SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)
AG BAG INTERNATIONAL, LTD
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
00 1077-10-6
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(CUSIP Number)
April 05, 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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CUSIP No. 00 1077-10-6 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
Chelverton Fund Limited
I.R.S. Identification No. of Above Person (entities only)
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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NUMBER OF 5 SOLE VOTING POWER
SHARES 665,000 (see Note A)
BENEFICIALLY
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING N/A
PERSON
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
665,000 (see Note A)
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8 SHARED DISPOSITIVE POWER
N/A
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
665,000 (see Note A)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
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ITEM 1 (a) NAME OF ISSUER
AG BAG INTERNATIONAL, LTD.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
2320 SE AG-BAG Lane
Warrenton, Oregon 97146
ITEM 2 (a) NAME OF PERSON FILING
CHELVERTON FUND LIMITED
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
Craigmuir Chambers
P.O. Box 71, Road Town
Tortola, British Virgin Islands
(c) CITIZENSHIP
British Virgin Islands
(d) TITLE OF CLASS OF SECURITIES
Common Stock, $.01 par value
(e) CUSIP NUMBER
00 1077-10-6
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ITEM 3 If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
(a) |_| Broker or dealer registered under section 15 of the Act
(b) |_| Bank as defined in section 3(a)(6) of the Act
(c) |_| Insurance company as defined in section 3(a)(19) of the Act
(d) |_| Investment company registered under section 8 of the Investment
Company Act of 1940
(e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
(f) |_| An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F)
(g) |_| A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G)
(h) |_| A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act
(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
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to Rule 13d-1(c), check this box [ x ]
ITEM 4 OWNERSHIP
(a) Amount beneficially owned:
665,000 (see Note A)
(b) Percent of class:
5.5%
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(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
665,000 (see Note A)
(ii) Shared power to vote or to direct the vote:
N/A
(iii) Sole power to dispose or to direct the disposition of:
665,000 (see Note A)
(iv) Shared power to dispose or to direct the disposition of:
N/A
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following |_|
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
N/A
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
N/A
ITEM 9 NOTICE OF DISSOLUTION OF GROUP
N/A
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 are not
being 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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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
April 7, 2000
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(Date)
CHELVERTON FUND LIMITED .
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(Signature)
By: /s/ James Morton
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James Morton
Its Investment Director
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on behalf of European American
Securities Inc., Manager of the
Chelverton Fund Limited
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NOTE A
Based on information provided by the Issuer, there are currently outstanding
12,061,991 shares of the Common Stock of the Issuer.
Reporting Person currently owns 665,000 shares of the Common Stock of the
Issuer.
The Reporting Person holds no Warrants to Purchase shares of Common Stock
The Reporting Person's total shares of Common Stock are 665,000 shares (5.5%).
