-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LLtvsbhmTtS+H/+eOEW6n6LLsGacL2h1Jk4ki+CTDPWokuH9+n4HDQ472/yXv1cO 43NALWiBSom+Zcsfyn23vw== 0000080255-05-000546.txt : 20050620 0000080255-05-000546.hdr.sgml : 20050617 20050620173012 ACCESSION NUMBER: 0000080255-05-000546 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050620 DATE AS OF CHANGE: 20050620 GROUP MEMBERS: TRP SMALL CAP VALUE CIK# 0000834798 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN WATER CO CENTRAL INDEX KEY: 0000866671 STANDARD INDUSTRIAL CLASSIFICATION: MINERAL ROYALTY TRADERS [6795] IRS NUMBER: 330085833 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-41217 FILM NUMBER: 05906644 BUSINESS ADDRESS: STREET 1: 102 WASHINGTON AVE CITY: POINT RICHMOND STATE: CA ZIP: 94801 BUSINESS PHONE: 6195359282 MAIL ADDRESS: STREET 1: 102 WASHINGTON AVE CITY: POINT RICHMOND STATE: CA ZIP: 94801 FORMER COMPANY: FORMER CONFORMED NAME: YG DEVELOPMENT CO DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRICE T ROWE ASSOCIATES INC /MD/ CENTRAL INDEX KEY: 0000080255 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200] IRS NUMBER: 520556948 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 100 EAST PRATT ST CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: (410)345- MAIL ADDRESS: STREET 1: P.O. BOX 89000 CITY: BALTIMORE STATE: MD ZIP: 21289 SC 13D 1 wwtr.txt WWTR JUNE 9 2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13D Under the Securities Exchange Act of 1934 (Amendment No. )* WESTERN WATER COMPANY _______________________________________________________ (Name of Issuer) COMMON STOCK _______________________________________________________ (Title of Class of Securities) 959881103 _______________________________________________________ (CUSIP Number) Henry H. Hopkins T. Rowe Price Associates, Inc. 100 East Pratt Street - 8th Floor Baltimore, Maryland 21202 410-345-6640 _______________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 9, 2005 _______________________________________________________ (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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(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 Section 240.13d-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). CUSIP No. 959881103 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON T. ROWE PRICE ASSOCIATES, INC. 52-0556948 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) NOT APPLICABLE (b) NOT APPLICABLE 3 SEC USE ONLY _________________________________________ 4 SOURCE OF FUNDS* OTHER 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION MARYLAND Number of 7 SOLE VOTING POWER 104,200 Shares Beneficially 8 SHARED VOTING POWER NONE Owned By Each Reporting 9 SOLE DISPOSITIVE POWER 1,040,524 Person With: 10 SHARED DISPOSITIVE POWER NONE 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,040,524 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.4% 14 TYPE OF REPORTING PERSON* 1A *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 959881103 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON T. ROWE PRICE SMALL-CAP VALUE FUND, INC. 52-1575325 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) NOT APPLICABLE (b) NOT APPLICABLE 3 SEC USE ONLY _________________________________________ 4 SOURCE OF FUNDS* WORKING CAPITAL 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION MARYLAND Number of 7 SOLE VOTING POWER 800,412 Shares Beneficially 8 SHARED VOTING POWER NONE Owned By Each Reporting 9 SOLE DISPOSITIVE POWER NONE Person With: 10 SHARED DISPOSITIVE POWER NONE 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 800,412 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.5% 14 TYPE OF REPORTING PERSON* IV Item 1. Security and Issuer. This Statement relates to shares of common stock (the Common Stock), and shares of the Series C Convertible Redeemable Preferred stock paying dividends of $72.50 per year (the Preferred Stock) of Western Water Company (the Issuer). The Issuer's principal executive offices are located at 102 Washington Avenue, Point Richmond, California 94801. Item 2. Identity and Background. (a) - (c), (f) This statement is being filed by T. Rowe Price Associates, Inc., a Maryland corporation (the Adviser), with its principal business office being located at 100 East Pratt Street, Baltimore, Maryland 21202. The Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and is engaged in the business of rendering investment advisory, sub-advisory and supervisory services to investment companies registered under the Investment Company Act of 1940, as amended, as well as to individually managed accounts for institutional and other clients (the Accounts). Attached as Schedule A hereto and incorporated herein by reference is a table setting forth all of the executive officers and directors of the Adviser and the business address, principal occupation and citizenship of each such person. The Adviser is a wholly-owned subsidiary of T. Rowe Price Group, Inc., a public corporation. (d) During the last five years, neither the Adviser nor any of the specifically named persons listed on Schedule A hereto has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, neither the Adviser nor any of the specifically named persons listed on Schedule A hereto has been 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 or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The 104,200 shares of Common Stock heretofore acquired on behalf of Accounts managed by the Adviser on a discretionary basis were acquired for the aggregate purchase price of $1,470,537.25, using the funds of the respective Accounts. The 664,500 shares of Common Stock heretofore acquired by the T. Rowe Price Small-Cap Value Fund (SCV Fund) were acquired for the aggregate purchase price of $6,910,718.75, using the funds of the respective Fund. The 4,517.723 shares of Series C Convertible Redeemable Preferred stock heretofore acquired by the SCV Fund and the T. Rowe Price New Era Fund (NEF together the Funds) were acquired for the aggregate purchase price of $4,000,000, using the funds of the respective Funds. The Funds are sponsored by the Adviser and serviced by its affiliates. Item 4. Purpose of the Transaction. On May 24, 2005, the Issuer filed a voluntary petition in the United States Bankruptcy Court, Northern District of California, Oakland Division, seeking reorganization relief under Chapter 11 of the Bankruptcy Code. The Funds hold $499,963 in