UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
LITTLE SWITZERLAND, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
537528101
(CUSIP Number)
-------------------------------
MR. MARK B. BAKAR
VALUEVEST PARTNERS L.P.
1 SANSOME STREET
39TH FLOOR
SAN FRANCISCO, CA 94104
(415) 288-2460
(Name, Address, Telephone Number of Person Authorized to Receive Notices and
Communications)
-------------------------------
JULY 26, 1997
(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 <square>.
Note. Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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
<PAGE>
SCHEDULE 13D
CUSIP NO. 537528101 PAGE 2 OF 5 PAGES
<TABLE>
<CAPTION>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON; S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ValueVest Partners L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) <checked-box>
(B) <square>
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) <square>
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Organized as a limited partnership in California
7 SOLE VOTING POWER 395,300 common shares
NUMBER OF
SHARES 8 SHARED VOTING POWER 0
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER 395,300 common shares
WITH
10 SHARED DISPOSITIVE POWER 0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
395,300 common shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* NO <square>
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.67%
14 TYPE OF REPORTING PERSON* PN
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE
<PAGE>
SCHEDULE 13D
CUSIP NO. 537528101 PAGE 3 OF 5 PAGES
<TABLE>
<CAPTION>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON; S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Donald L. Sturm
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) <checked-box>
(B) <square>
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) <square>
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
7 SOLE VOTING POWER 442,100 common shares
NUMBER OF
SHARES 8 SHARED VOTING POWER 0
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER 442,100 common shares
WITH
10 SHARED DISPOSITIVE POWER 0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
442,100 common shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* NO <square>
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.22%
14 TYPE OF REPORTING PERSON* IN
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE
<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 13D
This Amendment No. 1, which is being filed jointly by ValueVest Partners
L.P. ("ValueVest") and Donald L. Sturm ("Sturm") (collectively, the "Reporting
Persons"), supplements and amends the Statement on Schedule 13D originally
filed jointly by the Reporting Persons with the Commission on May 5, 1997 (the
"Statement"), by adding a new second paragraph to "Item 4. Purpose of the
Transaction," which states the following:
On July 14, 1997, Sturm filed with the Issuer a Notice of Nomination in
which he nominated himself and Richard C. Hunter as candidates for election to
the Board of Directors of the Issuer. On July 26, 1997, the Issuer sent Sturm
a letter stating that he had not complied with the procedures required under
the Bylaws of the Issuer in order to make a valid director nomination, because
the Issuer's transfer agent had confirmed that Sturm was not, as of the date of
the Notice of Nomination, and is not currently, a record stockholder of the
Issuer. Sturm's shares are held in his account with the Bank of Cherry Creek,
N.A. - Trust Department, Denver, Colorado 80207.
4
PAGE
<PAGE>
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.
Date: August 4, 1997
VALUEVEST PARTNERS L.P.
By: ValueVest Management Company, LLC
its General Partner
By:/S/ MARK B. BAKAR
------------------------------
Name: Mark B. Bakar
Title: President
/S/ DONALD L. STURM
-------------------------------------
Donald L. Sturm
5
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