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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
THE CHILE FUND, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.001 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
168834109
--------------------------------------------------------------------------------
(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)
May 28, 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 11 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 11 Pages
SCHEDULE 13D
----------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
----------------------------------------------------------------------------------------------------------------------
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
----------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0 Shares
Number of ------- -----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 0 Shares
Owned by ------- -----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0 Shares
Person ------- -----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
0 Shares
----------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
0 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)
0%
---------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IV*
----------------------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940.
Page 3 of 11 Pages
---------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
---------------------------------------------------------------------------------------------------------------------
1) Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Laxey Investors 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
---------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0 Shares
Number of ------- ----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 0 Shares
Owned by ------- ----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0 Shares
Person ------- ----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
0 Shares
---------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
0
--------- -----------------------------------------------------------------------------------------------------------
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)
0%
--------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IV*
--------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940.
Page 4 of 11 Pages
---------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0 Shares
Number of ------- ----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 0 Shares
Owned by ------- ----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0
Person ------- ----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
0 Shares
---------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
0 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)
0 %
--------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
PN, IV*
--------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940.
Page 5 of 11 Pages
---------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0 Shares
Number of ------- ----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 1,250 Shares
Owned by ------- ----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0
Person ------- ----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
1,250 Shares
---------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,250 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)
.01%
--------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IV*
--------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Advisers Act of 1940.
Page 6 of 11 Pages
---------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0
Number of ------- ----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 1,250 Shares
Owned by ------- ----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0
Person ------- ----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
1,250 Shares
---------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,250 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)
.01%
--------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
--------- -----------------------------------------------------------------------------------------------------------
Page 7 of 11 Pages
---------------------------------------------------------------------------------------------------------------------
CUSIP No. 168834109
---------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------
7) Sole Voting Power
0
Number of ------- ----------------------------------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 1,250 Shares
Owned by ------- ----------------------------------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0
Person ------- ----------------------------------------------------------------------------------------
With 10) Shared Dispositive Power
1,250 Shares
---------------------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,250 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)
.01%
--------- -----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
--------- -----------------------------------------------------------------------------------------------------------
Page 8 of 11 Pages
This Amendment No. 4 to the Statement on Schedule 13D amends and restates Item 4
of the Statement on Schedule 13D originally filed with the Securities and
Exchange Commission on May 30, 2001 and amended by Amendment No. 1 to the
Statement on Schedule 13D filed on January 15, 2002, Amendment No. 2 to the
Statement on Schedule 13D filed on February 5, 2002 and Amendment No. 3 to the
Statement on Schedule 13D filed on March 15, 2002 (collectively, the "Schedule
13D") by The Value Catalyst Fund Limited ("Catalyst"), Laxey Investors Limited
("LIL"), Laxey Investors L.P. ("LILP") and Laxey Partners Limited ("Laxey")
Collin Kingsnorth ("Kingsnorth") and Andrew Pegge ("Pegge" and, together with
Catalyst, LIL, LILP, Laxey and Kingsnorth, the "Reporting Persons"), with
respect to the shares of Common Stock, $0.001 par value per share (the "Common
Stock"), of The Chile Fund, Inc. (the "Fund").
Item 4. 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, Laxey, together with Kingsnorth and Pegge, are
the beneficial owners of 1,250 shares of Common Stock, constituting
approximately .01% of the shares of Common Stock outstanding. No other
person identified in Item 2 beneficially owns any shares of Common
Stock.
(b) As of the date hereof, Kingsnorth and Pegge share with Laxey the power
to vote and dispose of all 1,250 shares of Common Stock. 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) During the past 60 days, the following open market sales of Common
Stock have been made by Catalyst:
------------------------------------------------------------------------
Date Number of Shares of Common Price Per Share
Stock Sold
----------------- -------------------------------- ---------------------
05/28/03 264,451 $9.00
------------------------------------------------------------------------
During the past 60 days, the following open market sales of Common
Stock have been made by LIL:
------------------------------------------------------------------------
Date Number of Shares of Common Price Per Share
Stock Sold
----------------- -------------------------------- ---------------------
05/28/03 211,250 $9.00
------------------------------------------------------------------------
Page 9 of 11 Pages
During the past 60 days, the following open market sales of Common
Stock have been made by LILP:
------------------------------------------------------------------------
Date Number of Shares of Common Price Per Share
Stock Sold
----------------- -------------------------------- ---------------------
05/28/03 195,719 $9.00
------------------------------------------------------------------------
During the past 60 days, the following open market sales of Common
Stock have been made on behalf of the Accounts:
------------------------------------------------------------------------
Date Number of Shares of Common Price Per Share
Stock Sold
----------------- -------------------------------- ---------------------
05/28/03 484,178 $9.00
------------------------------------------------------------------------
No separate transactions were undertaken by Kingsnorth or Pegge during the above
time period.
(d) Each of the Reporting Persons ceased to be the beneficial owner of more
than 5% of the Common Stock as of May 28, 2003.
..
Page 10 of 11 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. 4 to Schedule 13D is true, complete and correct.
Dated: May 28, 2003
THE VALUE CATALYST FUND LIMITED
By: /s/ Elizabeth Tansell
--------------------------
Name: Elizabeth Tunsell
Title: Director
LAXEY INVESTORS LIMITED
By: /s/ Andrew Pegge
--------------------------
Name: Andrew Pegge
Title: Director
LAXEY PARTNERS LIMITED
By: /s/ Andrew Pegge
--------------------------
Name: Andrew Pegge
Title: Director
/s/ Colin Kingsnorth
-------------------------------
Colin Kingsnorth
/s/ Andrew Pegge
-------------------------------
Andrew Pegge
Page 11 of 11 Pages
LAXEY INVESTORS L.P.
By: Laxey Partners (GP) Limited, as
General Partner
By: /s/ Andrew Pegge
-------------------------------
Name: Andrew Pegge
Title: Director