SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Frequency Electronics, Inc.
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(Name of Issuer)
Shares of Common Stock
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(Title of Class of Securities)
358010106
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(CUSIP Number)
Michael S. Paquette
Vice President and Controller
Fund American Enterprises Holdings, Inc.
The 1820 House,
Main Street,
Norwich, Vermont 05055-0850
(802) 649-3633
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 18, 1995
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box _____.
Check the following box if a fee is being paid with this statement _____.
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class. See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
CUSIP NO. 358010106
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises Holdings, Inc.
94-2708455
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned -----------------
by Each Reporting
Person With (8) Shared Voting Power
-------------------
521,850
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
521,850
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
521,850
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 10.4%
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(14) Type of Reporting Person (See Instructions) HC, CO
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CUSIP NO. 358010106
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises, Inc.
51-0328932
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
- --------------------------------------------------------------------------------
(3) SEC Use Only
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(4) Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
--------
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Number of Shares (7) Sole Voting Power
Beneficially Owned -----------------
by Each Reporting
Person With (8) Shared Voting Power
-------------------
521,850
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
521,850
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
521,850
- --------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) Approximately 10.4%
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(14) Type of Reporting Person (See Instructions) CO
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ONLY ITEMS REPORTED IN THIS AMENDMENT NO. 2 TO SCHEDULE 13D ARE AMENDED FROM THE
FILING ON SCHEDULE 13D FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JUNE
29, 1992, AS AMENDED BY AMENDMENT NO. 1 DATED MARCH 31, 1995. ALL OTHER ITEMS
REMAIN UNCHANGED. UNLESS OTHERWISE SPECIFIED, ALL DEFINED TERMS USED HEREIN HAVE
THE MEANING PREVIOUSLY ASCRIBED TO THEM IN THE SCHEDULE 13D.
Item 4. Purpose of Transaction.
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(a) Sales by FAE outlined in Schedule II, attached hereto, and
incorporated herein by reference, were made in the ordinary course of business
and not for the purpose or effect of changing or influencing the control of FEI
or in connection with, or as a participant in, any transaction having such
purpose or effect.
Item 5. Interest in Securities of the Issuer.
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(a) FAEH owns all 521,850 Shares indirectly through FAE. The
aggregate number of Shares and the corresponding percentage of the outstanding
Shares such number represents is as follows:
Percentage of
Shares Shares
Beneficially Beneficially
Person Owned Owned
------ ------------ -------------
FAEH 521,850 10.4%
FAE 521,850 10.4%
(b) FAEH shares voting power and dispositive power with respect to
the 521,850 Shares with FAE.
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(c) Schedule II, attached hereto, describes all transactions by FAEH and
FAE, or to the knowledge of FAEH and FAE, any of the persons listed on Schedule
I, in Shares effected during the past 60 days.
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: September 27, 1995
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
BY: Michael S. Paquette
--------------------------------
Name: Michael S. Paquette
Title: Vice President and
Controller
FUND AMERICAN ENTERPRISES, INC.
BY: Terry L. Baxter
---------------------------------
Name: Terry L. Baxter
Title: President and Secretary
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SCHEDULE II TO SCHEDULE 13D
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Sales of Shares of Common Stock of Frequency Electronics, Inc. by the
Reporting Persons and by persons listed in Schedule I within the last 60 days.
Sold by Date Number Sold Unit Price
------- ----- ----------- ----------
FAE 9/14/95 5,000 4.5350
FAE 9/18/95 22,200 4.8176
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