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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
----------
FLAMEL TECHNOLOGIES S.A.
(Name of Issuer)
ORDINARY SHARES, NOMINAL VALUE (EURO)0.122 PER SHARE
(Title of Class of Securities)
ISIN NO. FR0004018711 (ORDINARY SHARES)
CUSIP 338488109 (ADSs)
(CUSIP Number)(1)
----------
OSCAR S. SCHAFER
O.S.S. CAPITAL MANAGEMENT LP
598 MADISON AVENUE
NEW YORK, NY 10022
(212) 756-8700
(Name, Address and Telephone Number of Person
Authorized to Receive Notices of Communication)
----------
MAY 11, 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 which is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
- ----------
(1) The Ordinary Shares have no CUSIP number. The ISIN number for the Ordinary
Shares is FR0004018711. The CUSIP number for the ADSs is 338488109.
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- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 2 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
O.S.S. Capital Management LP
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
2,665,947
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,665,947
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,665,947
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 3 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Oscar S. Schafer & Partners I LP
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
124,070
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
124,070
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
124,070
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
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. 338488109 13D (PAGE 4 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Oscar S. Schafer & Partners II LP
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
1,239,507
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
1,239,507
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,239,507
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 5 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
O.S.S. Overseas Fund Ltd
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
1,302,370
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
1,302,370
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,302,370
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 6 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
O.S.S. Advisors LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
1,363,577
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
1,363,577
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,363,577
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 7 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Schafer Brothers LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
2,665,947
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,665,947
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,665,947
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP NO. 338488109 13D (PAGE 8 OF 13 PAGES)
ISIN NO. FR0004018711
- -------------------------- --------------------------
- -------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Oscar S. Schafer
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- -------- -----------------------------------------------------------------------
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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
- -------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
0
------ ------------------------------------------------
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
2,665,947
------ ------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,665,947
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,665,947
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
EXPLANATORY NOTE
This Amendment No. 3 to Schedule 13D ("AMENDMENT NO. 3") is being filed on
behalf of Oscar S. Schafer & Partners I LP, a Delaware limited partnership ("OSS
I LP"), Oscar S. Schafer & Partners II LP, a Delaware limited partnership ("OSS
II LP" and together with OSS I LP, the "LIMITED PARTNERSHIPS"), O.S.S. Advisors
LLC, a Delaware limited liability company (the "GENERAL PARTNER"), O.S.S.
Overseas Fund Ltd., a Cayman Islands exempted company ("OSS OVERSEAS"), O.S.S.
Capital Management LP, a Delaware limited partnership, (the "INVESTMENT
MANAGER"), Schafer Brothers LLC, a Delaware limited liability company ("SB
LLC"), and Mr. Oscar S. Schafer ("MR. SCHAFER", and together with the Limited
Partnerships, the General Partner, OSS Overseas, the Investment Manager and SB
LLC, the "REPORTING PERSONS"), who serves as the senior managing member of the
General Partner and SB LLC. This Amendment No. 3 relates to the ordinary shares,
nominal value (euro)0.122 per share ("ORDINARY SHARES"), of Flamel Technologies
S.A., a SOCIETE ANONYME organized under the laws of the Republic of France (the
"ISSUER"), and amends the Schedule 13D filed with the United States Securities
and Exchange Commission (the "SEC") on April 18, 2005, as amended by Amendment
No. 1, filed with the SEC on April 29, 2005, and Amendment No. 2 filed on May
11, 2005 (as so amended, the "ORIGINAL SCHEDULE 13D"). Capitalized terms used in
this Amendment No. 3 but not otherwise defined herein shall have the meanings
ascribed to them in the Original Schedule 13D. Except as amended hereby the
Original Schedule 13D remains in effect.
ITEM 1. SECURITY AND ISSUER
Item 1 of the Original Schedule 13D is amended and supplemented by adding
at the end thereof the following paragraph:
As set forth more fully in Item 5, on May 11, 2005, the Limited
Partnerships and OSS Overseas acquired, in aggregate, an additional 100,000
ADSs. As of that date, the Reporting Persons beneficially own, in aggregate,
2,665,947 Ordinary Shares, of which, in aggregate, 600,000 are owned in the form
of ADSs and, in aggregate, 2,065,947 are owned in the form of Ordinary Shares
held in accounts registered in the names of the Limited Partnerships and OSS
Overseas in the share registry of the Issuer.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 of the Original Schedule 13D is amended and restated in its entirety
to read as follows:
The total amount of funds used by each of the Limited Partnerships and OSS
Overseas to purchase the securities of the Issuer as described herein was
furnished from the investment capital of the Limited Partnerships and OSS
Overseas, as applicable.
The aggregate purchase price of the 124,070 Ordinary Shares beneficially
owned by OSS I was $1,869,577, inclusive of brokerage commissions.
The aggregate purchase price of the 1,239,507 Ordinary Shares beneficially
owned by OSS II was $18,849,943, inclusive of brokerage commissions.
- 9 -
The aggregate purchase price of the 1,302,370 Ordinary Shares beneficially
owned by OSS Overseas was $22,192,833, inclusive of brokerage commissions.
The Depositary charged a fee of $5.00 per 100 ADSs (or portion thereof) in
connection with the surrender of the ADSs and the withdrawal of the underlying
Ordinary Shares. The total amount of funds used by each of the Partnerships and
OSS Overseas to pay such fees of the Depositary was furnished from the
investment capital of the Limited Partnerships and OSS Overseas, as applicable.
The aggregate fees paid to the Depositary in respect of the withdrawal of
the 100,190 Ordinary Shares owned by OSS I were $5,010.
