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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(AMENDMENT NO. )
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PriceSmart, Inc.
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(Name of Issuer)
Common Stock $0.0001 par value
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(Title of Class of Securities)
741511109
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(CUSIP Number)
July 7, 2000
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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:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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* 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 of 1934 ("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).
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CUSIP NO. 741511109 13G PAGE 2 OF 11 PAGES
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
PSC, S.A.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Panama
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(5) SOLE VOTING POWER
NUMBER OF 679,500
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 679,500
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,500
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
DO NOT CHECK BOX
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.89%
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(12) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 741511109 13G PAGE 3 OF 11 PAGES
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Edgar Zurcher
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Costa Rica
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(5) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 679,500
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
679,500
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,500
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
DO NOT CHECK BOX
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.89%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 741511109 13G PAGE 4 OF 11 PAGES
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mario Rapaccioli
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Nicaraguaa
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(5) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 679,500
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
679,500
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,500
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
DO NOT CHECK BOX
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.89%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 741511109 13G PAGE 5 OF 11 PAGES
--------------------- ----- -----
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
John Keith
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Costa Rica
---------------------------------------------------------------------
(5) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 679,500
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
679,500
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,500
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
DO NOT CHECK BOX
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.89%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 741511109 13G PAGE 6 OF 11 PAGES
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Alberto Bonetti
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Dominican Republic
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(5) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 679,500
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
679,500
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,500
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
DO NOT CHECK BOX
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.89%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 741511109 13G PAGE 7 OF 11 PAGES
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[ ] ITEM 1 (A) NAME OF ISSUER:
PriceSmart, Inc. (the "Issuer").
[ ] ITEM 1 (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
4649 Morena Boulevard, San Diego, California 92117
ITEM 2 (A) NAME OF PERSON FILING:
The names of the persons filing this statement (the "Reporting
Persons") are PSC, S.A. ("PSC"), Edgar Zurcher, Mario Rapaccioli, John Keith
and Alberto Bonetti.
ITEM 2 (B) ADDRESS OF PRINCIPAL OFFICE:
The address of the principal office of each of the Reporting Persons is
P.O. Box 0832-1384 World Trade Center, Panama, Republic of Panama.
ITEM 2 (C) CITIZENSHIP:
PSC is a Panama corporation. Messrs. Zurcher, Rapaccioli, Keith and
Bonetti are citizens of Costa Rica, Nicaragua, Costa Rica and Dominican
Republic, respectively.
ITEM 2 (D) TITLE OF CLASS OF SECURITIES:
This statement relates to Common Stock, $0.0001 par value of the Issuer
("Common Stock").
ITEM 2 (E) CUSIP NUMBER: 741511 10 9
ITEM 3 If this statement is filed pursuant to Rule 13d-1(b), or Rule
13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
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CUSIP NO. 741511109 13G PAGE 8 OF 11 PAGES
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(e) [ ] An investment advisor in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(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
(15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Item 4. OWNERSHIP:
(a)-(b) The Reporting Persons have been advised by the Issuer that, as
of July 7, 2000, there were 6,238,264 shares of Common Stock issued and
outstanding. PSC beneficially owns 679,500 shares of Common Stock (the "Shares")
which represents approximately 10.89% of the Common Stock issued and outstanding
as of July 7, 2000. Each of Messrs. Zurcher, Rapaccioli, Keith and Bonetti,
through their relationship as director-shareholders of PSC, may be deemed to
beneficially own all of such 679,500 Shares, representing approximately 10.89%
of the Common Stock issued and outstanding as of July 7, 2000, since Messrs.
Zurcher, Rapaccioli, Keith and Bonetti have shared power to dispose or direct
the disposition of and the shared power to vote or direct the vote of the
Shares.
(c) PSC has sole power to dispose or direct the disposition of and the
sole power to vote or direct the vote of the 679,500 Shares. Messrs. Zurcher,
Rapaccioli, Keith and Bonetti have the shared power to dispose or direct the
disposition of and the shared power to vote or direct the vote of the 679,500
Shares.
Messrs. Zurcher, Rapaccioli, Keith and Bonetti expressly declare that the filing
of this statement on Schedule 13G shall not be construed as an admission that
they are, for the purposes of Section 13(d) or 13(g) of the Securities and
Exchange Act of 1934, the beneficial owners of any securities covered by this
statement.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
This item is not applicable.
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CUSIP NO. 741511109 13G PAGE 9 OF 11 PAGES
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ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
No other persons have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, the Shares held
by the Reporting Persons.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARIES WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
This item is not applicable.
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP.
See Exhibit A attached hereto.
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
This item is not applicable.
ITEM 10 CERTIFICATION.
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.
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CUSIP NO. 741511109 13G PAGE 10 OF 11 PAGES
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: July 7, 2000
PSC, S.A.
By: /s/ Edgar Zurcher
----------------------------
Name: Edgar Zurcher
Title: President and General Manager
/s/ Edgar Zurcher
--------------------------------
Edgar Zurcher
/s/ Mario Rapaccioli
--------------------------------
Mario Rapaccioli
/s/ John Keith
--------------------------------
John Keith
/s/ Alberto Bonetti
--------------------------------
Alberto Bonetti
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CUSIP NO. 741511109 13G PAGE 11 OF 11 PAGES
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EXHIBIT A
Agreement Relating to the Filing
of Joint Statements on Schedule 13G
Pursuant to Rule 13d-1(k)
It is agreed among the undersigned that the Schedule 13G Statement to which
this document is attached as Exhibit A is filed on behalf of each of the
undersigned as provided in Rule 13d-1(k) of the General Rules and Regulations of
the Securities and Exchange Commission pursuant to the Securities Exchange Act
of 1934, as amended.
Dated: July 7, 2000
PSC, S.A.
By: /s/ Edgar Zurcher
----------------------------------
Name: Edgar Zurcher
Title: President and General Manager
/s/ Edgar Zurcher
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Edgar Zurcher
/s/ Mario Rapaccioli
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Mario Rapaccioli
/s/ John Keith
--------------------------------------
John Keith
/s/ Alberto Bonetti
--------------------------------------
Alberto Bonetti
