UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Dynamex Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
26784F103
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(CUSIP Number)
December 31, 2003
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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:
[X] Rule 13d-1(b)
[_] 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 (the
"Act") or otherwise subject to the liabilities of that section of the Act but
shall to all other provisions of the Act (however, see the Notes).
Page 1 of 8
CUSIP No. 26784F103
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1. Name of Reporting Person
I.R.S. Identification No. of above persons (entities only).
Talon Asset Management, Inc.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
Not applicable.
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3. SEC Use Only
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4. Citizenship or Place of Organization
Illinois corporation
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Number of 5. Sole Voting Power: None
Shares Benef-
---------------------------------------------------------------
icially owned 6. Shared Voting Power: 647,592
by Each
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Reporting 7. Sole Dispositive Power: None
Person With:
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8. Shared Dispositive Power: 647,592
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
647,592
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
Not applicable.
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11. Percent of Class represented by Amount in Row (9)
5.8%
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12. Type of Reporting Person (See Instructions)
IA
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Page 2 of 8
CUSIP No. 26784F103
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1. Name of Reporting Person
I.R.S. Identification No. of above persons (entities only).
Talon Opportunity Partners, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
Not applicable.
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware limited partnership
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Number of 5. Sole Voting Power: None
Shares Benef-
---------------------------------------------------------------
icially owned 6. Shared Voting Power: 535,100
by Each
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Reporting 7. Sole Dispositive Power: None
Person With:
---------------------------------------------------------------
8. Shared Dispositive Power: 535,100
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
535,100
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
Not applicable.
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11. Percent of Class represented by Amount in Row (9)
4.8%
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12. Type of Reporting Person (See Instructions)
PN
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Page 3 of 8
CUSIP No. 26784F103
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1. Name of Reporting Person
I.R.S. Identification No. of above persons (entities only).
Talon Opportunity Managers, L.L.C.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
Not applicable.
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3. SEC Use Only
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4. Citizenship or Place of Organization
Illinois limited liability company
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Number of 5. Sole Voting Power: None
Shares Benef-
--------------------------------------------------------------
icially owned 6. Shared Voting Power: 535,100
by Each
--------------------------------------------------------------
Reporting 7. Sole Dispositive Power: None
Person With:
--------------------------------------------------------------
8. Shared Dispositive Power: 535,100
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
535,100
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
Not applicable.
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11. Percent of Class represented by Amount in Row (9)
4.8%
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12. Type of Reporting Person (See Instructions)
OO
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Page 4 of 8
Item 1.
(a) Name of Issuer:
Dynamex Inc.
(b) Address of Issuer's Principal Executive Offices
1870 Crown Drive
Dallas, TX 75234
Item 2.
(a) Name of Person Filing
(i) Talon Asset Management, Inc., manager of Talon Opportunity
Managers, L.L.C.
(ii) Talon Opportunity Partners, L.P.
(iii) Talon Opportunity Managers, L.L.C., the general partner of
Talon Opportunity Partners, L.P.
(b) Address of Principal Business Office (i)-(iii):
One North Franklin
Suite 900
Chicago, IL 60606
(c) Citizenship
(i) Illinois corporation
(ii) Delaware limited partnership
(iii) Illinois limited liability company
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
26784F103
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c),
check whether the person is filing is a:
(a) --- Broker or dealer registered under section 15 of the Act
(b) --- Bank as defined in section 3(a)(6) of the Act
(c) --- Insurance Company as defined in section 3(a)(19) of the Act
(d) --- Investment company registered under section 8 of the
Investment Company Act of 1940
(e) X An investment adviser in accordance with Rule
---
13d-1(b)(1)(ii)(E)
(f) An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F)
(g) --- A parent holding company or control person in accordance
with Rue 13d-1(b)(1)(ii)(G)
(h) --- A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act
(i) --- A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940
(j) Group, in accordance with 13d-1(b)(1)(ii)(J)
Item 4. Ownership
(a) Amount beneficially owned
Talon Asset Management, Inc. 647,592
Talon Opportunity Partners, L.P. 535,100
Talon Opportunity Managers, L.L.C. 535,100
(b) Percent of class
Talon Asset Management, Inc. 5.8% (based on
11,248,617 shares
outstanding as of
December 5, 2003)
Page 5 of 8
Talon Opportunity Partners, L.P. 4.8% (based on
11,248,617 shares
outstanding as of
December 5, 2003)
Talon Opportunity Managers, L.L.C. 4.8% (based on
11,248,617 shares
outstanding as of
December 5, 2003)
(c) Number of shares as to which
Talon Asset Management, Inc. has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 647,592
(iii) Sole power to dispose or to direct the disposition
of: None
(iv) Shared power to dispose or to direct the disposition
of: 647,592
Talon Opportunity Partners, L.P. has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 535,100
(iii) Sole power to dispose or to direct the disposition
of: None
(iv) Shared power to dispose or to direct the disposition
of: 535,100
Talon Opportunity Managers, L.L.C. has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 535,100
(iii) Sole power to dispose or to direct the disposition
of: None
(iv) Shared power to dispose or to direct the disposition
of: 535,100
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
[X].
