UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Subordinated Units representing limited partner interests | Â (4) | Â (4) | Common Units | 0 (1) (2) (3) | $ (4) | I | See footnotes (1), (2) and (3) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Slifka Richard C/O GLOBAL GP LLC P.O. BOX 9161, 800 SOUTH STREET WALTHAM, MA 02454-9161 |
 X |  X |  |  |
Richard Slifka | 09/27/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | As of September 27, 2005, Alfred A. Slifka and Richard Slifka are equal owners of ASRS Global General Partnership. ASRS Global General Partnership owns 100% of Global Petroleum Corp. ("GPC"), which owns a 98% limited partner interest in Issuer. At the closing of the Issuer's initial public offering of common units ("Common Units") representing limited partner interests (the "Offering"), GPC's 98% limited partner interest will be reduced to 16.9% as a result of the dilutive effect of the Offering. Global GP LLC ("GP LLC") is sole general partner of and holds a 2% general partner interest in the Issuer. As of September 27, 2005, GPC is the sole member of GP LLC. At the closing of the Offering, GPC's 100% membership interest in GP LLC will be reduced to 36%. |
(2) | As of September 27, 2005, Alfred A. Slifka and Richard Slifka are equal owners of ASRS Montello General Partnership. ASRS Montello General Partnership owns 72.8% of Montello Oil Corporation ("Montello"). As of September 27, 2005, Alfred A. Slifka and Richard Slifka are equal owners of Sandwich Terminal, L.L.C. ("Sandwich"). As of September 27, 2005, Chelsea Terminal Corp. is the general partner of Chelsea Terminal Limited Partnership ("Chelsea LP"). Alfred A. Slifka and Richard Slifka are equal owners of Chelsea Terminal Corp. and each owns a 50% limited partner interest in Chelsea LP. |
(3) | At the closing of the Offering, each of GPC, Montello, Sandwich and Chelsea LP will contribute certain assets to the Issuer and in exchange therefor (a) GPC will receive (i) 226,736 Common Units, (ii) 1,723,196 subordinated units ("Subordinated Units") representing limited partner interests in the Issuer and (iii) a 36% membership interest in GP LLC, (b) Montello will receive (i) 308,552 Common Units, (ii) 2,344,992 Subordinated Units and (iii) a 49% membership interest in GP LLC, (c) Sandwich will receive (i) 1,114 Common Units and (ii) 8,464 Subordinated Units and (d) Chelsea LP will receive (i) 94,659 Common Units and (ii) 719,409 Subordinated Units. As of the closing of the Offering Alfred A. Slifka and Richard Slifka will be the indirect beneficial owners of the Common Units and the Subordinated Units held by each of GPC, Montello, Sandwich and Chelsea LP. |
(4) | Each Subordinated Unit will convert into one Common Unit at the end of the subordination period, which will end once the Issuer meets certain financial tests set forth in the agreement of limited partnership of the Issuer, but not before September 30, 2008. These financial tests require the Issuer to have earned and paid the minimum quarterly distributions and arrearages (if any) on all of its outstanding units for any three consecutive four quarter periods. |
 Remarks: Mr. Slifka is a Director of Global GP LLC, the general partner of Global Partners LP, the Issuer. |