UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
Torch Energy Royalty Trust
--------------------------
(Name of Issuer)
Units of Beneficial Interest
----------------------------
(Title of Class of Securities)
891013104
---------
(CUSIP Number)
Mr. James A. Mitarotonda
c/o Barington Companies Equity Partners, L.P.
888 Seventh Avenue, 17th Floor
New York, NY 10019
(212) 974-5700
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
November 14, 2005
-----------------
(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(e), 13d-1(f), or 13d-1(g), check
the following box: |_|.
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Companies Equity Partners, L.P. 13-4088890
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 60,720
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 60,720
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,720
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.71%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Companies Investors, LLC 13-4126527
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 60,720
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 60,720
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,720
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.71%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
OO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Companies Offshore Fund, Ltd. (BVI)
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 45,540
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 45,540
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,540
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.53%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
CO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Investments, L.P. 20-2871525
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 45,540
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 45,540
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,540
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.53%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Companies Advisors, LLC 20-0327470
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 91,080
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 91,080
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
91,080
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.06%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
IA,OO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Capital Group, L.P. 13-3635132
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 151,800
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 151,800
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
151,800
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.77%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LNA Capital Corp. 13-3635168
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 151,800
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 151,800
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
151,800
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.77%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
CO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James Mitarotonda
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 151,800
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 151,800
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
151,800
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.77%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
IN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alpine Associates, A Limited Partnership 06-0944931
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 243,100
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 243,100
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
243,100
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.83%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN,BD
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alpine Partners, L.P. 22-3528110
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 33,100
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 33,100
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,100
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.38%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN,BD
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alpine Associates II, L.P. 20-1476614
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 17,500
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 17,500
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,500
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Palisades Partners, L.P. 13-3456480
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS WC
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 11,000
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 11,000
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,000
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.13%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eckert Corporation 22-2548436
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 276,200
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 17,500
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 276,200
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
17,500
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
293,700
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.42%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
CO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Victoria Eckert
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF 276,200
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 17,500
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 276,200
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
17,500
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
293,700
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.42%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
IN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gordon A. Uehling, Jr.
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF none
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 11,000
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON none
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
11,000
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,000
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.13%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
IN
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arbitrage & Trading Management Company
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF none
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 28,500
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON none
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
28,500
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,500
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.33%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
OO
_______________________________________________________________________________
SCHEDULE 13D
CUSIP No. 891013104
-------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert E. Zoellner
______________________________________________________________________________
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
_______________________________________________________________________________
3) SEC USE ONLY
_______________________________________________________________________________
4) SOURCE OF FUNDS OO
_______________________________________________________________________________
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
_______________________________________________________________________________
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_______________________________________________________________________________
7) SOLE VOTING POWER
NUMBER OF none
SHARES _____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 28,500
EACH _____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON none
WITH _____________________________________________________________
10) SHARED DISPOSITIVE POWER
28,500
_______________________________________________________________________________
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,500
_______________________________________________________________________________
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
_______________________________________________________________________________
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.33%
_______________________________________________________________________________
14) TYPE OF REPORTING PERSON
IN
_______________________________________________________________________________
Item 1. Security and Issuer.
--------------------
This statement on Schedule 13D (the "Statement") relates to the units of
beneficial interest (the "Units"), of Torch Energy Royalty Trust, a Delaware
trust (the "Trust"). The principal executive offices of the Trust are located at
Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890.
Item 2. Identity and Background.
------------------------
(a) - (c) This Statement is being filed by Barington Companies Equity
Partners, L.P., Barington Companies Investors, LLC, Barington Companies Offshore
Fund, Ltd. (BVI), Barington Investments, L.P., Barington Companies Advisors,
LLC, Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, Alpine
Associates, A Limited Partnership, Alpine Partners, L.P., Alpine Associates II,
L.P., Palisades Partners, L.P., Eckert Corporation, Victoria Eckert, Gordon A.
Uehling, Jr., Arbitrage & Trading Management Company and Robert E. Zoellner
(each, a "Reporting Entity" and, collectively, the "Reporting Entities").
As of the date of this filing, the Reporting Entities are the beneficial
owners of, in the aggregate, 456,500 Units, representing approximately 5.31% of
the Units presently outstanding.