As the date hereof, Talon Opportunity Partners, L.P. and Talon
Opportunity Managers, L.L.C. have ceased to be the beneficial owners of
more than five percent of the class of securities. Talon Asset
Management, Inc. continues to hold more than five percent of the class
of securities.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
The shares reported herein by Talon Asset Management, Inc. ("Talon")
are either (a) held on behalf of discretionary clients of Talon Asset
Management, Inc. or (b) held on behalf of Talon Opportunity Partners,
L.P. , as manager of Talon Opportunity Managers, L.L.C., the general
partner of Talon Opportunity Partners, L.P. To the knowledge of Talon,
no client has the right to receive dividends or direct the proceeds
from the sale of interests relating to more than 5% of the class. From
time to time, Talon Opportunity Partners, L.P. may make distributions
of partnership income to limited partners, none of which has an
interest relating to more than 5% of the class.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of the Group
Not applicable.
Item 10. Certification
Page 6 of 8
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 the 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.
SIGNATURE
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.
February 17, 2004
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Date
TALON ASSET MANAGEMENT, INC.
/s/ Alan Wilson
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Signature
Alan Wilson/President
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Name/Title
TALON OPPORTUNITY PARTNERS, L.P.
By: Talon Opportunity Managers, L.L.C.
Its General Partner
By: Talon Asset Management, Inc.
Its Manager
/s/ Alan Wilson
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Signature
Alan Wilson/President
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Name/Title
TALON OPPORTUNITY MANAGERS, L.L.C.
By: Talon Asset Management, Inc.
Its Manager
/s/ Alan Wilson
--------------------------------------
Signature
Alan Wilson/President
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Name/Title
Page 7 of 8
EXHIBIT A
Joint Filing Agreement
Talon Asset Management, Inc. (an investment adviser registered under the
Investment Advisers Act 1940), Talon Opportunity Partners, L.P., a Delaware
limited partnership and Talon Opportunity Managers, L.L.C., an Illinois limited
liability company, and hereby agree to file jointly the statement on Schedule
13G to which this Agreement is attached, and any amendments thereto which may be
deemed necessary.
It is understood and agreed that each of the parties hereto is responsible for
the timely filing of such statement and any amendments thereto, and for the
completeness and accuracy of the information concerning such party contained
therein, but such party is not responsible for the completeness or accuracy of
information concerning the other party unless such party knows or has reason to
believe that such information is inaccurate.
It is understood and agreed that a copy of this Agreement shall be attached as
an exhibit to the statement on Schedule 13G, and any amendments thereto, filed
on behalf of each of the parties hereto.
Dated: February 17, 2004
TALON ASSET MANAGEMENT, INC.
/s/ Alan Wilson
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Signature
Alan Wilson/President
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Name/Title
TALON OPPORTUNITY PARTNERS, L.P.
By: Talon Opportunity Managers, L.L.C.
Its General Partner
By: Talon Asset Management, Inc.
Its Manager
/s/ Alan Wilson
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Signature
Alan Wilson/President
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Name/Title
TALON OPPORTUNITY MANAGERS, L.L.C.
By: Talon Asset Management, Inc.
Its Manager
/s/ Alan Wilson
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Signature
Alan Wilson/President
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Name/Title
Page 8 of 8