UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
American Superconductor Corporation
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
030111108
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(CUSIP Number)
George W. Lloyd
Testa, Hurwitz & Thibeault, LLP
High Street Tower
125 High Street
Boston, MA 02110
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 7, 1997
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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 [ ].
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.
Page 1 of 8 Pages
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 2 of 8 Pages |
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| |
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| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | CHARTH (Compagnie Holding d'Applications et de |
| | Realisations Thermiques et Hydrauliques) S.A. |
|---------|------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]|
| | (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 |
| | |
| | France |
|----------------|-----|-----------------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | |
| | | 1,000,000 |
| |-----|-----------------------------------------------------|
| NUMBER OF | 8 | SHARED VOTING POWER |
| SHARES | | |
| BENEFICIALLY | | -0- |
| OWNED BY |-----|-----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | |
| PERSON | | 1,000,000 |
| WITH |-----|-----------------------------------------------------|
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
| | | -0- |
|----------------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,000,000 |
|---------|------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ] |
| | EXCLUDES CERTAIN SHARES* |
| | |
|---------|------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 8.6% |
|---------|------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | |
| | CO |
|----------------------------------------------------------------------------|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 3 of 8 Pages |
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Item 1. Security and Issuer
This statement on Schedule 13D relates to the Common Stock, $.01 par
value per share (the "Common Stock"), of American Superconductor, a Delaware
corporation (the "Issuer"). The principal executive offices of the Issuer are
located at Two Technology Drive, Westborough, MA 01581.
Item 2. Identity and Background
(i) This statement is being filed by CHARTH (Compagnie Holding
D'Applications et De Realisations Thermiques et Hydrauliques) S.A., a
corporation organized under the laws of France ("CHARTH"). CHARTH is a
wholly-owned subsidiary of Electricite de France, S.A., a corporation organized
under the laws of France ("EDF").
(ii) The address of the principal office and principal business of
CHARTH is 57 F.D. Roosevelt, Paris, France 75008. The address of the principal
office and principal business of EDF is 2 rue Louis Murat, Paris, France 75383.
(iii) The EDF is a large French electricity utility corporation and is
principally engaged in the production and distribution of electricity in France.
CHARTH is a holding company for investments in companies developing new
applications and technology of relevance to the electricity industry.
(iv) Set forth in Schedule I and Schedule II is the name and present
principal occupation or employment and the name, principal business and address
of any corporation or other organization in which such employment is conducted,
of each of the directors and executive officers of CHARTH and EDF, respectively,
as of the date hereof.
(v) During the past five years, none of CHARTH, EDF, and, to the best
knowledge of CHARTH and EDF, any person named in Schedule I to this Schedule 13D
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(vi) During the past five years, none of CHARTH, EDF, and, to the best
knowledge of CHARTH and EDF, any person named in Schedules I and II to this
Schedule 13D, was a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction as a result of which such person was or is
subject to a judgment, decree or final order enjoining future violations of or
prohibiting or mandating activity subject to Federal or state securities laws or
finding any violation with respect to such laws.
(vii) All of the directors and executive officers of CHARTH named in
Schedule I are citizens of France and all of the directors and executive
officers of EDF named in Schedule II are citizens of France.
Item 3. Source and Amount of Funds or Other Consideration
On April 1, 1997, the Issuer and CHARTH entered into a Strategic
Alliance Agreement (the "Strategic Alliance Agreement"), pursuant to which
CHARTH agreed to make an equity investment of $10,000,000 in the Issuer in
return for 1,000,000 shares of Common Stock. The purchase price for this
investment was paid out of the available cash of CHARTH.
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 4 of 8 Pages |
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Item 4. Purpose of Transaction
As described more fully in Item 3 above, this statement relates to the
acquisition of 1,000,000 shares of Common Stock by the CHARTH. Pursuant to the
Strategic Alliance Agreement, the Issuer agreed to increase the number of
members of the Issuer's Board of Directors by one, and that an individual
designated by CHARTH be elected to serve on the Board. The Issuer and CHARTH
have also agreed to establish an advisory board, to be comprised of three
members from each of the Issuer and CHARTH, to exchange information regarding
the electricity market.
Pursuant to the Strategic Alliance Agreement, CHARTH has been granted
certain registration rights relating to the Common Stock held by CHARTH. In
addition, CHARTH has agreed not to acquire, directly or indirectly any voting
securities, if after such acquisition, CHARTH would own of record or
beneficially in the aggregate more than 12% of the voting securities of the
Issuer. The shares of Common Stock acquired by CHARTH have been acquired for the
purpose of making an investment in the Issuer and not with the present intention
of acquiring control of the Issuer's business.
