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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Royalty Holdings LLC
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(Last) (First) (Middle)
c/o Hyde Park Holdings
595 Madison Avenue
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(Street)
New York New York 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Regency Affiliates, Inc. (RAFI.OB)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Day/Year
4/29/03 and 4/30/03
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
|X| Director |X| 10% Owner
|X| Officer (give title below) |_| Other (specify below)
Mr. Levy is the President and Chief Executive Officer of the Issuer.
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7. Individual or Joint/Group Filing (Check Applicable Line)
|_| Form filed by One Reporting Person
|X| Form filed by More than One Reporting Person
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(Over)
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
2A. 3. Disposed of (D) Beneficially Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Owned Following Direct Nature of
Transaction Execution Code -------------------------- Reported (D) or Indirect
1. Date Date, if any (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security (Month/Day/ (Month/Day/ ----------- or (Instr. 3 (I) Ownership
(Instr. 3) Year) Year) Code V Amount (D) Price and 4) (Instr.4) (Instr. 4)
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Common Stock 4/29/03 P 14,000 A $5.30 (1) (1)
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Common Stock 4/30/03 P 22,000 A $5.43 786,000 (1) (1)
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(Over)
FORM 4 (continued)
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9.
Number 10.
of Owner-
7. Deriv- ship
2. 5. Title and ative Form of
Conver- Number of Amount of Secur- Deriv- 11.
sion Derivative Underlying ities ative Nature
or 3A. Securities 6. Securities 8. Bene- Secur- of
Exer- Deemed 4. Acquired Date (Instr. 3 Price ficially ities: In-
cise 3. Execu- Trans- (A) or Exercisable and and 4) of Owned Direct direct
Price Trans- tion action Disposed Expiration Date ------------- Deriv- Following (D) or Bene-
1. of action Date, Code of (D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secur- Transac- direct Owner-
Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity tion(s) (I) ship
Security Secur- Day/ Day/ ------ ---------- Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Explanation of Responses:
(1) This statement is filed as a joint report pursuant to Rule 16a-3(j)
promulgated under the Securities Exchange Act of 1934 (the "Act") by
Royalty Holdings LLC ("Holdings"), Royalty Management, Inc. ("Management")
and Laurence S. Levy. The transactions reported herein were effectuated by
Holdings. As the manager of Holdings, Management may be deemed to
beneficially own all securities held by Holdings for purposes of Section
13(d) of the Act. In addition, as President, sole director and sole
stockholder of Management, Mr. Levy may be deemed to beneficially own all
securities held by Holdings for purposes of Section 13(d) of the Act. Mr.
Levy disclaims beneficial ownership of such securities for purposes of
Section 16 of the Act to the extent in excess of his pecuniary interest
therein. Management does not beneficially own any securities of the Issuer
for purposes of Section 16 of the Act.
Royalty Holdings LLC
By: Royalty Management, Inc., its Manager
By: /s/ Laurence S. Levy
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Name: Laurence S. Levy
Title: President
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Persons who respond to the collection of information contained in this
form are not required to respond unless the form displays a currently
valid OMB control number.
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Page 2
Joint Filer Information
Names: Laurence S. Levy and Royalty Management, Inc.
Address: c/o Hyde Park Holdings, Inc.
595 Madison Avenue, 35th Floor
New York, New York 10022
Designated Filer: Royalty Holdings LLC
Issuer and Ticker Symbol: Regency Affiliates, Inc. (RAFI.OB)
Date of Event Requiring Statement: 4/29/03 and 4/30/03
The undersigned, Laurence S. Levy and Royalty Management, Inc., are jointly
filing the attached Statement of Changes In Beneficial Ownership on Form 4 with
Royalty Holdings LLC with respect to the beneficial ownership of securities of
Regency Affiliates, Inc.
ROYALTY MANAGEMENT, INC.
By: /s/ Laurence S. Levy /s/ Laurence S. Levy
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Name: Laurence S. Levy Laurence S. Levy
Title: President