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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.....) *
TRANSACT TECHNOLOGIES INCORPORATED
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
892918103
(CUSIP Number)
SILVERMAN, COLLURA, CHERNIS & BALZANO, P.C., 381 Park Avenue South Suite 1601,
NY, NY 10016 Attn: Peter R. Silverman (212) 779-8600
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
JULY 25, 1997
(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 [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-l(a) 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. The information required on the
remainder of this cover page shall not be deemed to be "filed" for the purpose
of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).
CUSIP No. 892918103
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of
Above Persons
Jack Silver
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
(b) N/A
3) SEC Use Only
4) Source of Funds AF PF OO
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
6) Citizenship or Place of Organization U.S.A.
Number of Shares (7) Sole Voting Power 588,029 Common Shares(1)
Beneficially
Owned by Each (8) Shared Voting Power N/A
Reporting Person
With
(9) Sole Dispositive Power 588,029 Common Shares(1)
(10) Shared Dispositive Power N/A
11) Aggregate Amount Beneficially Owned by Each Reporting Person
588,029 Common Shares
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares N/A
13) Percent of Class Represented by Amount in Row (11) 8.7%
14) Type of Reporting Person IN
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1 See Item 5, Infra.
Item 1. Security and Issuer
a. The title of the class of equity securities to which this statement
relates is Common Stock
b. The name and address of the principal executive officers of the issuer
of such securities is
Transact Technologies, Inc., 7 Laser Lane, Wallingford, CT 06492
Item 2. Identity and Background
(a) Jack Silver
(b) 660 Madison Avenue, 15th Floor, New York, NY 10021
(c) Investor - Sherleigh Associates, 660 Madison Avenue, 15th Floor, New
York, New York 10021
(d) During the last five years, I have not been convicted in a criminal
proceeding.
(e) During the last five years I have not been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction
and I am not subject to a judgment, decree or final order enjoining
violations of, or prohibiting or mandating activities subject to federal or
state securities laws or finding of any violation with respect to such
laws.
(f) U.S.A.
Item 3. Source and Amount of Funds or Other Consideration
The purchase price for the shares referenced in Item 5(a) is $1,472,533
The source of the funds used to purchase these securities were funds of the
Affiliates as set forth in Item 5(c). Purchases for the account of Jack
Silver were made through a margin account with Generic Trading, Inc.
Item 4. The Purpose of Transaction
The purpose or purposes of the acquisition of securities of the issuer is
investment.
I have no plans or proposals which relate to or would result in
(a) The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
(c) A sale or transfer of a material amount of assets of the issuer or any
of its subsidiaries;
(d) Any change in the present board of directors or management of the
management of the issuer, including any plans or proposals to change the
number or term of directors or to fill any existing vacancies on the board.
(e) Any material change in the present capitalization or dividend policy
of the issuer;
(f) Any other material change in the issuer's business or corporate
structure, including but not limited to, if the issuer is as registered
closed-end investment company, any plans or proposals to make any changes
in its investment policy for which a vote is required by section 13 of the
Investment Company Act of 1940;
(g) Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
issuer by any person;
(h) Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted in
an inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number and percentage of the class of securities
identified pursuant to Item 1 beneficially owned by me are as follows:
SHARES %
------ ----
(1) Jack Silver 215,132 36.6%
(2) Jack Silver and Shirley Silver Foundation 5,025 .8%
(3) Shirley Silver (my wife) as custodian for
Leigh Silver (my child) 10,050 1.7%
(4) Shirley Silver (my wife) as custodian for
Romy Silver (my child) 10,050 1.7%
(5) Shirley Silver Trust for Leigh Silver 17,536 2.9%
(6) Shirley Silver Trust for Romy Silver 17,536 2.9%
(6) Sherleigh Associates 20,100 3.4%
(7) Sherleigh Associates, Inc. Profit Sharing Plan 230,350 39.2%
(8) Sherleigh Associates, Inc. Defined Benefit Pension 62,250 10.6%
(b) The above referenced record owners have given me the sole power to
vote or to direct the vote of the above stated shares; there is no shared power
to vote or to direct the vote of the above stated shares; the above referenced
record owners have given me the sole power to dispose or to direct the
disposition of the above stated shares; there is no shared power to dispose or
to direct the disposition of the above stated shares.
(c) The following is a description of any transaction in the class of
securities reported on that were affected during the past 60 days or since the
most recent filing on Schedule 13D, whichever is less, by myself:
(1) Sherleigh Associates Profit Sharing Plan:
Purchased 6,000 Shares at $12.00 per share = $ 72,000.00
The foregoing transactions were consummated via brokerage transactions
which occurred in the 60 day period predating this filing.
(d) There is no other person known to have the right to receive or the
power to direct the receipt of dividends from or proceeds from the sale of such
securities.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) among myself and between such persons and any person with
respect to any securities of the issuer including but not limited to transfer of
voting of any of the securities, finders fees, joint ventures, loan or option
arrangements, put or calls, guarantees of profits, division of profits or loss,
or the giving or holding of proxies, naming the persons with whom such
contracts, arrangements, understandings or relationships have been entered into
and this includes such information for any of the securities that are pledged or
otherwise subject to a contingency the occurrence of which would give another
person voting power or investment payor over such securities.
Item 7. Material to be Filed as Exhibits.
N/A
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.
July 30, 1997
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Date
/s/ JACK SILVER
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Signature
JACK SILVER
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Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U. S. C. 1001).