Barington Companies Equity Partners, L.P. is a Delaware limited
partnership formed to engage in the business of acquiring, holding and disposing
of investments in various companies. The address of the principal business and
principal office of Barington Companies Equity Partners, L.P. is 888 Seventh
Avenue, 17th Floor, New York, New York 10019.
Barington Companies Offshore Fund, Ltd. (BVI) is a limited company
organized under the laws of the British Virgin Islands formed to engage in the
business of acquiring, holding and disposing of investments in various
companies. The address of the principal business and principal office of
Barington Companies Offshore Fund, Ltd. (BVI) is c/o Bison Financial Services
LTD, Bison Court, Road Town, Tortola, British Virgin Islands. The officers and
directors of Barington Companies Offshore Fund, Ltd. (BVI) and their principal
occupations and business addresses are set forth on Schedule I and incorporated
by reference in this Item 2.
Barington Investments, L.P. is a Delaware limited partnership formed to
engage in the business of acquiring, holding and disposing of investments in
various companies. The address of the principal business and principal office of
Barington Investments, L.P. is 888 Seventh Avenue, 17th Floor, New York, New
York 10019. The general partner of Barington Investments, L.P. is Barington
Companies Advisors, LLC.
The general partner of Barington Companies Equity Partners, L.P. is
Barington Companies Investors, LLC. Barington Companies Investors, LLC is a
Delaware limited liability company formed to be the general partner of Barington
Companies Equity Partners, L.P. The address of the principal business and
principal office of Barington Companies Investors, LLC is 888 Seventh Avenue,
17th Floor, New York, New York 10019. James Mitarotonda is the Managing Member
of Barington Companies Investors, LLC. The business address of Mr. Mitarotonda
is c/o Barington Capital Group, L.P., 888 Seventh Avenue, 17th Floor, New York,
New York 10019.
Barington Companies Investors, LLC is a majority-owned subsidiary of
Barington Capital Group, L.P. Barington Capital Group, L.P. is a New York
limited partnership formed to engage in the business of acquiring, holding and
disposing of investments in various companies. The address of the principal
business and principal office of Barington Capital Group, L.P. is 888 Seventh
Avenue, 17th Floor, New York, New York 10019.
Barington Capital Group, L.P. is also the Managing Member of Barington
Companies Advisors, LLC, the investment advisor of Barington Companies Offshore
Fund, Ltd. (BVI), which has voting power with respect to the Units owned by
Barington Companies Offshore Fund, Ltd. (BVI). Barington Companies Advisors, LLC
is a Delaware limited liability company formed to be the investment advisor of
Barington Companies Offshore Fund, Ltd. (BVI). The address of the principal
business and principal office of Barington Companies Advisors, LLC is 888
Seventh Avenue, 17th Floor, New York, New York 10019.
The general partner of Barington Capital Group, L.P. is LNA Capital Corp.
LNA Capital Corp. is a Delaware corporation formed to be the general partner of
Barington Capital Group, L.P. The address of the principal business and
principal office of LNA Capital Corp. is c/o Barington Capital Group, L.P., 888
Seventh Avenue, 17th Floor, New York, New York 10019. James Mitarotonda is the
sole stockholder and director of LNA Capital Corp. The officers of LNA and their
principal occupations and business addresses are set forth on Schedule II and
incorporated by reference in this Item 2.
Alpine Associates, A Limited Partnership is a New Jersey limited
partnership. Its principal business is acquiring, holding and disposing of
investments. The address of the principal business and principal office of
Alpine Associates, A Limited Partnership is 100 Union Avenue, Cresskill, NJ
07626.
Alpine Partners, L.P. is a New Jersey limited partnership. Its principal
business is acquiring, holding and disposing of investments. The address of the
principal business and principal office of Alpine Partners, L.P. is 100 Union
Avenue, Cresskill, NJ 07626.
Alpine Associates II, L.P. is a New Jersey limited partnership. Its
principal business is acquiring, holding and disposing of investments. The
address of the principal business and principal office of Alpine Associates II,
L.P. is 100 Union Avenue, Cresskill, NJ 07626.
Palisades Partners, L.P. is a Delaware limited partnership. Its principal
business is acquiring, holding and disposing of investments. The address of the
principal business and principal office of Palisades Partners, L.P. is 100 Union
Avenue, Cresskill, NJ 07626.
