-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Kwuj7enRytSKIdqMBBwCWZ7Oxgk94c48KvRC1FK4GK1ory7Dqa11hq3XIf1v9a2a AQjuftJj/IeeInLd+tKalg== 0000950136-03-001745.txt : 20030718 0000950136-03-001745.hdr.sgml : 20030718 20030718162642 ACCESSION NUMBER: 0000950136-03-001745 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030718 GROUP MEMBERS: ANDREW PEGGE GROUP MEMBERS: COLIN KINGSNORTH GROUP MEMBERS: LAXEY INVESTORS LIMITED GROUP MEMBERS: LAXEY INVESTORS, L.P. GROUP MEMBERS: LAXEY PARTNERS LIMITED GROUP MEMBERS: LAXEY UNIVERSAL VALUE, LP GROUP MEMBERS: LP VALUE LIMITED GROUP MEMBERS: THE VALUE CATALYST FUND LIMITED FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LAXEY PARTNERS LTD CENTRAL INDEX KEY: 0001190021 IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 7-9 MARKET HILL STREET 2: DOUGLAS CITY: ISLE OF MAN 1IM1 2BF STATE: X0 ZIP: 00000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: R O C TAIWAN FUND CENTRAL INDEX KEY: 0000836267 IRS NUMBER: 526400931 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40977 FILM NUMBER: 03793266 BUSINESS ADDRESS: STREET 1: 62 WEST 45 STREET STREET 2: 4TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 800-343-9567 SC 13D/A 1 file001.txt SCHEDULE 13D ------------------------------- OMB APPROVAL ------------------------------- OMB Number: 3235-0145 ------------------------------- Expires: October 31, 2002 ------------------------------- Estimated average burden hours per response. . . 14.9 ------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2) R.O.C. TAIWAN FUND - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 749651105 - -------------------------------------------------------------------------------- (CUSIP Number) Andrew Pegge Jeffry S. Hoffman Laxey Partners Limited Swidler Berlin Shereff Friedman, LLP Stanley House The Chrysler Building 7-9 Market Hill 405 Lexington Avenue Douglas New York, NY 10174 Isle of Man IM1 2BF (212) 891-9260 011 44 1624 629365 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 14, 2003 - -------------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other parties to whom copies are to be sent. (Page 1 of 12 Pages) * 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 purpose of Section 18 of the Securities Exchange Act of 1934 (the "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 2 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) THE VALUE CATALYST FUND LIMITED NO I.R.S. IDENTIFICATION NO. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization CAYMAN ISLANDS - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 974,840 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 974,840 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 974,840 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 3.0% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IV* - -------------------------------------------------------------------------------- *Not registered under the Investment Company Act of 1940. Page 3 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LP VALUE LIMITED NO I.R.S. IDENTIFICATION NO. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization BRITISH VIRGIN ISLANDS - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 968,600 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 968,600 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 968,600 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 3.0% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IV* - -------------------------------------------------------------------------------- *Not registered under the Investment Company Act of 1940. Page 4 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY UNIVERSAL VALUE, LP NO I.R.S. IDENTIFICATION NO. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization DELAWARE - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 965,000 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 965,000 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 965,000 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 3.0% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) PN* - -------------------------------------------------------------------------------- *Not registered under the Investment Company Act of 1940. Page 5 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY INVESTORS, L.P. NO I.R.S. IDENTIFICATION NO. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization DELAWARE - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 779,216 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 779,216 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 779,216 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 2.4% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) PN* - -------------------------------------------------------------------------------- *Not registered under the Investment Company Act of 1940. Page 6 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY PARTNERS LIMITED NO I.R.S. IDENTIFICATION NO. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization ISLE OF MAN - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 4,641,656 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 4,641,656 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 4,641,656 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 14.2% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IA* - -------------------------------------------------------------------------------- *Not registered under the Investment Advisers Act of 1940. Page 7 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) COLIN KINGSNORTH - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization BRITISH - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 4,641,656 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 4,641,656 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 4,641,656 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 14.2% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 8 of 12 Pages SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 749651105 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) ANDREW PEGGE - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization BRITISH - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ----------------------------------------------------------- Owned by 8) Shared Voting Power Each 4,641,656 SHARES Reporting ----------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ----------------------------------------------------------- 10) Shared Dispositive Power 4,641,656 SHARES - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 4,641,656 SHARES - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 14.2% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 9 of 12 Pages This Amendment No. 2 to the Statement on Schedule 13D amends Items 3 and 5 of the Statement on Schedule 13D originally filed with the Securities and Exchange Commission on January 13, 2003 and amended by Amendment No. 1 on January 27, 2003 by The Value Catalyst Fund Limited ("Catalyst"), LP Value Limited ("LPV"), Laxey Universal Value LP ("LUV"), Laxey Investors, L.P. ("LILP"), Laxey Partners Limited ("Laxey"), Colin Kingsnorth ("Kingsnorth") and Andrew Pegge ("Pegge"), with respect to the shares of Common Stock (the "Common Stock") of the ROC Taiwan (the "Trust"). ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Item 3 is hereby amended and restated in its entirety to read as follows: The funds used to purchase the shares of Common Stock described in this statement were acquired through open market purchases and were derived from Catalyst's, LPV's, LUV's, LILP's and Laxey's investment capital and funds provided by one or more discretionary accounts managed for unaffiliated third parties (the "Accounts"). The aggregate amount of the funds used to purchase all of the shares purchased by Catalyst, LPV, LUV, LILP, the Accounts and Laxey is $3,684,895.20, $3,564,448, $3,636,000, $2,940,492.80, $3,551,700 and $3,460, respectively. Item 5. INTEREST IN SECURITIES OF THE ISSUER Items 5(a) and 5(b) below are hereby amended and restated in their entirety and Item 5(c) is hereby amended to supplement the original Item 5(c) as follows: (a) As of the date hereof, Catalyst, together with Laxey, Kingsnorth and Pegge, are the beneficial owners of 974,840 shares of Common Stock, which represent approximately 3.0% of the issued and outstanding Common Stock of the Trust. As of the date hereof, LPV, together with Laxey, Kingsnorth and Pegge, are the beneficial owners of 968,600 shares of Common Stock, which represents approximately 3.0% of the issued and outstanding shares of the Common Stock. As of the date hereof, LUV, together with Laxey, Kingsnorth and Pegge are the beneficial owners of 965,000 shares of Common Stock which represents approximately 3.0% of the issued and outstanding shares of the Common Stock. As of the date hereof, LILP, together with Laxey, Kingsnorth and Pegge are the beneficial owners of 779,216 shares of Common Stock, which represents approximately 2.4% of the issued and outstanding shares of the Common Stock. As of the date hereof, Laxey, Kingsnorth and Pegge are the beneficial owners, through Laxey's discretionary authority over the Accounts, of the 953,000 shares of Common Stock held in the Accounts, which represents approximately 2.9% of the issued and outstanding shares of the Common Stock. The Accounts are terminable at any time by the respective third parties, for which the Accounts are held, upon providing written notice to Laxey. As of the date hereof, Laxey together with Kingsnorth and Pegge are the beneficial owners of 1,000 shares of Common Stock, which represents less than 1% of the issued and outstanding shares of Common Stock. Accordingly, Laxey, Kingsnorth and Pegge are, as of the date hereof, beneficial owners of an aggregate of 4,641,656 shares of Common Stock, constituting approximately 14.2% of the shares of Common Stock outstanding. No other person identified in Item 2 beneficially owns any shares of Common Stock. Page 10 of 12 Pages (b) As of the date hereof, Laxey, Kingsnorth and Pegge share with Catalyst the power to vote and dispose of 974,840 shares of Common Stock. As of the date hereof, Laxey, Kingsnorth and Pegge share with LPV the power to vote and dispose of 968,600 shares of Common Stock. As of the date hereof, Laxey, Kingsnorth and Pegge share with LUV, the power to vote and dispose of 965,000 shares of Common Stock. As of the date hereof, Laxey, Kingsnorth and Pegge share with LILP the power to vote and dispose of 779,216 shares of Common Stock. As of the date hereof, Laxey, Kingsnorth and Pegge have sole voting and dispository power with respect to the 953,000 shares of Common Stock held in the Accounts. As of the date hereof, Kingsnorth and Pegge share with Laxey the power to vote and dispose of 1,000 shares of Common Stock. Accordingly, Laxey, Kingsnorth and Pegge, as of the date hereof, have voting power and dispositive power over an aggregate of 4,641,656 shares of Common Stock, constituting approximately 14.2% of the shares of Common Stock outstanding. No other person identified in Item 2 shares the power to vote or dispose of any shares of Common Stock. The information contained in Item 2 relating to the persons identified in this Item 5(b) is incorporated by reference. (c) In the past 60 days, the following open market purchases of Common Stock have been made by LUV:
-------------------------------- -------------------------------------------- ---------------------------------- DATE OF PURCHASE NUMBER OF SHARES OF COMMON STOCK BOUGHT PRICE PAID/SHARE -------------------------------- -------------------------------------------- ---------------------------------- 07/14/03 265,000 $4.00 -------------------------------- -------------------------------------------- ----------------------------------
In the past 60 days, the following open market purchases of Common Stock have been made by LILP:
-------------------------------- -------------------------------------------- ---------------------------------- DATE OF PURCHASE NUMBER OF SHARES OF COMMON STOCK BOUGHT PRICE PAID/SHARE -------------------------------- -------------------------------------------- ---------------------------------- 06/23/03 200,000 $3.94 -------------------------------- -------------------------------------------- ---------------------------------- 07/14/03 192,056 $4.00 -------------------------------- -------------------------------------------- ---------------------------------- 07/16/03 11,000 $4.06 -------------------------------- -------------------------------------------- ----------------------------------
No separate transactions were undertaken by Catalyst, LPV, Laxey, Kingsnorth, Pegge or the Accounts during the above time period. Page 11 of 12 Pages SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned hereby certify that the information set forth in this Amendment No. 2 to Statement on Schedule 13D is true, complete and correct. Dated: July 18, 2003 THE VALUE CATALYST FUND LIMITED By: /s/ Elizabeth Tansell --------------------------------- Name: Elizabeth Tansell Title: Director LP VALUE LIMITED By: /s/ Chris Bruce --------------------------------- Name: Chris Bruce Title: Director LAXEY UNIVERSAL VALUE LP By: Laxey Partners GP(2) Limited, its General Partner By: /s/ Chris Bruce --------------------------------- Name: Chris Bruce Title: Director LAXEY INVESTORS, L.P. By: Laxey Partners (GP) Limited, its General Partner By: /s/ Chris Bruce --------------------------------- Name: Chris Bruce Title: Director LAXEY PARTNERS LIMITED By: /s/ Chris Bruce --------------------------------- Name: Chris Bruce Title: Director Page 12 of 12 Pages /s/ Colin Kingsnorth ------------------------------------ Colin Kingsnorth /s/ Andrew Pegge ------------------------------------ Andrew Pegge -----END PRIVACY-ENHANCED MESSAGE-----