unsecured promissory notes of the Issuer which the Funds received in exchange for past accrued but unpaid dividends on their shares of Preferred Stock. As unsecured debtors, the Funds were invited to serve on the Official Unsecured Creditors Committee in connection with Issuers bankruptcy proceeding, and on June 7th, the Adviser filed an application for membership on the Committee with the U.S. Trustees office. The U.S. Trustee informally notified the Advisers representative on June 8th of his acceptance of the application. On behalf of the Funds and the Accounts, the Adviser acquired and continues to hold the shares of Common Stock and Preferred Stock for investment purposes. As one of three members of the Creditors Committee, the Adviser will be responsible for providing input to the Committee with respect to all facets of the Issuers bankruptcy case, including analyzing, reviewing and negotiating the terms of the Issuers reorganization plan. In its role as Committee member, the Adviser will also negotiate and assist in the development, approval and implementation of the Issuers debtor-in-possession financing and asset sales as part of its plan of reorganization. Except as specifically set forth herein, neither the Adviser nor any of the persons listed on Schedule A has any present plans or proposals which relate or would result in any of the events listed in paragraphs (a) through (j) of Item 4 of Schedule 13D. Any future events of the type described in Item 4 affecting the Issuer, including asset sales, liquidations, or reorganizations, would be subject to the approval of the Bankruptcy Court, after input by all parties to the proceedings, including the Creditors Committee. Item 5. Interest in Securities of the Issuer. (a) As of the date hereof, an aggregate of 104,200 shares of Common Stock, or 1.3% of the 8,069,000 shares of Common Stock issued and outstanding as of June 9, 2005, are owned on behalf of Accounts; and SCV Fund owns 664,500 shares of Common Stock or 8.2% of the outstanding. In addition, SCV Fund and NEF own an aggregate of 4,517.723 shares of Series C Convertible Redeemable Preferred stock. The Adviser has investment discretion with respect to each of the Accounts and the Funds and the investment decisions with respect to each Account or Fund are made separately. By virtue of its authority to dispose or direct the disposition of the shares of Common Stock and Preferred Stock owned by or on behalf of the Accounts and Funds, the Adviser may be deemed to beneficially own, within the meaning of Rule 13d-3(a) under the Securities Exchange Act of 1934, all such shares, or an aggregate of 768,700 shares or 9.5% of the shares of Common Stock outstanding and 4,517.723 shares of Series C Preferred Stock (see paragraph (b) of this Item 5). Each Account and Fund may terminate the grant of discretionary authority to the Adviser at any time. (b) The Adviser has sole power to vote or direct the vote of Accounts holding an aggregate of 104,200 shares of Common Stock. Each Fund votes or directs the vote of the shares of Common Stock and Preferred Stock owned by it and the Adviser has no authority to vote any such shares; but the personnel making the decision with respect to the voting of shares owned by each Fund are also officers or employees of the Adviser. As discretionary adviser to the Accounts and the Funds, the Adviser has the authority to dispose or to direct the disposition of all shares of Common and Preferred Stock in the portfolio of each such Account or Fund. Such authority is subject, in the case of both the Accounts and the Funds, to each client's right to terminate the advisory relationship and revoke the discretionary authority, and, in the case of the Funds, to the general supervision of each Fund's Board of Directors or Trustees. (c) Not applicable. (d) The Adviser does not serve as custodian of the assets of any of the Accounts; accordingly, in each instance only the Account or the Account's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, the shares of Common or Preferred Stock held for the benefit of such Account. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds of the sale of, shares of Common or Preferred Stock is vested in each Account. With respect to the shares of Common Stock owned by the Funds, the Funds' custodians, as appointed by the Funds' Boards, have the right to receive dividends paid with respect to, and proceeds from the sale of, such shares. No other person is known to have such right or the right to direct receipt of dividends paid with respect to, or the proceeds of the sale of, such shares, except that the shareholders of each Fund participate proportionately in any dividends and distributions so paid. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Not applicable. Item 7. Material to Be Filed as Exhibits. Not Applicable 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. Date: June 20, 2005 Date: June 20, 2005 T. Rowe Price Small-Cap Value T. Rowe Price Associates, Inc. Fund, Inc. By: /s/ Joseph A. Carrier By: /s/ Henry H. Hopkins Joseph A. Carrier, Henry H. Hopkins, Treasurer Vice President SCHEDULE A EXECUTIVE OFFICERS AND DIRECTORS - T. ROWE PRICE ASSOCIATES, INC. Listed below are the directors and executive officers of T. Rowe Price Associates, Inc., all of whom are citizens of the U.S.A. The principal occupation of each of the directors and executive officers is as an employee of T. Rowe Price Associates, Inc., and the business address of each is 100 East Pratt Street, Baltimore, Maryland 21202. George A. Roche, Director & President Edward C. Bernard, Director & Vice President James A.C. Kennedy, Director & Vice President Mary J. Miller, Director & Vice President James S. Riepe, Director & Vice President Brian C. Rogers, Director & Chief Investment Officer Kenneth V. Moreland, Chief Financial Officer Joseph Paul Croteau, Treasurer & Controller Barbara A. Van Horn, Secretary Listed below is a director and executive officer of T. Rowe Price Associates, Inc. who is a citizen of England. The principal occupation of said director and executive officer is as an employee of T. Rowe Price Associates, Inc. and his business address is 60 Queen Victoria Street, London, EC4N4TZ England. David J. L. Warren, Director & Vice President In addition, approximately 274 employees of T. Rowe Price Associates, Inc. are Vice Presidents of the firm. June 20, 2005 -----END PRIVACY-ENHANCED MESSAGE-----