The sole general partner of each of Alpine Associates, A Limited
Partnership, Alpine Partners, L.P. and Alpine Associates II, L.P. is Eckert
Corporation. Eckert Corporation is a Delaware corporation. Its principal
business is acting as general partner of Alpine Associates, A Limited
Partnership, Alpine Partners, L.P. and Alpine Associates II, L.P. The
address of the principal business and principal office of Eckert Corporation
is 100 Union Avenue, Cresskill, NJ 07626. Victoria Eckert is the sole
director and stockholder of Eckert Corporation. The business address of Ms.
Eckert is 100 Union Avenue, Cresskill, NJ 07626. The officers of Eckert
Corporation and their principal occupations and business addresses are set
forth on Schedule III and incorporated by reference in this Item 2.
The sole general partner of Palisades Partners, L.P. is Gordon A.
Uehling, Jr. The principal occupation of Mr. Uehling is acting as the
general partner of Palisades Partners, L.P. The business address of Mr.
Uehling is 100 Union Avenue, Cresskill, NJ 07626.
Arbitrage & Trading Management Company is a New Jersey sole
proprietorship. Robert E. Zoellner is the owner and operator of Arbitrage &
Trading Management Company. Pursuant to advisory agreements, Arbitrage & Trading
Management Company provides investment advisory services to, but does not have
discretion to manage the investment activities of, Alpine Associates, A Limited
Partnership and Alpine Partners, L.P. Pursuant to advisory agreements, Arbitrage
& Trading Management Company provides investment advisory services to, and has
full discretion and authority to manage the investment activities of, Alpine
Associates II, L.P. and Palisades Partners, L.P. Arbitrage & Trading Management
Company's principal business and Mr. Zoellner's principal occupation are
providing investment advisory services. Mr. Zoellner and Ms. Eckert are married.
The address of the principal business and principal office of Arbitrage &
Trading Management Company and the business address of Mr. Zoellner is 100 Union
Avenue, Cresskill, NJ 07626.
(d) - (e) During the last five years, none of the Reporting Entities
or any other person identified in response to this Item 2 was convicted in a
criminal proceeding (excluding traffic violations and similar misdemeanors)
or was 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.
(f) Each natural person identified in Item 2 is a citizen of the
United States, other than Graham Cook, a director of Barington Companies
Offshore Fund, Ltd. (BVI), who is a citizen of the United Kingdom.
Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
All purchases of Units by the Reporting Entities were made in open market
transactions. The transactions effected in the past 60 days are described in the
attached Schedule IV. All such purchases of Units were funded by working
capital, which may, at any given time, include margin loans made by brokerage
firms or financial institutions in the ordinary course of business. The amount
of funds expended for such purchases was approximately $422,994.88 by Barington
Companies Equity Partners, L.P., $317,246.16 by Barington Companies Offshore
Fund Ltd. (BVI), $317,246.16 by Barington Investments, L.P., $1,624,194.30 by
Alpine Associates, A Limited Partnership, $221,048.21 by Alpine Partners, L.P.,
$116,794.68 by Alpine Associates II, L.P. and $73,384.00 by Palisades Partners,
L.P.
Item 4. Purpose of Transaction.
-----------------------
Each of the Reporting Entities acquired beneficial ownership of Units for
investment purposes. Except as set forth in this Item 4, none of the Reporting
Entities have any present plans or proposals that relate to or would result in
any of the actions specified in clauses (a) through (j) of the instructions to
Item 4 of Schedule 13D. The Reporting Entities intend to review their investment
in the Trust on a continuing basis. Depending on various factors
including, without limitation, the price levels and trading volume of the Units,
conditions in the securities markets and general economic and industry
conditions, the Reporting Entities may in the future take such actions with
respect to their investment in the Trust as they deem appropriate including,
without limitation, maintaining their current level of investment in the Units,
purchasing additional Units in the open market, in privately negotiated
transactions, by tender offer or otherwise, selling or otherwise disposing of
any or all of the Units beneficially owned by them in the open market, in
privately negotiated transactions or otherwise, communicating with other Unit
holders, calling a meeting of Unit holders to vote on any of the matters
permitted to be voted on at such a meeting, including but not limited to the
termination of the Trust, taking any other action with respect to the Trust or
the Units in any manner permitted by law or changing their intention with
respect to any or all matters referred to in this Item 4.
Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) As of the date hereof, Barington Companies Equity Partners, L.P.
beneficially owns an aggregate of 60,720 Units, representing approximately 0.71%
of the Units presently outstanding based upon the 8,600,000 Units reported by
the Trust to be issued and outstanding as of September 30, 2005 in its Form 10-Q
filed with the Securities and Exchange Commission on November 10, 2005 (the
"Issued and Outstanding Units"). As the general partner of Barington Companies
Equity Partners, L.P., Barington Companies Investors, LLC may be deemed to
beneficially own the 60,720 Units owned by Barington Companies Equity Partners,
L.P.
As of the date hereof, Barington Companies Offshore Fund, Ltd. (BVI)
beneficially owns 45,540 Units, constituting approximately 0.53% of the Issued
and Outstanding Units. As of the date hereof, Barington Investments, L.P.
beneficially owns 45,540 Units. As the investment advisor to Barington Companies
Offshore Fund, Ltd. (BVI) and the general partner of Barington Investments,
L.P., Barington Companies Advisors, LLC may be deemed to beneficially own the
45,540 Units owned by Barington Companies Offshore Fund, Ltd. (BVI) and the
45,540 Units owned by Barington Investments, L.P., representing an aggregate of
91,080 Units, constituting approximately 1.06% of the Issued and Outstanding
Units. As the Managing Member of Barington Companies Advisors, LLC, Barington
Capital Group, L.P. may be deemed to beneficially own the 45,540 Units
beneficially owned by Barington Investments, L.P. and the 45,540 Units owned by
Barington Companies Offshore Fund, Ltd. (BVI). As the majority member of
Barington Companies Investors, LLC, Barington Capital Group, L.P. may also be
deemed to beneficially own the 60,720 Units owned by Barington Companies Equity
Partners, L.P., representing an aggregate of 151,800 Units, constituting
approximately 1.77% of the Issued and Outstanding Units. As the general partner
of Barington Capital Group, L.P., LNA Capital Corp. may be deemed to
beneficially own the 60,720 Units owned by Barington Companies Equity Partners,
L.P., the 45,540 Units beneficially owned by Barington Investments, L.P. and the
45,540 Units owned by Barington Companies Offshore Fund, Ltd. (BVI),
representing an aggregate of 151,800 Units, constituting approximately 1.77% of
the Issued and Outstanding Units. As the sole stockholder and director of LNA
Capital Corp., Mr. Mitarotonda may be deemed to beneficially own the 60,720
Units owned by Barington Companies Equity Partners, L.P., the 45,540 Units
beneficially owned by Barington Investments, L.P. and the 45,540 Units owned by
Barington Companies Offshore Fund, Ltd. (BVI), representing an aggregate of
151,800 Units, constituting approximately 1.77% of the Issued and Outstanding
Units. Mr. Mitarotonda has sole voting and dispositive power with respect to the
60,720 Units owned by
Barington Companies Equity Partners, L.P., the 45,540 Units beneficially owned
by Barington Investments, L.P. and the 45,540 Units owned by Barington Companies
Offshore Fund, Ltd. (BVI). Mr. Mitarotonda disclaims beneficial ownership of any
such Units except to the extent of his pecuniary interest therein.
As of the date hereof, Alpine Associates, A Limited Partnership
beneficially owns 243,100 Units, representing approximately 2.83% of the Issued
and Outstanding Units. As of the date hereof, Alpine Partners, L.P. beneficially
owns 33,100 Units, representing approximately 0.38% of the Issued and
Outstanding Units. As of the date hereof, Alpine Associates II, L.P.
beneficially owns 17,500 Units, representing approximately 0.20% of the Issued
and Outstanding Units. As of the date hereof, Palisades Partners, L.P.
