SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. 1)
ASA Limited
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $1.00 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
G3156P103
--------------------------------------------------------------------------------
(CUSIP Number)
Andrew Pegge
Laxey Partners Limited
The Old Chapel
Onchan
Isle of Man IM3 INA
+44 1624 690900
With a copy to:
Marc Weingarten, Esq.
David Rosewater, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, New York 10022
(212) 756-2000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 1, 2008
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
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.
(Continued on following pages)
(Page 2 of 21 Pages)
--------------------------
* 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)
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 3 OF 21 PAGES
-------------------------------- ------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAXEY INVESTORS LIMITED
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 109,434
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
109,434
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
109,434
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 4 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THE VALUE CATALYST FUND LIMITED
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 57,756
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
57,756
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
57,756
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 5 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAXEY UNIVERSAL VALUE, L.P.
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 89,640
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
89,640
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
89,640
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 6 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAXC LIMITED
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 36,413
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
36,413
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
36,413
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 7 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LEAF LIMITED
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 8,183
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
8,183
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
8,183
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 8 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LP ALTERNATIVE, L.P.
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 52,395
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
52,395
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
52,395
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 9 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LEAF, L.P.
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 7,590
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,590
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
7,590
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 10 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ALTMA SICAV PLC IN RESPECT OF GARDINER SUB-FUND
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
MALTA
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 116,479
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
116,479
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
116,479
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 11 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SPRUGOS INVESTMENTS XII, L.L.C.
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 94,190
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
94,190
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
94,190
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 12 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAXEY INVESTORS, LP
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 11,056
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,056
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
11,056
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 13 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LP VALUE LTD
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 33,989
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,989
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
33,989
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 14 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAXEY PARTNERS LIMITED
NO I.R.S. IDENTIFICATION NO.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
ISLE OF MAN
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 617,125
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
617,125
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
617,125
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 15 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
COLIN KINGSNORTH
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED KINGDOM
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 617,125
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
617,125
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
617,125
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 16 OF 21 PAGES
-------------------------------- ------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ANDREW PEGGE
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED KINGDOM
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 617,125
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
617,125
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
617,125
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[X]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------------- ------------------------
CUSIP NO. G3156P103 SCHEDULE 13D PAGE 17 OF 21 PAGES
-------------------------------- ------------------------
The Schedule 13D filed on November 23, 2007 (the "Schedule 13D") by Laxey
Investors Limited, a British Virgin Islands company ("LIL"), The Value Catalyst
Fund Limited, a Cayman Islands company ("Catalyst"), Laxey Universal Value,
L.P., a Delaware limited partnership ("LUV"), LAXC Limited, a British Virgin
Islands company ("LAXC"), Leaf Limited, a British Virgin Islands company,
("LEAF"), LP Alternative, L.P., a Delaware limited partnership ("LPALP"), Leaf,
L.P., a Delaware limited partnership ("LEAFLP", and collectively with LIL, VCF,
LUV, LAXC, LEAF and LPALP, the "Funds"), Altma Sicav Plc (in respect of Gardiner
Sub-Fund), a Malta company ("Altma"), Sprugos Investments XII, L.L.C., a
Delaware limited liability company ("SPRUGOS", and collectively with Altma, the
"Accounts"), Laxey Partners Limited, an Isle of Man company ("Laxey"), Colin
Kingsnorth, a British citizen ("Kingsnorth"), and Andrew Pegge, a British
citizen relating to the shares ("Shares") of common stock, par value $1.00 per
share, of ASA Limited (the "Issuer"), is hereby amended as set forth below by
this Amendment No.1 to the Schedule 13D.
Item 2. Identity and Background
Paragraphs (a)-(c) of Item 2 of the Schedule 13D are hereby amended and
supplemented as follows:
(a)-(c) This statement is being filed jointly by (i) Laxey Investors
Limited, a British Virgin Islands company ("LIL"), (ii) The Value Catalyst Fund
Limited, a Cayman Islands company ("Catalyst"), (iii) Laxey Universal Value,
L.P., a Delaware limited partnership ("LUV"), (iv) LAXC Limited, a British
Virgin Islands company ("LAXC"), (v) Leaf Limited, a British Virgin Islands
company ("LEAF"), (vi) LP Alternative, L.P., a Delaware limited partnership
("LPALP"), (vii) Leaf, L.P., a Delaware limited partnership ("LEAFLP"), (viii)
Laxey Investors, LP, a Delaware limited partnership ("LLP"), (ix) LP Value Ltd,
a British Virgin Islands company ("LPV" and collectively with LIL, Catalyst,
LUV, LAXC, LEAF, LPALP and LLP the "Funds"), (x) Altma Sicav Plc (in respect of
Gardiner Sub-Fund), a Malta company ("Altma"), (xi) Sprugos Investments XII,
L.L.C., a Delaware limited liability company ("SPRUGOS", and collectively with
Altma, the "Accounts"), (xii) Laxey Partners Limited, an Isle of Man company
("Laxey"), (xiii) Colin Kingsnorth, a British citizen ("Kingsnorth"), and (xiv)
Andrew Pegge, a British citizen ("Pegge", and, collectively with the Funds, the
Accounts, Laxey and Kingsnorth, the "Reporting Persons").
LLP is a Delaware limited partnership whose principal business is investing
in closed-end funds and similar investment entities. The general partner of LLP
is Laxey Partners GP Limited, a British Virgin Islands company and wholly-owned
subsidiary of Laxey Partners, the investment manager of LLP. The address of
LLP's principal business and principal office is The Corporation Trust Center,
1209 Orange Street, Wilmington, New Castle County, Delaware 19801, United
States.
