SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Farm Family Holdings, Inc.
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
307901108
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(CUSIP NUMBER)
Dennis P. McConnell, Esq.
c/o Dolgenos Newman & Cronin LLP
96 Spring Street
New York, New York 10012
(212) 925-2800
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 2, 2000
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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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4) check the following box
[ ].
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, as amended (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.
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SCHEDULE 13D
CUSIP No. 307901 10 8 Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Parsimony Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX 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
Jersey, Channel Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES 403,500 shares
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 403,500 shares
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
403,500 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 3 of 8 Pages
Item 1. Security and Issuer.
Farm Family, Inc. (the "Issuer")
344 Route 9W
Glenmont, NY 12077
Common Stock, $0.01 par value (the "Common Stock")
Item 2. Identity and Background
I. Reporting Person
(a) Name of Person Filing.
This statement is being filed on behalf of PARSIMONY LIMITED
(b) Residence or Business Address.
The Reporting Person has its principal business at:
Piermont House
33/35 Pier Road
St. Helier, Jersey
Channel Islands JE4 8X3
(c) Principal Occupation.
The Reporting Person is an investment management holding company.
(d) and (e)
The Reporting Person has not, during the last five years, been convicted in
any criminal proceeding and has not and is not subject to any judgment, decree
or final order as a result of any civil proceeding, enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
(f) Citizenship.
The Reporting Person is a citizen of Jersey, Channel Islands
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Page 4 of 8 Pages
II. Names of Directors and Executive Officers of: PARSIMONY LIMITED
Directors: Business Address:
- ---------- -------------------
Maria Vittoria Padulli Piermont House
33/35 Pier Road
St. Helier, Jersey
Channel Islands
Officers Address
- --------- -----------
Luka Padulli 33/35 Pier Road, St. Helier, Jersey, Channel Islands
Richard Hutchings 33/35 Pier Road, St. Helier, Jersey, Channel Islands
Rod Morley 33/35 Pier Road, St. Helier, Jersey, Channel Islands
Maria Vittoria Padulli 33/35 Pier Road, St. Helier, Jersey, Channel Islands
Citizenship:
- ---------------
Luka Padulli Italy
Richard Hutchings United Kingdom
Rod Morley United Kingdom
Maria Vittoria Padulli Italy
None of the Directors or Executive Officers of the Reporting Person, listed
above, has, during the last five years, been convicted in any criminal
proceeding and has not and is not subject to any judgment, decree or final order
as a result of any civil proceeding, enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate purchase price of the Common Stock purchased by Parsimony
Limited was $14,424,000. The shares were purchased in open market brokerage
transactions. All of the funds required for these purchases were obtained from
the working capital of Parsimony Limited.
Item 4. Purpose of Transaction.
The purpose of the transactions is for the Reporting Person to hold a long
term interest in the capital of the Issuer. The Reporting Person acquired the
shares in the ordinary course of its business.
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Page 5 of 8 Pages
Except as provided above, the Reporting Person has no plans or proposals
which relate to or would result in:
(a) The acquisition by any person of additional securities of the Issuer, or
the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger, reorganization or
liquidation involving, the Issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries;
(d) Any change in the present board of directors or management of the Issuer,
including any plans or proposals to change the number of term of directors
or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy of the
Issuer;
(f) Any other material change in the Issuer's business or corporate structure
including but not limited to, if the Issuer is a registered closed-end
investment company, any plans or proposals to make any changes in its
investment policy for which a vote is required by section 13 of the
Investment Company Act of 1940;
(g) Changes in the Issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
Issuer by any person;
(h) Causing a class of securities of the Issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of the Issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
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Page 6 of 8 Pages
Item 5. Interest in Securities of the Issuer.
(a) Amount beneficially owned and percentage of class
As of the date hereof and subject to the arrangements described in item 6
below, the Reporting Person is the direct beneficial owner of 403,500 shares of
the Common Stock of the Issuer, representing approximately 6.6% of the issued
and outstanding shares of the Common Stock of the Issuer.
(b) Number of shares as to which the Reporting Person has:
(i) Sole power to vote or direct the vote: 403,500
(ii) shared power to vote or direct the vote: 0
(iii) sole power to dispose or direct disposition: 403,500
(iv) shared power to dispose or to direct disposition: 0
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Page 7 of 8 Pages
(c) Other than the acquisition of the 403,500 shares of Common Stock, the
Reporting Person has not effected any transactions in the Common Stock in
the past sixty days.
To the best knowledge of the Corporation, none of its executive officers or
director has effected any transactions in the Common Stock of the Issuer in
the past 60 days.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
None
Item 7. Material to be Filed as Exhibits.
None
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
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Page 8 of 8 Pages
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we certify
that the information set forth in this statement is true, complete and correct.
Pursuant to Rule 13d-1(f)(i), we agree that this statement is filed on behalf of
each of us.
Dated: March 13, 2000
PARSIMONY LIMITED
By: /s/ RICHARD HUTCHINGS
Richard Hutchings, authorized signatory
Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).