beneficially owns approximately 11,000 Units, representing approximately 0.13%
of the Issued and Outstanding Units. As the general partner of each of Alpine
Associates, A Limited Partnership, Alpine Partners, L.P. and Alpine Associates
II, L.P., Eckert Corporation may be deemed to beneficially own the 243,100 Units
owned by Alpine Associates, A Limited Partnership, the 33,100 Units owned by
Alpine Partners, L.P. and the 17,500 Units owned by Alpine Associates II, L.P.,
representing an aggregate of 293,700 shares, constituting approximately 3.42% of
the Issued and Outstanding Units. As the sole stockholder and director of Eckert
Corporation, Ms. Eckert may be deemed to beneficially own the 243,100 Units
owned by Alpine Associates, A Limited Partnership, the 33,100 Units owned by
Alpine Partners, L.P. and the 17,500 Units owned by Alpine Associates II, L.P.,
representing an aggregate of 293,700 shares, constituting approximately 3.42% of
the Issued and Outstanding Units. As the general partner of Palisades Partners,
L.P., Mr. Uehling may be deemed to beneficially own the 11,000 Units owned by
Palisades Partners, L.P., representing approximately 0.13% of the Issued and
Outstanding Units. Pursuant to investment advisory agreements with each of
Alpine Associates II, L.P. and Palisades Partners, L.P. further described in
Item 5(b) below, Arbitrage & Trading Management Company may be deemed to
beneficially own the 17,500 Units owned by Alpine Associates II, L.P. and the
11,000 Units owned by Palisades Partners, L.P., representing an aggregate of
28,500 Units, constituting approximately 0.33% of the Issued and Outstanding
Units. As the owner and operator of Arbitrage & Trading Management Company, Mr.
Zoellner may be deemed to beneficially own the 17,500 Units owned by Alpine
Associates II, L.P. and the 11,000 Units owned by Palisades Partners, L.P.,
representing an aggregate of 28,500 Units, constituting approximately 0.33% of
the Issued and Outstanding Units. Eckert Corporation, Ms. Eckert, Mr. Uehling,
Arbitrage & Trading Management Company and Mr. Zoellner disclaim beneficial
ownership of any such Units except to the extent of their pecuniary interest
therein.
(b) Each of the Reporting Entities may be deemed to have sole voting and
dispositive power over the Units reported as beneficially owned by such person
by virtue of their respective positions as described in paragraph (a), except as
follows:
(1) Pursuant to an investment advisory agreement between Alpine
Associates II, L.P. and Arbitrage & Trading Management
Company, Arbitrage & Trading Management Company acts as an
investment advisor to Alpine Associates II, L.P. and has
the discretion to manage its investment activities. As a
result, the 17,500 Units owned by Alpine Associates II,
L.P. that may be deemed to be beneficially owned by Eckert
Corporation and Ms. Eckert may also be deemed to be
beneficially owned by Arbitrage & Trading Management
Company and Mr. Zoellner. Therefore, each of Eckert
Corporation, Ms. Eckert, Arbitrage & Trading Management
Company and Mr. Zoellner may be deemed to have shared
voting and dispositive power with respect to such Units.
(2) Pursuant to an investment advisory agreement between
Palisades Partners, L.P. and Arbitrage & Trading Management
Company, Arbitrage & Trading Management Company acts as an
investment advisor to Palisades Partners, L.P. and has the
discretion to manage its investment activities. As a
result, the 11,000 Units owned by Palisades Partners, L.P.
that may be deemed to be beneficially owned by Mr. Uehling
may also be deemed to be beneficially owned by Arbitrage &
Trading Management Company and Mr. Zoellner. Therefore,
each of Mr. Uehling, Arbitrage & Trading Management Company
and Mr. Zoellner may be deemed to have shared voting and
dispositive power with respect to such Units.
Except as set forth above, each of the Reporting Entities may be deemed to
have sole voting and dispositive power with respect to the Units each reports as
beneficially owned by such person, regardless of the fact that multiple
Reporting Entities within the same chain of ownership report sole voting and
dispositive power with respect to such Units. Each such Reporting Entity reports
sole voting and dispositive power with respect to such Units based on such
person's relationship to the other Reporting Entities within the same chain of
ownership. Except to the extent expressly stated herein, each Reporting Entity
disclaims beneficial ownership of any Units beneficially owned by any other
Reporting Entity.
The Reporting Entities do not believe that certain of the foregoing
information is called for by the Items of Schedule 13D and are disclosing it for
supplemental informational purposes only. Information with respect to each of
the Reporting Entities is given solely by such Reporting Entity and no Reporting
Entity shall have responsibility for the accuracy or completeness of information
supplied by another Reporting Entity.
(c) No person identified in Item 2 hereof has effected any transaction
in Units during the 60 days preceding the date hereof, except to the extent
disclosed herein.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understanding or Relationships With Respect
to Securities of the Issuer.