LPV is a British Virgin Islands company whose principal business is
investing in closed-end funds and similar investment entities. The address of
LPV's principal business and principal office is Craigmuir Chambers, P.O. Box
71, Road Town, Tortola, British Virgin Islands.
Item 3. Source and Amount of Funds or Other Consideration
The second sentence of Item 3 of the Schedule 13D is hereby amended as
follows:
A total of approximately $40,935,700 was paid to acquire such Shares.
Item 4. Purpose of Transaction
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CUSIP NO. G3156P103 SCHEDULE 13D PAGE 18 OF 21 PAGES
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The third paragraph of Item 4 of the Schedule 13D is hereby amended as
follows:
The Issuer has included the proposal regarding the self tender offer for
30% of the outstanding Shares of the Issuer but has not included the nominations
of Mr. Pegge, Mr. Reid or Mr. Goldstein in the Issuer's definitive proxy
statement for its 2008 annual general meeting. In addition, the Reporting
Persons and certain related parties filed a preliminary proxy statement with the
Securities and Exchange Commission on January 25, 2008 and a definitive proxy
statement with the Securities and Exchange Commission on February 6, 2008, in
each case relating to the solicitation of proxies in connection with the
Issuer's 2008 annual general meeting, in which they seek support from the
shareholders to approve the two proposals listed in the preceding paragraph.
Item 5. Interest in Securities of the Issuer
Paragraphs (a) and (c) of Item 5 of the Schedule 13D are hereby amended as
follows:
(a) The Reporting Persons beneficially own 617,125 Shares, constituting
approximately 6.4% of the Shares outstanding.
The aggregate percentage of Shares beneficially owned by the Reporting
Persons is based upon 9,600,000 Shares outstanding, which is the total number of
Shares outstanding as reported in the Issuer's Definitive Proxy Statement, filed
with the Securities and Exchange Commission on January 30, 2008.
(c) Information concerning transactions in the Shares effected by the
Reporting Persons since the filing of the Schedule 13D is set forth in Appendix
A hereto and is incorporated herein by reference.
Item 6. Contracts, Arrangements Understandings or Relationships with
Respect to Securities of the Issuer
The third sentence of the first paragraph of Item 6 is hereby amended as
follows:
In addition to the Shares that they beneficially own without reference to
these contracts, the Reporting Persons currently have long economic exposure to
391,725 Shares through such contracts, and no short economic exposure to any
Shares through such contracts.
The fourth sentence of the first paragraph of Item 6 is hereby deleted.
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CUSIP NO. G3156P103 SCHEDULE 13D PAGE 19 OF 21 PAGES
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SIGNATURES
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: February 6, 2008
LAXEY PARTNERS LIMITED
By: /s/ Andrew Pegge
--------------------------------
Name: Andrew Pegge
Title: Authorized Signatory
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CUSIP NO. G3156P103 SCHEDULE 13D PAGE 20 OF 21 PAGES
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APPENDIX A
TRANSACTIONS IN THE SHARES EFFECTED BY THE
REPORTING PERSONS SINCE THE FILING OF THE SCHEDULE 13D
(UNLESS OTHERWISE STATED, ALL TRANSACTIONS WERE EFFECTED IN THE OPEN MARKET)
Catalyst
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/21/2007 2,702 $69.79
12/27/2007 4,600 73.55
12/28/2007 5,700 75.50
01/03/2008 2,078 80.27
01/04/2008 3,397 80.19
01/07/2008 5,925 78.51
01/10/2008 1,385 81.86
01/14/2008 2,464 83.80
01/31/2008 2,940 79.34
02/01/2008 4,880 79.80
02/04/2008 7,035 79.45
LAXC
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/20/2007 6,905 $66.92
01/11/2008 5,000 83.51
01/31/2008 892 79.34
02/01/2008 1,481 79.80
02/04/2008 2,135 79.45
LEAF
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/21/2007 211 $69.79
12/28/2007 600 75.50
01/03/2008 289 80.27
01/04/2008 264 80.19
01/07/2008 462 78.51
02/01/2008 383 79.80
02/04/2008 552 79.45
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CUSIP NO. G3156P103 SCHEDULE 13D PAGE 21 OF 21 PAGES
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LPALP
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/21/2007 780 $69.79
12/27/2007 1,900 73.55
12/28/2007 2,000 75.50
01/04/2008 981 80.19
01/07/2008 1,711 78.51
01/31/2008 861 79.34
02/01/2008 1,428 79.80
02/04/2008 2,059 79.45
LLP
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/21/2007 1,024 $69.79
12/27/2007 2,500 73.55
12/28/2007 2,000 75.50
01/03/2008 972 80.27
01/04/2008 1,288 80.19
01/07/2008 2,246 78.51
01/10/2008 526 81.86
LPV
Date of Trade Shares Purchased (Sold) Price per Share
------------- ----------------------- ---------------
12/21/2007 2,123 $69.79
12/27/2007 3,000 73.55
12/28/2008 4,700 75.50
01/03/2008 2,161 80.27
01/04/2008 2,670 80.19
01/07/2008 4,656 78.51
01/10/2008 1,089 81.86
01/14/2008 1,936 83.80
01/31/2008 2,307 79.34
02/01/2008 3,828 79.80
02/04/2008 5,519 79.45