, the Common Stock of Issuer.
(e) Not applicable.
Item 6: Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
The first paragraph of Item 6 is amended and restated to read as
follows:
Lincolnshire beneficially owns 90,000 shares of Common Stock. Portshire
Corp., the general partner of Lincolnshire Associates, is a wholly owned
subsidiary of Edmundson International. Therefore, Edmundson International,
through its ownership of Portshire Corp., beneficially owns 90,000 shares of
Common Stock. Edmundson International is itself a wholly owned subsidiary of
CED. Therefore, CED, through its ownership of Edmundson International and
indirect ownership of Portshire Corp., beneficially owns 90,000 shares of Common
Stock. Keith W. Colburn is the beneficiary of the Colburn Trust and Colburn
KEOGH, which together beneficially own 25,500 shares of Common Stock. A
committee makes investment decisions for CED Pension Plan. Any two members of
such committee can make investment decisions for CED Pension Plan. Two of the
members on CED Pension Plan's investment committee, including Colburn and D.
Colburn, also make investment decisions for Lincolnshire. CED Pension Plan
beneficially owns 464,200 shares of Common Stock. Galashiels beneficially owns
160,000 shares of Common Stock. D. Colburn beneficially owns 3,500 shares of
Common Stock.
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: April _, 2004
Lincolnshire Associates, Ltd.
By Its General Partner,
Portshire Corp.
By David C. Verbeck
Its Vice President
SEC 1746 (2-98)