----------------------------
Alpine Associates, A Limited Partnership and its affiliates, on the one
hand, and Barington Capital Group, L.P. and its affiliates, on the other hand,
have agreed to work together as a group in connection with their investment in
the Trust and share on a pro-rata basis any expenses incurred in connection
therewith. A definitive agreement between the parties with respect to the
foregoing has not yet been formalized.
Certain of the Reporting Entities are party to an agreement with Holbrook
Partners pursuant to which Holbrook is entitled to receive fees as well as
certain additional compensation with respect to any profits the Reporting
Entities may derive from their investment in the Units of the Trust.
Arbitrage & Trading Management Company also manages the investment
activities of two investment funds and a managed account. Such entities have
entered into swap agreements that relate for measurement purposes to a total of
19,600 Units. While neither Arbitrage & Trading Management Company nor any of
such other entities has discretion to dispose of or vote Units in connection
with such swap agreements, any increase or decrease in the value of the Units
will result in such entities experiencing a gain or loss, respectively, pursuant
to such swap agreements.
Barington Companies Advisors, LLC is compensated for its services as the
general partner of Barington Investments, L.P. by an affiliate of Millennium
Partners, L.P., the limited partner, pursuant to a separate agreement.
Item 7. Material to be Filed as Exhibits.
---------------------------------
Exhibit Exhibit Description
-------------------------------------------------------------------------------
99.1 Agreement of Joint Filing among Barington Companies Equity
Partners, L.P., Barington Companies Investors, LLC, Barington
Companies Offshore Fund, Ltd. (BVI), Barington Investments,
L.P., Barington Companies Advisors, LLC, Barington Capital
Group, L.P., LNA Capital Corp., James Mitarotonda, Alpine
Associates, A Limited Partnership, Alpine Partners, L.P.,
Alpine Associates II, L.P., Palisades Partners, L.P., Eckert
Corporation, Victoria Eckert, Gordon A. Uehling, Jr.,
Arbitrage & Trading Management Company and Robert E. Zoellner,
dated November 23, 2005.
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SIGNATURES
----------
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: November 23, 2005
BARINGTON COMPANIES EQUITY PARTNERS,
L.P.
By: Barington Companies Investors,
LLC, its general partner
By: /s/ James A. Mitarotonda
---------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES INVESTORS, LLC
By: /s/ James A. Mitarotonda
---------------------------------
Name: James A. Mitarotonda
Title: Managing Member
/s/ James A. Mitarotonda
-------------------------------------
James A. Mitarotonda
BARINGTON COMPANIES OFFSHORE FUND,
LTD. (BVI)
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Manager
BARINGTON INVESTMENTS, L.P.
By: Barington Companies Advisors,
LLC, its general partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON COMPANIES ADVISORS, LLC
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON CAPITAL GROUP, L.P.
By: LNA Capital Corp., its general
partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and CEO
LNA CAPITAL CORP.
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and CEO
ALPINE ASSOCIATES, A LIMITED
PARTNERSHIP
By: Eckert Corporation, its general
partner
By: /s/ Todd Mason
-------------------------------
Name: Todd Mason
Title: Vice President
ALPINE PARTNERS, L.P.
By: Eckert Corporation, its general
partner
By: /s/ Todd Mason
--------------------------------
Name: Todd Mason
Title: Vice President
ALPINE ASSOCIATES II, L.P.
By: Eckert Corporation, its general
partner
By: /s/ Todd Mason
--------------------------------
Name: Todd Mason
Title: Vice President
PALISADES PARTNERS, L.P.
By: /s/ Gordon A. Uehling, Jr.
--------------------------------
Name: Gordon A. Uehling, Jr.
Title: General Partner
ECKERT CORPORATION
By: /s/ Todd Mason
--------------------------------
Name: Todd Mason
Title: Vice President
/s/ Victoria Eckert
------------------------------------
Victoria Eckert
/s/ Gordon A. Uehling, Jr.
------------------------------------
Gordon A. Uehling, Jr.
ARBITRAGE & TRADING MANAGEMENT COMPANY
By: /s/ Robert E. Zoellner
--------------------------------
Name: Robert E. Zoellner
Title: President
/s/ Robert E. Zoellner
------------------------------------
Robert E. Zoellner
SCHEDULE I
Directors and Officers of Barington Companies Offshore Fund, Ltd. (BVI)
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
James A. Mitarotonda Chairman of Barington 888 Seventh Avenue
Director and President Capital Group, L.P. 17th Floor
New York, NY 10019
Sebastian E. Cassetta Executive Vice President 888 Seventh Avenue
Director and Chief Operating Officer 17th Floor
of Barington Capital New York, NY 10019
Group, L.P.
