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UNITED STATES / Expires: December 31, 2005/
SECURITIES AND EXCHANGE COMMISSION / Estimated average burden /
Washington, D.C. 20549 / hours per response . . .11/
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
Flamel Technologies S.A.
--------------------------------------------------------------------------
(Name of Issuer)
Ordinary Shares
--------------------------------------------------------------------------
(Title of Class of Securities)
338488109
-------------------------------
(CUSIP Number)
June 17, 2003
--------------------------------------------------------------------------
(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-l(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. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
O.S.S. Capital Management LP
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 823,900
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
823,900
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
823,900
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.09%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
Oscar S. Schafer & Partners I LP
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 50,576
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
50,576
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
50,576
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
.31%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
Oscar S. Schafer & Partners II LP
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 453,556
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
453,556
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
453,556
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.8%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
O.S.S. Overseas Fund Ltd.
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 319,768
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
319,768
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
319,768
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.97%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
CO
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
O.S.S. Advisors LLC
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 504,132
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
504,132
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
504,132
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.11%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
00
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
Schafer Brothers LLC
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 823,900
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
823,900
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
823,900
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.09%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
00
- --------------------------------------------------------------------------
CUSIP No. 338488109
---------------------
- --------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY).
Oscar S. Schafer
- --------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
- --------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
__________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 823,900
__________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
__________________________________________________________
PERSON WITH: (8) SHARED DISPOSITIVE POWER
823,900
- --------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
823,900
- --------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.09%
- --------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
(SEE INSTRUCTIONS)
IN
- --------------------------------------------------------------------------
ITEM 1.
(a) NAME OF ISSUER: Flamel Technologies S.A.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Parc Club du Moulin a Vent
33 avenue du Doctuer Georges Levy
Venissieux CED IO 69693
Item 2(a). NAME OF PERSON FILING:
(i) Oscar S. Schafer & Partners I LP, a Delaware limited partnership
("OSS I"), with respect to shares of Ordinary Shares (as defined
in Item 2(d) below) directly owned by it;
(ii) Oscar S. Schafer & Partners II LP, a Delaware limited partnership
("OSS II", and together with OSS I, the "Partnerships"), with
respect to shares of Ordinary Shares as defined in Item 2(d)
below) directly owned by it;
(iii) O.S.S. Advisors LLC, a Delaware limited liability company (the
"General Partner"), which serves as the general partner of each
of the Partnerships, with respect to shares of Ordinary Shares
(as defined in Item 2(d) below) directly owned by each of the
Partnerships;
(iv) O.S.S. Overseas Fund Ltd., a Cayman Islands exempted company
("OSS Overseas"), with respect to shares of Ordinary Shares
directly owned by it;
(v) O.S.S. Capital Management LP, a Delaware limited partnership
(the "Investment Manager"), which serves as investment manager,
and management company, to OSS Overseas and the Partnership,
respectively, and has investment discretion with respect to
shares of Ordinary Shares directly owned by OSS Overseas and
Partnerships;
(vi) Schafer Brothers LLC, a Delaware limited liability company (the
"SB LLC"), which serves as the general partner to the Investment
Manager, with respect to shares of Ordinary Shares directly owned
by OSS Overseas and the Partnerships; and
(vi) Mr. Oscar S. Schafer ("Mr. Schafer"), who serves as the senior
managing member of the General Partner and of the SB LLC, with
respect to shares of Ordinary Shares directly owned by the
Partnerships and OSS Overseas.
The Partnerships, OSS Overseas, the General Partner, the Investment
Manager, SB LLC and Mr. Schafer are hereinafter sometimes collectively referred
to as the "Reporting Persons." Any disclosures herein with respect to persons
other than the Reporting Persons are made on information and belief after making
inquiry to the appropriate party.
ITEM 2.
(a) NAME OF PERSON FILING
(i) O.S.S. Capital Management LP
(ii) Oscar S. Schafer & Partners I LP
(iii) Oscar S. Schafer & Partners II LP
(iv) O.S.S. Overseas Fund Ltd.
