-----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, GINOxYYU3ZPtuAXVWDv0ntHtfjGtAoF4AKVXt427nAgBqmI0nrgwGjD7to2azyKF SA1KNBHYQmdbVXZw7zJ8FQ== 0001125282-02-003605.txt : 20021122 0001125282-02-003605.hdr.sgml : 20021122 20021122144129 ACCESSION NUMBER: 0001125282-02-003605 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20021122 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KENTUCKY ELECTRIC STEEL INC /DE/ CENTRAL INDEX KEY: 0000910394 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 611244541 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44646 FILM NUMBER: 02837661 BUSINESS ADDRESS: STREET 1: P O BOX 3500 CITY: ASHLAND STATE: KY ZIP: 41105-3500 BUSINESS PHONE: 6069291222 MAIL ADDRESS: STREET 1: P O BOX 3500 CITY: ASHLAND STATE: KY ZIP: 41105-3500 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CHEEVER CHARLIE E III CENTRAL INDEX KEY: 0001202557 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 65 COMSTOCK HILL RD CITY: NORWALK STATE: CT ZIP: 06850 BUSINESS PHONE: 203 847 4839 SC 13D/A 1 b321571_sch13da.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 2)* Kentucky Electric Steel, Inc. ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value ------------------------------------------------------------------------------- (Title of Class of Securities) 49/27B/00 ------------------------------------------------------------------------------- (CUSIP Number) Charles E. Cheever, III 65 Comstock Hill Road Norwalk, Connecticut 06850 Telephone: (203) 847-4839 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) - -------------------------------------------------------------------------------- November 18, 2002 - -------------------------------------------------------------------------------- (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 Section 240.13d-1(e), 240.13d-1(f) or 240.13d-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 240.13d-7 for other parties to whom copies are 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 in 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, as amended (the "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. 49/2/7B/00 ________________________________________________________________________________ 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Charles E. Cheever, III ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS PF ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 574,150 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 574,150 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 0 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 574,150 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.0% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON IN ________________________________________________________________________________ This Amendment No. 2 to the Schedule 13D relating to shares of common stock, par value $.01 per share of Kentucky Electric Steel, Inc. is being filed by Charles E. Cheever, III to report an increase in beneficial ownership of the common stock of Kentucky Electric Steel, Inc. This statement amends Items 3 and 5 of the Schedule 13D dated October 25, 2002 and filed with the Securities and Exchange Commission on November 1, 2002 (the "Schedule 13D"). Except as amended hereby, there has been no change in the information contained in the Schedule 13D as previously amended by Amendment No. 1 filed on November 15, 2002. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Item 3 is hereby amended and restated in its entirety as follows: Mr. Cheever used personal funds in making his purchase of the shares of Common Stock. Mr. Cheever did not acquire beneficial ownership of any of the Common Stock with borrowed funds. The aggregate purchase price of the 574,150 shares of Common Stock was approximately $75,000. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Item 5 is hereby amended and restated in its entirety as follows: (a) As of the date of this statement, Mr. Cheever beneficially owns 574,150 shares of Common Stock representing approximately 14.0% of the outstanding shares of Common Stock, calculated in accordance with Rule 13d-3 of the Exchange Act (based on 4,100,285 outstanding as reported by the Issuer in its Report on Form 10-Q for the quarterly period ended on June 29, 2002). (b) As of the date of this statement, Mr. Cheever has sole power to vote or direct the vote and dispose or direct the disposition of 574,150 shares of Common Stock. (c) During the sixty day period ended as of the date hereof, Mr. Cheever purchased, in open market transactions the following shares of Common Stock: Date Number of Shares Price Per Share* ---- ---------------- ---------------- 11/20/02 5,600 $ 0.16 11/19/02 300 $ 0.16 11/19/02 8,000 $ 0.17 11/18/02 5,800 $ 0.16 11/18/02 5,500 $ 0.15 11/15/02 100 $ 0.14 11/15/02 5,000 $ 0.16 11/15/02 9,900 $ 0.15 11/15/02 20,000 $ 0.16 11/14/02 2,000 $ 0.15 11/14/02 35,500 $ 0.16 11/12/02 12,100 $ 0.16 11/12/02 6,500 $ 0.15 11/11/02 10,000 $ 0.16 11/8/02 58,900 $ 0.16 11/8/02 4,900 $ 0.17 11/7/02 5,100 $ 0.16 11/6/02 75,500 $ 0.16 11/6/02 21,700 $ 0.17 11/6/02 20,000 $ 0.18 10/28/02 11,750 $ 0.08 10/25/02 60,000 $ 0.08 10/25/02 51,700 $ 0.07 10/25/02 32,350 $ 0.07 10/25/02 8,000 $ 0.11 10/25/02 5,000 $ 0.10 10/23/02 7,500 $ 0.09 10/21/02 17,400 $ 0.10 10/21/02 11,000 $ 0.09 10/18/02 5,000 $ 0.10 10/18/02 5,500 $ 0.09 10/16/02 21,850 $ 0.10 10/16/02 12,800 $ 0.10 10/16/02 11,900 $ 0.09 * Price does not include commissions. (d) Not applicable. (e) 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. Dated as of: November 22, 2002 /s/ Charles E. Cheever, III ---------------------------- Charles E. Cheever, III -----END PRIVACY-ENHANCED MESSAGE-----