Edith Conyers General Manager of Forum Washington Mall 1,
Director Fund Services, Ltd. 3rd Flr.
22 Church Street
Hamilton HM11, Bermuda
Graham Cook Director/Manager, Corporate Bison Court
Director Services of Byson Financial P.O. Box 3460
Services, Ltd. Road Town, Tortola
British Virgin Islands
Forum Fund Services, Ltd. Fund Administration Washington Mall 1,
Secretary 3rd Flr.
22 Church Street
Hamilton HM11, Bermuda
Melvyn Brunt Chief Financial Officer 888 Seventh Avenue
Treasurer of Barington Capital 17th Floor
Group, L.P. New York, NY 10019
SCHEDULE II
Officers of LNA Capital Corp.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
James A. Mitarotonda Chairman of Barington 888 Seventh Avenue
President and CEO Capital Group, L.P. 17th Floor
New York, NY 10019
Sebastian E. Cassetta Executive Vice President 888 Seventh Avenue
Secretary and Chief Operating 17th Floor
Officer of Barington New York, NY 10019
Capital Group, L.P.
Melvyn Brunt Chief Financial Officer of 888 Seventh Avenue
Treasurer Barington Capital Group, 17th Floor
L.P. New York, NY 10019
SCHEDULE III
Officers of Eckert Corporation
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
Victoria Eckert President of Eckert 100 Union Avenue
President Corporation Cresskill, NJ 07626
Todd Mason Vice President of Eckert 100 Union Avenue
Vice President and Corporation Cresskill, NJ 07626
Secretary
Frank Fiorello Vice President of Eckert 100 Union Avenue
Vice President Corporation Cresskill, NJ 07626
Thomas Kennedy Vice President of Eckert 100 Union Avenue
Vice President Corporation Cresskill, NJ 07626
Gerald Post Vice President of Eckert 100 Union Avenue
Vice President Corporation Cresskill, NJ 07626
SCHEDULE IV
This schedule sets forth information with respect to each purchase of
Units which was effectuated by a Reporting Entity during the past 60 days. All
transactions were effectuated in the open market through a broker.
Units purchased by Barington Companies Equity Partners, L.P.
Number of
Date Units Price Per Unit Cost(*)
---- --------- -------------- -----------
11/3/2005 2,480 $6.893 $17,094.64
11/4/2005 1,400 $6.856 $9,598.40
11/7/2005 5,800 $6.732 $39,045.60
11/8/2005 3,600 $6.754 $24,314.40
11/9/2005 3,080 $6.809 $20,971.72
11/10/2005 6,680 $6.849 $45,751.32
11/11/2005 9,960 $6.927 $68,992.92
11/14/2005 9,720 $6.985 $67,894.20
11/15/2005 560 $7.024 $3,933.44
11/16/2005 1,920 $7.100 $13,632.00
11/17/2005 13,000 $7.243 $94,159.00
11/18/2005 2,520 $6.987 $17,607.24
Units purchased by Barington Companies Offshore Fund, Ltd.
Number of
Date Units Price Per Unit Cost(*)
---- --------- --------------- -----------
11/3/2005 1,860 $6.893 $12,820.98
11/4/2005 1,050 $6.856 $7,198.80
11/7/2005 4,350 $6.732 $29,284.20
11/8/2005 2,700 $6.754 $18,235.80
11/9/2005 2,310 $6.809 $15,728.79
11/10/2005 5,010 $6.849 $34,313.49
11/11/2005 7,470 $6.927 $51,744.69
11/14/2005 7,290 $6.985 $50,920.65
11/15/2005 420 $7.024 $2,950.08
11/16/2005 1,440 $7.100 $10,224.00
11/17/2005 9,750 $7.243 $70,619.25
11/18/2005 1,890 $6.987 $13,205.43
Units purchased by Barington Investments, L.P.