(v) O.S.S. Advisors LLC
(vi) Schafer Brothers LLC
(vii) Oscar S. Schafer
(b) ADDRESS OF PRINCIPAL OFFICE, OR, IF NONE, RESIDENCE
The address of the principal business offices of each of:
(i) Investment Manager
605 Third Avenue, 19th Floor
New York, NY 10158
(ii) OSS I
605 Third Avenue, 19th Floor
New York, NY 10158
(iii) OSS II
605 Third Avenue, 19th Floor
New York, NY 10158
(iv) OSS Overseas
SEI Investments Global (Cayman)Limited
Harbor Place, 5th Floor
South Church Street, P.O. box 30464 SMB
Grand Cayman, Cayman Islands
British West Indies
(v) General Partner
605 Third Avenue, 19th Floor
New York, NY 10158
(vi) SB LLC
605 Third Avenue, 19th Floor
New York, NY 10158
(vii) Mr. Schafer
605 Third Avenue, 19th Floor
New York, NY 10158
(c) CITIZENSHIP
(i) Investment Manager - Delaware, USA
(ii) OSS I - Delaware, USA
(iii) OSS II - Delaware, USA
(iv) OSS Overseas - Cayman Islands
(v) General Partner - Delaware, USA
(vi) SB LLC - Delaware, USA
(vii) Mr. Schafer - New York, USA
(d) TITLE OF CLASS OF SECURITIES
Ordinary Shares
(e) CUSIP NUMBER
338488109
ITEM 3. This statement is not filed pursuant to either Rule 13d-1(b) or
13d-2(d) or (c).
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
The Investment Manager may be deemed to beneficially own 823,900
Shares. OSS I may be deemed to beneficially own 50,576 Shares.
OSS II may be deemed to beneficially own 453,556 Shares. OSS
Overseas may be deemed to beneficially own 319,768. The General
Partner may be deemed to beneficially own 504,132 Shares as a
result of its voting and dispositive power over 504,132 Shares
owned by the Partnerships. SB LLC may be deemed to beneficially
own 823,900 as a result of its voting and dispositive power over
823,900 Shares owned by the Partnerships and OSS Overseas. Mr.
Schafer may be deemed to beneficially own 823,900 by virtue of
his voting and dispositive power over 823,900 Shares owned by the
Partnerships and OSS Overseas
(b) PERCENTAGE BENEFICIALLY OWNED
Based on calculations made in accordance with Rule 13d-
3(d), and there being 16,198,000 Shares outstanding:
(i) Investment Manager may be deemed to beneficially
own approximately 5.09% of the outstanding Shares;
(ii) OSS I may be deemed to beneficially own
approximately .31% of the outstanding Shares;
(iii) OSS II may be deemed to beneficially own
approximately 2.8% of the outstanding Shares;
(iv) OSS Overseas may be deemed to beneficially own
approximately 1.97% of the outstanding Shares;
(v) General Partner may be deemed to beneficially own
approximately 3.11% of the outstanding Shares;
(vi) SB LLC may be deemed to beneficially own
approximately 5.09% of the outstanding Shares;
(vii) Mr. Schafer may be deemed to beneficially own
approximately 5.09% of the outstanding Shares.
(c) NUMBER OF SHARES AS TO WHICH THE PERSON HAS:
(i) Sole power to vote or to direct the vote NA .
----------
(ii) Shared power to vote or to direct the vote 823,900 .
----------
(iii) Sole power to dispose or to direct the disposition of NA .
-----
(iv) Shared power to dispose or to direct the disposition of
823,900 .
---------
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
The (i) limited partners and the general partner of the Partnership and
(ii) the shareholders and advisor of OSS Overseas have the right to participate
in the receipt of dividends from, or proceeds from the sale of, the securities
held for the Partnerships and OSS Overseas, respectively.
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
See Item 2.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
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.
June 27, 2003
------------------------------
Date
Oscar S. Schafer
------------------------------
Signature
Oscar S. Schafer, Managing Partner
----------------------------------
Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
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 for whom copies are to be sent.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
CUSIP No. 338488109 13G
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing
statement on Schedule 13G, is filed on behalf of each of the undersigned and
that all subsequent amendments to this statement on Schedule 13G, shall be filed
on behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
DATED: June 27, 2003
Oscar S. Schafer
-------------------------------------
individually and as (a) senior managing
member of O.S.S. Advisors LLC,
for itself and as the general partner of
(i) Oscar S. Schafer & Partners I LP;
and
(ii)Oscar S. Schafer & Partners II LP;
and(b) Schafer Brothers LLC,
for itself and as the general
partner of O.S.S. Capital
Management LP and investment manager
of O.S.S. Overseas Fund Ltd.