SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
AUDIOVOX CORPORATION
(Name of Issuer)
Common Stock, Par Value, $0.01 Per Share
(Title of Class of Securities)
050757103
(CUSIP Number)
Stephen M. Davis, Esq.
Werbel & Carnelutti
A Professional Corporation
711 Fifth Avenue, New York, New York 10022, (212) 832-8300
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
April 22, 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 13-d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the 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.
* 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 purposes 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).
Page 1 of 16
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 2 of 16 Pages
- ------------------- ------------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
The SC Fundamental Value Fund, L.P.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
712,745
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
712,745
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
712,745
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 3 of 16 Pages
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Value BVI, Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- ------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
377,255
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
0
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
377,255
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
377,255
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.9%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 4 of 16 Pages
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
712,745
- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
712,745
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
712,745
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 5 of 16 Pages
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Siegler, Collery & Co. Employees' Savings and Profit Sharing Plan
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
13,500
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,500
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,500
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.07%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 6 of 16 Pages
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Gary N. Siegler
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,103,500
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,103,500
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,103,500
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 050757103 Page 7 of 16 Pages
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Peter M. Collery
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/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
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,103,500
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,103,500
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,103,500
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
Page 8 of 16 Pages
SCHEDULE 13D
Item 1. Security and Issuer
(a) Class of Securities: Common Stock, par value,
$0.01 per share ("Common Stock")
(b) Issuer: Audiovox Corporation
150 Marcus Boulevard
Hauppauge, NY 11788
Item 2. Identity and Background
(a-c), (f). The persons (the "Reporting Persons") filing this
statement are SC Fundamental Inc., a Delaware corporation ("SC"), The SC
Fundamental Value Fund, L.P., a Delaware limited partnership ("Fund"), SC
Fundamental Value BVI, Inc., a Delaware corporation ("BVI Inc."), Siegler,
Collery & Co. Employees' Savings and Profit Sharing Plan, a Delaware
corporation ("Plan"), Gary N. Siegler ("Siegler"), a citizen of the United
States and Peter M. Collery ("Collery"), a citizen of the United States. The
principal business address of SC, Fund, BVI Inc., Siegler and Collery is 712
Fifth Avenue, New York, New York 10019.
Fund is primarily engaged in the business of investing in
securities. SC is the general partner of Fund. BVI Inc. is the managing
general partner of the investment manager of SC Fundamental Value BVI, Ltd.
("BVI Ltd."), a company principally engaged in the business of investing in
securities. The name, business address, present principal occupation or
employment and citizenship of each executive officer and director of SC and
BVI Inc. is set forth on Exhibit A hereto which is incorporated herein by
reference.
Siegler is a controlling stockholder, the president and a director
of SC and BVI Inc. Collery is a controlling stockholder, vice president, and
a director of SC and BVI Inc. Siegler and Collery are Trustees of the Plan.
Siegler and Collery are in a position to directly and indirectly determine the
investment and voting decisions made by SC and BVI Inc., and, consequently,
Fund and BVI Ltd., as well as the Plan.
The Reporting Persons may be deemed to be a "group" within the
meaning of Rule 13d-3 under the Securities Exchange Act of 1934 (the "Act").
(d,e). During the last five years, none of the Reporting Persons,
nor any of SC's and BVI Inc.'s executive officers or directors have been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or have been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction resulting in its or his being
Page 9 of 16 Pages
subject to a judgment, decree or final order enjoining future violation of, or
prohibiting or mandating activities subject to, federal or state securities
laws or a finding of any violation with respect to such laws.
Item 3. Source and Amount of Funds of Other Consideration
The aggregate purchase prices of the shares of the Issuer's Common
Stock ("Shares") purchased by the Reporting Persons as reported in Item 5(c)
of this Schedule 13D were as follows:
Name of Aggregate
Reporting Person Purchase Price
Fund $ 2,237,564.10
BVI Inc. on behalf of BVI Ltd. $ 1,233,234.78
Plan $ 80,986.50
The Reporting Persons listed above purchased the Shares reported
herein as beneficially owned by them with working capital of Fund and BVI Ltd.
or with funds extended by brokerage firms in connection with margin
transactions effected for Fund and BVI Ltd.
Item 4. Purpose of Transaction
The Reporting Persons purchased the Issuer's Common Stock for
investment purposes. The Reporting Persons currently have no plans or
proposals which would result in any of the actions described in clause (a)
through (j) of Item 4 of Rule 13d-101 of the Act.
