UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
VIRGINIA GAS COMPANY
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(Name of Issuer)
Common Stock, par value $.001 per share
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(Title of Class of Securities)
927814103
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(CUSIP Number)
Lawrence E. Auriana, Chairman
The Kaufmann Fund, Inc.
140 East 45th Street, 43rd Floor NY, NY
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 26, 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(e), (f) or (g), check the following box [X]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 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 ("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>
SCHEDULE 13D
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CUSIP No. 927814103 Page 2 of 7 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Kaufmann Fund, Inc. ID No. 13-2605091
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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
Maryland
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NUMBER OF SHARES 7. SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 593,000
PERSON WITH ---------------------------------------------
8. SHARED VOTING POWER
None
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9. SOLE DISPOSITIVE POWER
593,000
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10. SHARED DISPOSITIVE POWER
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
593,000
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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)
10.78%
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14. TYPE OF REPORTING PERSON*
IV
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<PAGE>
SCHEDULE 13D
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CUSIP No. 927814103 Page 3 of 7 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Edgemont Asset Management Corporation ID No. 13-3336194
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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
New York
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NUMBER OF SHARES 7. SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING None
PERSON WITH ---------------------------------------------
8. SHARED VOTING POWER
593,000
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9. SOLE DISPOSITIVE POWER
None
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10. SHARED DISPOSITIVE POWER
593,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
593,000
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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)
10.78%
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14. TYPE OF REPORTING PERSON*
IA
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<PAGE>
SCHEDULE 13D
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CUSIP No. 42220K101 Page 4 of 7 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Lawrence E. Auriana
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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*
PF
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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
Connecticut
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NUMBER OF SHARES 7. SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 244,200
PERSON WITH ------------------------------------
8. SHARED VOTING POWER
593,000
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9. SOLE DISPOSITIVE POWER
244,200
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10. SHARED DISPOSITIVE POWER
593,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
837,200
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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)
15.2%
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14. TYPE OF REPORTING PERSON*
IN
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<PAGE>
ITEM 1. SECURITY AND ISSUER.
This Statement relates to the common stock, par value $.001 ("Common
Stock"), of VIRGINIA GAS COMPANY (the "Issuer"). The principal executive offices
of the Issuer are located at 200 East Main Street, Abingdon, VA 24210.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this Statement ("Reporting Persons") are The Kaufmann
Fund, Inc., a Maryland corporation, Edgemont Asset Management Corporation, a New
York Corporation ("Edgemont"), and Lawrence E. Auriana, a controlling
shareholder of Edgemont. The principal office or business address of each
Reporting Person is 140 E. 45th Street, 43rd Floor, New York, New York 10017.
The principal business of The Kaufmann Fund is investing in securities as an
open-end investment company, and the principal business of Edgemont is providing
management and investment advisory services to The Kaufmann Fund. Mr. Auriana's
principal occupation is serving as Chairman of The Kaufmann Fund and President
of Edgemont. Mr. Auriana is a U.S. citizen.
During the last five years, none of the Reporting Persons have been
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors) or been a party to any civil proceeding and as a result thereof
were or are subject to any judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
The funds used by The Kaufmann Fund to acquire the Common Stock came from
the Fund's working capital, and the funds used by Lawrence Auriana to acquire
his holdings of the Common Stock came from his personal assets.
ITEM 4. PURPOSE OF TRANSACTION
The Kaufmann Fund acquired its shares of the Common Stock in the ordinary
course of business for investment purposes. Mr. Auriana acquired his personal
holdings of the Common Stock for investment purposes. On August 19, 1999, The
Kaufmann Fund filed a Schedule 13G pursuant to Rule 13d-1(c). This Schedule 13D
is being filed pursuant to Rule 13d-1(e)(i). The Reporting Persons are currently
evaluating possible courses of action they might take with respect to their
interests in the Issuer's Common Stock. They have not yet made any decisions
about such courses of action. The Reporting Persons will consider a variety of
factors in determining their courses of action including, but not limited to,
the Issuer's business and prospects, other developments concerning the Issuer
and the Issuer's industries generally, other business opportunities available to
the Reporting Persons and other developments with respect to the business of the
Reporting Persons, general economic conditions and monetary and stock market
conditions, including the market price of the Common Stock. The Reporting
Persons will consider the feasibility and advisability of various alternative
courses of action, and the Reporting Persons reserve the right (i) to hold their
shares of Common Stock as passive investors or as active investors (whether or
not as a member of a group with other beneficial owners of the Common Stock or
otherwise), (ii) to form a group with other beneficial owners of Common Stock,
(iii) to acquire beneficial ownership of additional shares of Common Stock in
the open market, in privately negotiated transactions or otherwise, (iv) to
dispose of all or part of their holdings of Common Stock, (v) to take other
actions which could involve one or more of the types of transactions or have one
or more of the results described in the next paragraph of this Item 4, or (vi)
to change their intention with respect to any or all of the matters referred to
in this Item 4.
<PAGE>
Other than as described above, the Reporting Persons have no present 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 or terms 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; (g)
changes in the Issuer's charter, by-laws 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 deleted from a
national securities exchange or to cease to be authorized to be quoted in any
inter-dealer quotation system or 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 Exchange Act; or (j) any
action similar to any of those enumerated above.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date of this Statement, The Kaufmann Fund beneficially owns,
and Edgemont and Mr. Auriana are deemed to beneficially own, 593,000 shares of
the Common Stock of the Issuer, representing approximately 10.78% of the Common
Stock currently outstanding. Additionally, Mr. Auriana personally owns another
244,200 shares of the Common Stock outstanding, which makes him a beneficial
owner in the aggregate of 4.43% of the Common Stock currently outstanding.
(b) The Kaufmann Fund has sole voting and dispositive power with respect to
593,000 shares of the Common Stock. Each of Edgemont and Mr. Auriana have shared
voting and dispositive power with respect to the Fund's 593,000 shares of the
Common Stock. Mr. Auriana has sole voting and dispositive power with respect to
244,200 shares.
(c) None of The Kaufmann Fund, Edgemont or Mr. Auriana have effected
transactions in the Common Stock during the past sixty days.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
(a) Joint Filing Agreement
<PAGE>
SIGNATURE
After due inquiry, to the best of our knowledge and belief, we certify that
the information set forth in this statement is true, complete and correct.
Dated: June 26, 2000
The Kaufmann Fund, Inc.
By: /s/ Hans P. Utsch
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Hans P. Utsch, President
Edgemont Asset Management Corporation
By: /s/ Lawrence E. Auriana
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Lawrence E. Auriana, President
/s/ Lawrence E. Auriana
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Lawrence E. Auriana