Number of
Date Units Price Per Unit Cost(*)
---- --------- --------------- -----------
11/3/2005 1,860 $6.893 $12,820.98
11/4/2005 1,050 $6.856 $7,198.80
11/7/2005 4,350 $6.732 $29,284.20
11/8/2005 2,700 $6.754 $18,235.80
11/9/2005 2,310 $6.809 $15,728.79
11/10/2005 5,010 $6.849 $34,313.49
11/11/2005 7,470 $6.927 $51,744.69
11/14/2005 7,290 $6.985 $50,920.65
11/15/2005 420 $7.024 $2,950.08
11/16/2005 1,440 $7.100 $10,224.00
11/17/2005 9,750 $7.243 $70,619.25
11/18/2005 1,890 $6.987 $13,205.43
Units purchased by Alpine Associates, A Limited Partnership
Number of
Date Units Price Per Unit Cost(*)
---- --------- -------------- -----------
10/11/2005 20,900 $6.6507 $138,999.63
10/12/2005 1,600 $6.7069 $10,731.04
10/12/2005 9,300 $6.6262 $61,623.66
10/13/2005 4,900 $6.5635 $32,161.15
10/13/2005 11,700 $6.5582 $76,730.94
10/14/2005 5,400 $6.6656 $35,994.24
10/19/2005 17,800 $6.5674 $116,899.72
10/20/2005 10,000 $6.6900 $67,100.00
10/20/2005 37,200 $6.7060 $249,463.20
10/20/2005 14,500 $6.6929 $97,047.05
10/21/2005 15,900 $6.6511 $105,752.49
10/21/2005 13,300 $6.6500 $88,445.00
10/24/2005 7,000 $6.7500 $47,250.00
10/24/2005 1,800 $6.7343 $12,121.74
10/25/2005 1,000 $6.7000 $6,700.00
10/25/2005 32,500 $6.6988 $217,711.00
10/26/2005 6,800 $6.7791 $46,097.88
10/26/2005 500 $6.7000 $3,350.00
10/31/2005 5,400 $6.7848 $36,637.92
10/31/2005 4,000 $6.7484 $26,993.60
11/1/2005 10,000 $6.7627 $67,627.00
11/2/2005 7,400 $6.7957 $50,288.18
11/2/2005 4,200 $6.7783 $28,468.86
Units purchased by Alpine Partners, L.P.
Number of
Date Units Price Per Unit Cost(*)
---- --------- -------------- ----------
10/14/2005 4,000 $6.6400 $26,560.00
10/19/2005 4,000 $6.5482 $26,192.80
10/20/2005 5,000 $6.6900 $33,550.00
10/20/2005 5,100 $6.6929 $34,133.79
10/21/2005 4,000 $6.6500 $26,600.00
10/24/2005 1,200 $6.7343 $8,081.16
10/25/2005 4,600 $6.6988 $30,814.48
10/26/2005 900 $6.7000 $6,030.00
10/31/2005 1,300 $6.7484 $8,772.92
11/1/2005 1,400 $6.7627 $9,467.78
11/2/2005 1,600 $6.7783 $10,845.28
Units purchased by Alpine Associates II, L.P.
Number of
Date Units Price Per Unit Cost(*)
---- --------- -------------- ----------
10/14/2005 3,000 $6.6400 $19,920.00
10/19/2005 2,000 $6.5482 $13,096.40
10/20/2005 4,600 $6.6929 $30,787.34
10/21/2005 2,100 $6.6500 $13,965.00
10/24/2005 600 $6.7343 $4,040.58
10/25/2005 2,400 $6.6988 $16,077.12
10/26/2005 500 $6.7000 $3,350.00
10/31/2005 700 $6.7484 $4,723.88
11/1/2005 700 $6.7627 $4,733.89
11/2/2005 900 $6.7783 $6,100.47
Units purchased by Palisades Partners, L.P.
Number of
Date Units Price Per Unit Cost(*)
---- --------- -------------- -----------
10/14/2005 1,200 $6.6400 $7,968.00
10/19/2005 1,700 $6.5482 $11,131.94
10/20/2005 3,200 $6.6929 $21,417.28
10/21/2005 1,300 $6.6500 $8,645.00
10/24/2005 400 $6.7343 $2,693.72
10/25/2005 1,500 $6.6988 $10,048.20
10/26/2005 300 $6.7000 $2,010.00
10/31/2005 400 $6.7484 $2,699.36
11/1/2005 500 $6.7627 $3,381.35
11/2/2005 500 $6.7783 $3,389.15
----------
(*) Excludes commissions and other execution-related costs.