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on April 24, 1997, the Reporting
Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be deemed to
own beneficially in the aggregate the number and percentage of the Issuer's
Common Stock set forth opposite their names below (based upon the number of
Shares that were reported to be outstanding in the Issuer's Form 10-Q as of
February 28, 1997). Siegler and Collery, by virtue of their status as
controlling stockholders of SC and BVI Inc. may be deemed to own beneficially
the Common Stock which SC, BVI Inc. and Fund are deemed to beneficially own.
By virtue of BVI Inc.'s role as managing general partner of the investment
manager of BVI Ltd., BVI Inc. may be deemed to beneficially own the Common
Stock which BVI Ltd. beneficially owns. Siegler and Collery disclaim
beneficial ownership of such shares of Common Stock and such percentage
ownership of the Issuer's Common Stock for any and all purposes.
Page 10 of 16 Pages
==============================================================================
Name Shares of Common Stock Percentage
- -----------------------------------------------------------------------------
SC Fundamental Inc. 712,745 3.7%
- -----------------------------------------------------------------------------
The SC Fundamental
Value Fund, L.P. 712,745 3.7%
- -----------------------------------------------------------------------------
SC Fundamental Value
BVI, Inc. 377,255 1.9%
- -----------------------------------------------------------------------------
Gary N. Siegler 1,103,500 5.7%
- -----------------------------------------------------------------------------
Peter M. Collery 1,103,500 5.7%
- -----------------------------------------------------------------------------
Siegler, Collery & Co. 13,500 .07%
Employees' Savings and
Profit Sharing Plan
==============================================================================
(b) Each of SC Fund and BVI Inc. has the sole or shared power to
vote or to direct the vote and to dispose or to direct the disposition of the
Shares of which it is deemed the beneficial owner. Siegler and Collery may be
deemed to share with SC, Fund and BVI, Inc. such powers with respect to the
Shares of which SC, Fund and BVI, Inc. beneficially own.
(c) The following table sets forth the transactions effected by each
of the Reporting Persons listed in Item 5(a) during the past sixty days.
Unless otherwise noted, each of the transactions set forth below reflects a
purchase effected on the American Stock Exchange (* reflects a sale).
BVI, Inc.
Price Per on behalf
Trade Date Share ($) Fund of BVI Ltd. Siegler Collery
- -----------------------------------------------------------------------------
4/22/97 5.456 81,735 43,265 0 0
- ------------------------------------------------------------------------------
4/22/97 5.575 325 175 0 0
- -----------------------------------------------------------------------------
4/22/97 5.125 5,885 3,115 0 0
- ------------------------------------------------------------------------------
4/24/97 5.401 52,310 27,600 0 0
- ------------------------------------------------------------------------------
- ------------
Page 11 of 16 Pages
(d) To the best of Reporting Persons' knowledge, except as set forth
herein, no other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, any shares of
Common Stock which Reporting Persons may be deemed to own beneficially.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of Issuer.
None.
Item 7. Material to be filed as Exhibits
Exhibit A -- Directors and Executive Officers of SC Fundamental Inc.
and SC Fundamental Value BVI, Inc.
Exhibit B -- Joint Filing Agreement dated April 25, 1997.
Page 12 of 16 Pages
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: April 25, 1997 SIEGLER, COLLERY & CO.
EMPLOYEES' SAVINGS AND
SC FUNDAMENTAL INC. PROFIT SHARING PLAN
By: By:
- ----------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery,
Vice President* Trustee*
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL INC.
By:
-----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
SC FUNDAMENTAL VALUE BVI, INC.
By:
-----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
- ------------------------------
Neil H. Koffler as Attorney-
in-Fact for Gary N. Siegler*
- ------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery*
*Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary
N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed
as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities
Corporation on August 4, 1995 and is hereby incorporated herein by reference.
Page 13 of 16 Pages
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: April 25, 1997
SIEGLER, COLLERY & CO.
EMPLOYEES' SAVINGS AND
SC FUNDAMENTAL INC. PROFIT SHARING PLAN
By: /s/ Peter M. Collery By: /s/ Peter M. Collery
- --------------------------------- -----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery,
Vice President* Trustee*
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL INC.
By: /s/ Peter M. Collery
- ---------------------------------
Neil H. Koffler as Attorney-in-Fact
for Peter M. Collery
Vice President*
SC FUNDAMENTAL VALUE BVI, INC.
