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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Little Switzerland, Inc.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
537528-10-1
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(CUSIP Number)
C. William Carey
c/o Carey Associates, Inc.
150 Federal Street, 12th Floor
Boston, MA 02110
(617) 428-6811
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 24, 1999
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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.[_].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for the 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 1 of 6 pages
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SCHEDULE 13D
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CUSIP NO. 537528-10-1 13D Page 1 of 6 Pages
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
C. William Carey 015265732
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
PF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
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NUMBER OF SOLE VOTING POWER
7
SHARES
515,000
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SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
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EACH SOLE DISPOSITIVE POWER
9
REPORTING
515,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
515,000
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.0%
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TYPE OF REPORTING PERSON*
14
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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Item 1. Security and Issuer
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This statement on Schedule 13D relates to the common stock, $.01 par
value per share of Little Switzerland, Inc. ("Little Switzerland").
Little Switzerland's principal executive offices are located at 161-B
Crown Bay Cruise Ship Port, P.O. Box 930, St. Thomas, Virgin Islands,
00802.
Item 2. Identity and Background
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(a) This statement is filed by C. William Carey sometimes referred to
herein as the "Reporting Person."
(b) The business address of the Reporting Person is Carey Associates,
Inc., 150 Federal Street, 12th Floor, Boston, MA 02110.
(c) The Reporting Person is the President of the corporation
described in Item 2(b).
(d) During the last five years, the Reporting Person has not been
convicted in a criminal proceeding.
(e) During the last five years, the Reporting Person was not a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or
is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws on finding any violation with
respect to such laws.
(f) The Reporting Person is a United States citizen.
Item 3. Source and Amount of Funds or Other Consideration
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On August 24, 1999, the Reporting Person purchased 150,000 shares of
Common Stock at an aggregate cost of $72,000 from funds held with
SouthEast Research.
Item 4. Purpose of Transaction
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The Reporting Person has, at this time, acquired his shares of Common
Stock for the purpose of investment. The Reporting Person is
evaluating, and expects to continue to evaluate, his perception of the
investment potential of the Common Stock, and depending on various
factors including the results of such evaluations, the Reporting
Person may in the
Page 4 of 6 pages
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future take such actions with respect to such holdings in Little
Switzerland as he deems appropriate in light of the circumstances that
exist from time to time. Such actions may include the purchase of
additional shares of Common Stock in the open market, through
privately negotiated transactions with third parties or otherwise, or
the sale at any time, in the open market, through privately negotiated
transactions with third parties or otherwise, of all or a portion of
the Common Stock now owned or hereafter acquired by him.
Item 5. Interest in Securities of the Issuer
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(a) As of August 24, 1999, the Reporting Person was the beneficial
owner of 515,000 shares of Common Stock. Based upon 8,624,516
shares of Common Stock outstanding, the Reporting Person owns
6.0% of Little Switzerland's outstanding shares.
(b) The Reporting Person has sole power to vote and to dispose of the
shares of Common Stock beneficially owned by him.
(c) On August 19, 1999, the Reporting Person purchased 150,000 shares
of Common Stock at an aggregate cost of $68,625 from funds held
with SouthEast Research.
(d) No other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of,
such securities.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
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to Securities of the Issuer
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There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between the person named in Item 2 and any person
with respect to any securities of Little Switzerland.
Item 7. Material to be Filed as Exhibits
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None.
Page 5 of 6 pages
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Signature
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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.
Dated: August 31, 1999 /s/ C. William Carey
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C. William Carey
Page 6 of 6 pages
