SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Amendment No. 1)*
Under the Securities Exchange Act of 1934
AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
G02995101
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(CUSIP Number)
JANUARY 2, 2004
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 the 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 ("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. G02995101
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1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (entities only)
HOT CREEK CAPITAL, L.L.C.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Citizenship or Place of Organization
Nevada
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Number of (5) Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially (6) Shared Voting Power 322,800
Owned by -----------------------------------------------------------
Each Reporting- (7) Sole Dispositive Power 0
Person -----------------------------------------------------------
With (8) Shared Dispositive Power 322,800
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
322,800
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10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
Not applicable
--------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row 9
6.8%
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12) Type of Reporting Person (See Instructions)
OO
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CUSIP No. G02995101
--------------------------------------------------------------------------------
1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (entities only)
HOT CREEK INVESTORS, L.P.
--------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Citizenship or Place of Organization
Nevada
--------------------------------------------------------------------------------
Number of (5) Sole Voting Power 0
Shares ------------------------------------------------------------
Beneficially (6) Shared Voting Power 322,800
Owned by ------------------------------------------------------------
Each Reporting- (7) Sole Dispositive Power 0
Person ------------------------------------------------------------
With (8) Shared Dispositive Power 322,800
--------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person
322,800
--------------------------------------------------------------------------------
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
Not applicable
--------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row 9
6.8%
--------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions)
PN
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CUSIP No. G02995101
--------------------------------------------------------------------------------
1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (entities only)
David M. W. Harvey
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Citizenship or Place of Organization
U.S.A.
--------------------------------------------------------------------------------
Number of (5) Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially (6) Shared Voting Power 322,800
Owned by -----------------------------------------------------------
Each Reporting- (7) Sole Dispositive Power 0
Person -----------------------------------------------------------
With (8) Shared Dispositive Power 322,800
--------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person
322,800
--------------------------------------------------------------------------------
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
Not applicable
--------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row 9
6.8%
--------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions)
IN
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Item 1:
(a) Name of Issuer:
American Safety Insurance Group, LTD. (the "Issuer")
(b) Address of Issuer's Principal Executive Offices:
44 Church Street (P.O. Box HM2064)
Hamilton, HM HX, Bermuda
Item 2:
(a) Name of Person Filing:
This Schedule 13G is being jointly filed by each of the following
persons pursuant to Rule 13d-1(k)(1) promulgated by the
Securities and Exchange Commission pursuant to Section 13 of the
Securities Exchange Act of 1934, as amended (the "Act"): (i) Hot
Creek Capital, L.L.C. (the "General Partner"), (ii) Hot Creek
Investors, L.P. ("Investors"), and (iii) David M. W. Harvey, the
principal member of the General Partner ((i), (ii), and (iii)
being collectively, the "Filing Persons"). The Stock of the
Issuer (the "Stock") which is the subject of this Schedule 13G is
held by Investors. The other Filing Persons are joining in this
Schedule 13G because they exercise voting and investment power
over the Stock held by Investors. The Filing Persons have entered
into a Joint Filing Agreement, dated as of January 2, 2004, a
copy of which is filed with this Schedule 13G as Exhibit A,
pursuant to which the Filing Persons have agreed to file this
statement jointly in accordance with the provisions of Rule
13d-1(k)(1) under the Act. The Filing Persons expressly disclaim
that they have agreed to act as a group.
(b) Address of Principal Business Office or, if none, Residence:
6900 South McCarran Boulevard, Suite 3040
Reno, Nevada 89509
(c) Citizenship:
Nevada for Investors and the General Partner;
David M. W. Harvey is a citizen of the U.S.A.
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
G02995101
Item 3: Not applicable
Item 4: Ownership.
(a) Amount beneficially owned:
322,800 shares of Stock may be deemed beneficially owned within
the meaning of Rule 13d-3 of the Act by each of the Partnership,
the General Partner and, David M. W. Harvey. The General Partner
and David M. W. Harvey expressly disclaim direct and beneficial
ownership of the shares of Stock reported as deemed to be
beneficially owned by them.
Based on Form 10-Q dated September 30, 2003, the Issuer had
4,749,266 shares of Stock issued and outstanding as of October
31, 2003. Accordingly, the 322,800 shares of Stock which may be
deemed to be beneficially owned by Investors represent
approximately 6.8 percent (6.8%) of the Issuer's issued and
outstanding Stock thereafter.
(b) Percent of class: 6.8%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 0
(ii) Shared power to vote or to direct the vote 322,800
(iii) Sole power to dispose or to direct the disposition of 0
(iv) Shared power to dispose or to direct the disposition of 322,800
Item 5: Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6: Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7: Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8: Identification and Classification of Members of the Group.
Not applicable.
Item 9: Notice of Dissolution of Group.
Not applicable.
Item 10: Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
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.
HOT CREEK CAPITAL, L.L.C.
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey
Title: Managing Member
HOT CREEK INVESTORS, L.P.
By its General Partner
HOT CREEK CAPITAL, L.L.C.
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey
Title: Managing Member
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey
Exhibit A
AGREEMENT REGARDING THE JOINT FILING
OF SCHEDULE 13G
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The undersigned hereby agree as follows:
(i) Each of them is individually eligible to use the Schedule 13G to which
this Exhibit is attached, and such Schedule 13G is filed on behalf of each of
them; and
(ii) Each of them is responsible for the timely filing of such Schedule 13G
and any amendments thereto, and for the completeness and accuracy of the
information concerning such person contained therein; but none of them is
responsible for the completeness or accuracy of the information concerning the
other persons making the filing, unless such person knows or has reason to
believe that such information is inaccurate.
HOT CREEK CAPITAL, L.L.C.
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey
Title: Managing Member
HOT CREEK INVESTORS, L.P.
By its General Partner
HOT CREEK CAPITAL, L.L.C.
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey
Title: Managing Member
By: /s/ David M. W. Harvey
Dated: January 2, 2004 ----------------------------------
Name: David M. W. Harvey