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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
HUNGARIAN TELEPHONE AND CABLE CORP
(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
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4455421030
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(CUSIP Number)
FEBRUARY 27, 2007
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
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.
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CUSIP NO. 4455421030 13G PAGE 2 OF 5 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Straumur-Burdaras Investment Bank hf.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(See Instructions)
(a) [_]
(b) [_]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Iceland
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5 SOLE VOTING POWER
901,575
NUMBER OF
SHARES ----- ----------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH
REPORTING ----- ----------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
901,575
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8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
901,575
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see Instructions) [_]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.04% (1)
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12 TYPE OF REPORTING PERSON (see instructions)
BK
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(1) The calculation of the foregoing percentage is based on the number of
shares of common stock of the issuer outstanding (12,811,165) as of November 8,
2006 and set forth in the issuer's Form 10-Q for the quarter ended September 30,
2006 as filed with the Securities and Exchange Commission (the "Commission") on
November 11, 2006.
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CUSIP NO. 4455421030 13G PAGE 3 OF 5 PAGES
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ITEM 1.
(A) NAME OF ISSUER: Hungarian Telephone and Cable Corp
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1201 Third Avenue
Suite 3400
Seattle, WA 98101-3299
ITEM 2.
(A) NAME OF PERSON FILING: Straumur-Bardaras Investment Bank hf.
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Straumur Bardaras Investment Bank hf.
Borgartun 25
IS-105 Reykjavik, Iceland;
(C) CITIZENSHIP:
Iceland
(D) TITLE OF CLASS OF SECURITIES: Common Stock
(E) CUSIP NO: 4455421030
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR
(C), CHECK WHETHER THE PERSON FILING IS A:
N/A
ITEM 4. OWNERSHIP
(A) AMOUNT BENEFICIALLY OWNED: See response to item 9 on the attached
cover page.
(B) PERCENT OF CLASS: See response to item 11 on the attached cover
page. )
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(I) sole power to vote or to direct the vote: See
response to item 5 on the attached cover page.
(II) shared power to vote or to direct the vote: See
response to item 6 on the attached cover page.
(III) sole power to dispose or to direct the
disposition of: See response to item 7 on the attached cover
page.
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CUSIP NO. 4455421030 13G PAGE 4 OF 5 PAGES
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(IV) shared power to dispose or to direct the
disposition of: See response to item 8 on the attached cover
page.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following [ ].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
N/A
ITEM 10. CERTIFICATION
By signing below I certify that to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that purpose or effect
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CUSIP NO. 4455421030 13G PAGE 5 OF 5 PAGES
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SIGNATURES
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.
STRAUMUR-BURDARAS INVESTMENT BANK hf.
March 7, 2007
By: /s/Lucas D. Schenck
Name and Title: Lucas D. Schenck, Attorney
in Fact for Straumur-Burdaras Investment
Bank hf.