CHARTH intends from time to time intend to review its investment in the
Issuer on the basis of various factors, including the Issuer's business,
financial condition, results of operations and prospects, general economic and
industry conditions, the securities markets in general and those for the
Issuer's securities in particular, as well as other developments and other
investment opportunities. Based upon such review, CHARTH will take such actions
in the future as CHARTH may deem appropriate in light of the circumstances
existing from time to time. If CHARTH believes that further investment in the
Issuer is attractive, whether because of the market price of the Issuer's
securities or otherwise, they may acquire shares of Common Stock or other
securities of the Issuer either in the open market or in privately-negotiated
transactions. Similarly, depending on market and other factors, CHARTH may
determine to dispose of some or all of the Common Stock currently owned by
CHARTH or otherwise acquired by CHARTH either in the open market or in privately
negotiated transactions.
Except as stated above, CHARTH, EDF and all those listed on Schedules I
and II have no present plans 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 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;
(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;
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 5 of 8 Pages |
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(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 Securities Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a) Amount Beneficially Owned:
CHARTH beneficially owns 1,000,000 shares of Common Stock.
Percent of Class:
Based on shares outstanding as of June 20, 1997, CHARTH owns
8.6% of the outstanding Common Stock.
(b) Number of shares as to which CHARTH has:
(i) sole power to vote or direct the vote: 1,000,000
shares
(ii) shared power to vote or direct the vote: Not
applicable.
(iii) sole power to dispose or to direct the disposition
of: 1,000,000 shares
(iv) shared power to dispose or to direct the disposition
of: Not applicable.
(c) Except as set forth in Item 3 herein, none of CHARTH, EDF, and, to
the best knowledge of CHARTH and EDF, any person named in Schedules I and II,
has affected any transaction in the Common Stock during the past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
Except as described in Item 4 above, to CHARTH and EDF's knowledge,
there are no contracts, arrangements, understandings or relationships (legal or
otherwise) among the persons named in Item 2 and between such persons and any
person with respect to any securities of the Issuer, including but not limited
to transfer or voting of any of the securities, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
Item 7. Material to Be Filed as Exhibits
The Strategic Alliance Agreement dated April 1, 1997 between the Issuer
and CHARTH is incorporated by reference to the Exhibits to the Issuer's Annual
Report on Form 10-K filed with the Securities and Exchange Commission on June
30, 1997.
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 6 of 8 Pages |
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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
current.
Date: October 16, 1997 CHARTH (COMPAGNIE HOLDING
D'APPLICATIONS ET DE REALISATIONS
THERMIQUES ET HYDRAULIQUES) S.A.
By: /s/ Alain Bertay
-------------------------------
Name: Alain Bertay
Title: Chief Executive Officer
SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 7 of 8 Pages |
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SCHEDULE I
Executive Officers and Directors
of
CHARTH (Compagnie Holding d'Applications et de
Realisations Thermiques et Hydrauliques) S.A
Name and Address of Corporation or Other
Name Principal Occupation or Employment Organization in Which Employed
- ------------------------------ ---------------------------------- ----------------------------------------
Paul Godin Chairman Electricite de France
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Alain Bertay Chief Executive Officer Electricite de France
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Yves Cousin Administrator Electricite de France
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Christian Gitiaux Administrator Electricite de France
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Bernard Esteve Administrator Electricite de France
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Jean-Paul Brugnot Administrator Electricite de France
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Jean-Pierre Benque Administrator Electricite de France
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Jacques Masson Administrator Electricite de France
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Alain Genel Administrator Electricite de France
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Vincent de Rivaz Administrator Electricite de France
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Jacques Chauvin Administrator Electricite de France
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SCHEDULE 13D
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|CUSIP No. 030111108 | | Page 8 of 8 Pages |
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SCHEDULE II
Conseil D'Administration
of
Electricite de France, S.A.
Name and Address of Corporation or Other
Name Principal Occupation or Employment Organization in Which Employed
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Edmond Alphandery President Electricite de France
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Francois Ailleret Administrator Electricite de France
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Christophe Blanchard-Dignac Administrator Ministere de l'Economie,
- ------------------------------ des Finances et de l'Industrie
Pascale Bochard Administrator Orgeco
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Jean-Pierre Cremona Administrator Electricite de France
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Yannick d'Escatha Administrator Commissariat a l'Energie Atomique
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Henri Guaino Administrator Commisariat au Plan
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Jochen Holzer Administrator VIAG et Bayenwerk
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Anne Le Lorier Administrator Ministere de l'Economie,
- ------------------------------ des Finances et de l'Industrie
Jean-Marc Mauchauffee Administrator Electricite de France
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Alain Martin Administrator Electricite de France
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Francis Mer Administrator Usinor
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Robert Pantaloni Administrator Electricite de France
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Alain Pluchet Administrator Retraite
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Jean Renard Administrator Retraite
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Francois Rey Administrator Retraite
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Christine Saincy Administrator Electricite de France
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Serge Terrier Administrator Electricite de France
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