The aggregate fees paid to the Depositary in respect of the withdrawal of
the 963,387 Ordinary Shares owned by OSS II were $48,170.
The aggregate fees paid to the Depositary in respect of the withdrawal of
the 1,002,370 Ordinary Shares owned by OSS Overseas were $50,120.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER
Item 5 of the Original Schedule 13D is amended and restated in its entirety
to read as follows:
(a),(b) The following table sets forth the aggregate number and percentage
of the outstanding Ordinary Shares beneficially owned by each of the Reporting
Persons named in Item 2, as of the date hereof. The percentage of the
outstanding Ordinary Shares beneficially owned is based on the 21,651,590
Ordinary Shares outstanding as September 30, 2004, as reported by the Issuer in
its unaudited consolidated financial statements for the nine months then ended,
as filed with the United States Securities and Exchange Commission on the
Issuer's Form 6-K dated December 30, 2004. The table also sets forth the number
of Ordinary Shares with respect to which each Reporting Person has the sole
power to vote or to direct the vote, shared power to vote or direct the vote,
sole power to dispose or to direct the disposition, or shared power to dispose
or direct the disposition, in each case as of the date hereof.
- ------------------- ------------------- ------------ ------------------- ---------------------
Number of Ordinary Number of Ordinary
Aggregate Number Shares: Sole Power Shares: Shared Power
of Ordinary Shares Approximate to Vote or to to Vote or to
Reporting Person Beneficially Owned Percentage Dispose Dispose
- ------------------- ------------------- ------------ ------------------- ---------------------
Investment Manager 2,665,947 12.3% 0 2,665,947
- ------------------- ------------------- ------------ ------------------- ---------------------
OSS I LP 124,070 0.6% 0 124,070
- ------------------- ------------------- ------------ ------------------- ---------------------
OSS II LP 1,239,507 5.7% 0 1,239,507
- ------------------- ------------------- ------------ ------------------- ---------------------
OSS Overseas 1,302,370 6.0% 0 1,302,370
- ------------------- ------------------- ------------ ------------------- ---------------------
General Partner 1,363,577 6.3% 0 1,363,577
- ------------------- ------------------- ------------ ------------------- ---------------------
SB LLC 2,665,947 12.3% 0 2,665,947
- ------------------- ------------------- ------------ ------------------- ---------------------
Mr. Schafer 2,665,947 12.3% 0 2,665,947
- ------------------- ------------------- ------------ ------------------- ---------------------
- 10 -
(c) Except for the transactions set forth below, during the last sixty days
the Reporting Persons have effected no transactions with respect to the Ordinary
Shares or ADSs.
- ----------------- ---------- ------------ ------------------- -----------------
Number of Ordinary Price Per Share/
Reporting Person Date Buy or Sell Shares/ ADSs ADS
- ----------------- ---------- ------------ ------------------- -----------------
OSS I 3/14/2005 Buy 4,160 $14.50
- ----------------- ---------- ------------ ------------------- -----------------
OSS I 5/10/2005 Buy 19,900 $17.43
- ----------------- ---------- ------------ ------------------- -----------------
OSS I 5/11/2005 Buy 3,980 $17.98
- ----------------- ---------- ------------ ------------------- -----------------
- ----------------- ---------- ------------ ------------------- -----------------
OSS II 3/14/2005 Buy 46,520 $14.50
- ----------------- ---------- ------------ ------------------- -----------------
OSS II 5/10/2005 Buy 230,100 $17.43
- ----------------- ---------- ------------ ------------------- -----------------
OSS II 5/11/2005 Buy 46,020 $17.98
- ----------------- ---------- ------------ ------------------- -----------------
- ----------------- ---------- ------------ ------------------- -----------------
OSS Overseas 3/14/2005 Buy 49,320 $14.50
- ----------------- ---------- ------------ ------------------- -----------------
OSS Overseas 5/10/2005 Buy 250,000 $17.43
- ----------------- ---------- ------------ ------------------- -----------------
OSS Overseas 5/11/2005 Buy 50,000 $17.98
- ----------------- ---------- ------------ ------------------- -----------------
All of the transactions listed above were effected in the open market.
On April 29, 2005, in connection with the surrender of the ADSs and the
withdrawal of the underlying Ordinary Shares, the Bank of New York caused
100,190, 963,387, and 1,002,370 Ordinary Shares to be transferred to accounts
registered in the names of OSS I LP, OSS II LP and OSS Overseas, respectively,
in the share registry of the Issuer. This transaction did not involve any change
in the number of Ordinary Shares beneficially owned by the Reporting Persons.
(d) The (i) limited partners and the General Partner of the Partnerships
and (ii) the shareholders and the advisor of OSS Overseas have the right to
participate in the receipt of dividends from, and the proceeds from the sale of,
the securities held for the Partnerships and OSS Overseas, respectively.
(e) Not applicable.
- 11 -
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: May 12, 2005
/s/ Oscar S. Schafer
------------------------------
Oscar S. Schafer, individually
O.S.S. CAPITAL MANAGEMENT LP
By: Schafer Brothers LLC
as General Partner
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
OSCAR S. SCHAFER & PARTNERS I LLP
By: O.S.S. Advisors LLC
as General Partner
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
OSCAR S. SCHAFER & PARTNERS II LLP
By: O.S.S. Advisors LLC
as General Partner
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
- 12 -
O.S.S. OVERSEAS FUND LTD
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Director
O.S.S. ADVISORS LLC
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
SCHAFER BROTHERS LLC
By: /s/ Oscar S. Schafer
------------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
- 13 -