By: /s/ Peter M. Collery
- ---------------------------------
Neil H. Koffler as Attorney-in-Fact
for Peter M. Collery
Vice President*
/s/ Gary N. Siegler
- ---------------------------------
Neil H. Koffler as Attorney-in-Fact
for Gary N. Siegler*
/s/ Peter M. Collery
- ---------------------------------
Neil H. Koffler as Attorney-in-Fact
for Peter M. Collery*
*Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary
N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed
as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities
Corporation on August 4, 1995 and is hereby incorporated herein by reference.
Page 14 of 16 Pages
EXHIBIT A
(i) DIRECTORS AND EXECUTIVE OFFICERS OF SC FUNDAMENTAL INC.
The name and present principal occupation or employment of the
directors and executive officers of SC Fundamental Inc. are set forth below.
The business address of each director and executive officer is 712 Fifth
Avenue, New York, New York 10019. All such persons are United States
citizens.
Present Principal
Name and Position Occupation or Employment
Gary N. Siegler President of Siegler, Collery & Co., SC
Director, President Fundamental Inc., and SC Fundamental
Value BVI, Inc.
Peter M. Collery Vice President of Siegler, Collery &
Director and Vice President Co., SC Fundamental Inc., and SC
Fundamental Value BVI, Inc.
(ii) DIRECTORS AND EXECUTIVE OFFICERS OF SC FUNDAMENTAL
VALUE BVI, INC.
The name and present principal occupation or employment of the
directors and executive officers of SC Fundamental Value BVI, Inc. are set
forth below. The business address of each director and executive officer is
712 Fifth Avenue, New York, New York 10019. All such persons are United
States citizens.
Present Principal
Name and Position Occupation or Employment
Gary N. Siegler President of Siegler, Collery & Co., SC
Trustee Fundamental Inc., and SC Fundamental
Value BVI, Inc.
Peter M. Collery Vice President of Siegler, Collery &
Trustee Co., SC Fundamental Inc., and SC
Fundamental Value BVI, Inc.
Page 15 of 16 Pages
EXHIBIT B
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf
of each of them of a Statement on Schedule 13D (including amendments thereto)
with respect to the Common Stock, par value $0.01 per Share, of Audiovox
Corporation and further agree that this Joint Filing Agreement be included as
an Exhibit to such joint filings. In evidence thereof, the undersigned, being
duly authorized, have executed this Joint Filing Agreement this 25th day of
April 1997.
SC FUNDAMENTAL INC.
By:
----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
THE SC FUNDAMENTAL VALUE FUND, L.P. SIEGLER, COLLERY & CO.
EMPLOYEES' SAVINGS
By: SC FUNDAMENTAL INC. AND PROFIT SHARING PLAN
By: By:
---------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery,
Vice President* Trustee*
SC FUNDAMENTAL VALUE BVI, INC.
By:
----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Gary N. Siegler*
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery*
*Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary
N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed
as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities
Corporation on August 4, 1995 and is hereby incorporated herein by reference.
95003
Page 16 of 16 Pages
EXHIBIT B
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf
of each of them of a Statement on Schedule 13D (including amendments thereto)
with respect to the Common Stock, par value $0.01 per Share, of Audiovox
Corporation and further agree that this Joint Filing Agreement be included as
an Exhibit to such joint filings. In evidence thereof, the undersigned, being
duly authorized, have executed this Joint Filing Agreement this 25th day of
April 1997.
SC FUNDAMENTAL INC.
By: /s/ Peter M. Collery
---------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
THE SC FUNDAMENTAL VALUE FUND, L.P. SIEGLER, COLLERY & CO.
EMPLOYEES' SAVINGS
By: SC FUNDAMENTAL INC. AND PROFIT SHARING PLAN
By: /s/ Peter M. Collery By: /s/ Peter M. Collery
--------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery
Vice President* Trustee*
SC FUNDAMENTAL VALUE BVI, INC.
By: /s/ Peter M. Collery
----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President*
/s/ Gary N. Siegler
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Gary N. Siegler*
/s/ Peter M. Collery
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery*
*Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and Gary
N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler were filed
as Exhibit A to Amendment No. 5 to Schedule 13D relating to US Facilities
Corporation on August 4, 1995 and is hereby incorporated herein by reference.
95003
