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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. 5)*
THE MEXICO FUND, INC.
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(Name of Issuer)
Common Stock, $1.00 Par Value
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(Title of Class of Securities)
592835102
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(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 01624 690900
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 21, 2002
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(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.
* 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).
2
SCHEDULE 13D
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CUSIP No. 592835102
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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.
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2) Check the Appropriate Box if a Member of a Group (a) [X]
(See Instructions) (b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions)
OO
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5) Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization
CAYMAN ISLANDS
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7) Sole Voting Power
0
Number of ------------------------------------------------------------
Shares 8) Shared Voting Power
Beneficially 1,123,400 SHARES
Owned by ------------------------------------------------------------
Each 9) Sole Dispositive Power
Reporting 0
Person ------------------------------------------------------------
With 10) Shared Dispositive Power
1,123,400 SHARES
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,123,400 SHARES
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12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13) Percent of Class Represented by Amount in Row (11)
5.6%
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14) Type of Reporting Person (See Instructions)
IV*
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* Not registered under the Investment Company Act of 1940.
3
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CUSIP No. 592835102
--------------------------------------------------------------------------------
1) Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
LAXEY INVESTORS LIMITED
NO I.R.S. IDENTIFICATION NO.
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2) Check the Appropriate Box if a Member of a Group (a) [X]
(See Instructions) (b) [ ]
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3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
OO
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization
BRITISH VIRGIN ISLANDS
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7) Sole Voting Power
Number of 0
Shares -----------------------------------------------------------
Beneficially
Owned by 8) Shared Voting Power
Each 1,035,460 SHARES
Reporting -----------------------------------------------------------
Person 9) Sole Dispositive Power
With 0
-----------------------------------------------------------
10) Shared Dispositive Power
1,035,460 SHARES
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,035,460 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)
5.2%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IV*
--------------------------------------------------------------------------------
* Not registered under the Investment Company Act of 1940.
4
--------------------------------------------------------------------------------
CUSIP No. 592835102
--------------------------------------------------------------------------------
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 (a) [X]
(See Instructions) (b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
N/A
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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
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7) Sole Voting Power
Number of 0
Shares -----------------------------------------------------------
Beneficially 8) Shared Voting Power
Owned by 2,251,650 SHARES
Each -----------------------------------------------------------
Reporting 9) Sole Dispositive Power
Person 0
With -----------------------------------------------------------
10) Shared Dispositive Power
2,251,650 SHARES
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,251,650 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)
11.3%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IV*
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* Not registered under the Investment Company Act of 1940.
5
--------------------------------------------------------------------------------
CUSIP No. 592835102
--------------------------------------------------------------------------------
1) Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
COLIN KINGSNORTH
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2) Check the Appropriate Box if a Member of a Group (a) [X]
(See Instructions) (b) [ ]
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3) SEC Use Only
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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) [ ]
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6) Citizenship or Place of Organization
BRITISH
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7) Sole Voting Power
Number of 0
Shares -----------------------------------------------------------
Beneficially 8) Shared Voting Power
Owned by 2,251,650 SHARES
Each -----------------------------------------------------------
Reporting 9) Sole Dispositive Power
Person 0
With -----------------------------------------------------------
10) Shared Dispositive Power
2,251,650 SHARES
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,251,650 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)
11.3%
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14) Type of Reporting Person (See Instructions)
IN
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6
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CUSIP No. 592835102
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1) Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
ANDREW PEGGE
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2) Check the Appropriate Box if a Member of a Group (a) [X]
(See Instructions) (b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions)
N/A
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization
BRITISH
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7) Sole Voting Power
Number of 0
Shares -----------------------------------------------------------
Beneficially 8) Shared Voting Power
Owned by 2,251,650 SHARES
Each -----------------------------------------------------------
Reporting 9) Sole Dispositive Power
Person 0
With -----------------------------------------------------------
10) Shared Dispositive Power
2,251,650 SHARES
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,251,650 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)
11.3%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
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7
This Amendment No. 5 to the Statement on Schedule 13D amends and supplements
Items 4 and 5 of the Statement on Schedule 13D originally filed with the
Securities and Exchange Commission on August 1, 2001, and amended by Amendment
No. 1 on October 25, 2001, Amendment No. 2 on November 9, 2001, Amendment No. 3
on December 21, 2001 and Amendment No. 4 on March 7, 2002 (collectively, the
"Schedule 13D") by Laxey Partners Limited ("Laxey"), The Value Catalyst Fund
Limited ("Catalyst"), Laxey Investors Limited ("LIL"), Colin Kingsnorth
("Kingsnorth") and Andrew Pegge ("Pegge", collectively with Laxey, Catalyst, LIL
and Kingsnorth, the "Reporting Persons"), with respect to the shares of Common
Stock, par value $1.00 per share (the "Common Stock"), of The Mexico Fund, Inc.
(the "Fund").
Item 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended to add the following information:
This filing is made pursuant to the completion of the Company's in-kind
repurchase offer for up to 100% of the Company's outstanding shares which
expired on June 7, 2002. The repurchase offer resulted in a decrease in
outstanding shares of common stock from 45,456,232 shares to 19,969,047 shares
as set forth in Amendment No. 3 to the Issuer's Tender Offer Statement on Form
SC TO-I filed with the Securities and Exchange Commission on June 21, 2002.
None of the Reporting Persons or, in the case of non-individual Reporting
Persons, any of their directors or executive officers identified in Item 2, have
any present plans or proposals which relate to or could result in, any of the
matters referred to in paragraphs (a) through (j), inclusive, of Item 4 of
Schedule 13D (although they reserve the right to develop any such plans or
proposals).
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):
(a) As of the date hereof, Catalyst, together with Laxey, Kingsnorth and
Pegge, are the beneficial owners of 1,123,400 shares of Common Stock,
which represent approximately 5.6% of the issued and outstanding Common
Stock of the Fund. As of the date hereof, LIL, together with Laxey,
Kingsnorth and Pegge, are the beneficial owners of 1,035,460 shares of
Common Stock, which represents approximately 5.2% 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 92,640 shares of
Common Stock held in the Accounts, which represents approximately 0.5%
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. In
addition, Laxey, together with Kingsnorth and Pegge, are the beneficial
owners of 150 shares of Common Stock. Accordingly, Laxey, Kingsnorth
and Pegge are, as of the date hereof, beneficial owners of an aggregate
of 2,251,650 shares of Common Stock, constituting approximately 11.3%
8
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, Laxey, Kingsnorth and Pegge share with Catalyst
the power to vote and dispose of 1,123,400 shares of Common Stock. As
of the date hereof, Laxey, Kingsnorth and Pegge share with LIL the
power to vote and dispose of 1,035,460 shares of Common Stock. As of
the date hereof, Laxey, Kingsnorth and Pegge have sole voting and
dispository power with respect to the 92,640 shares of Common Stock
held in the Accounts. In addition, as of the date hereof, Kingsnorth
and Pegge share with Laxey the power to vote and dispose of 150 shares
of Common Stock. Accordingly, Laxey, Kingsnorth and Pegge, as of the
date hereof, have voting power and dispositive power over an aggregate
of 2,251,650 shares of Common Stock, constituting approximately 11.3%
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) Since the last filing on Schedule 13D, there have been no additional
transactions made by the Reporting Persons.
9
SIGNATURES
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, the undersigned hereby certifies that the information set forth
in this Amendment No. 5 to Schedule 13D is true, complete and correct.
Dated: June 28, 2002
THE VALUE CATALYST FUND LIMITED
By: /s/ James McCarthy
----------------------------
Name: James McCarthy
Title: Chairman
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