SEC Potential persons who are to respond to the collection of
1746 (11-02) information contained in this form are not required to respond
unless the form displays a currently valid OMB control number.
--------------------------
UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION OMB Number: 3235-0145
Washington, D.C. 20549 --------------------------
Expires: December 31, 2007
--------------------------
Estimated average burden
SCHEDULE 13D hours per response . . 11
(Amendment No. ) --------------------------
Under the Securities Exchange Act of 1934
Flamel Technologies S.A.
----------------------------------------------------------
(Name of Company)
Ordinary Shares, Nominal Value (Euro) 0.122 Per Share
----------------------------------------------------------
(Title of Class of Securities)
ISIN No. FR0004018711
(Ordinary Shares) CUSIP 338488109
----------------------------------------------------------
(CUSIP Number of Class of Securities)
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 and Communications)
March 23, 2007
----------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
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 ss.ss.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 ss.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).
- ------------------
(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.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 2 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
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 (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 4,888,147
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
4,888,147
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
4,888,147
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
20.5% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 3 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
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 (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 191,536
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
191,536
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
191,536
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
0.8% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 4 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
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 (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,042,918
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,042,918
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,042,918
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
8.6% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 5 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
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 (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,486,693
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,486,693
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,486,693
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
10.4% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 6 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
O.S.S. Advisers LLC
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,234,454
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
2,234,454
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,234,454
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
9.4% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 7 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Schafer Brothers LLC
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 4,888,147
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
4,888,147
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
4,888,147
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
20.5% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 8 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oscar S. Schafer
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
50,000
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 4,888,147
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 50,000
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
4,888,147
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
4,888,147
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
20.5% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 9 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew Goffe
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
50,000
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 50,000
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
50,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
.2% (see Item 5)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 10 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
Item 1. Security and Issuer
This statement on Schedule 13D 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
"Company"). The address of the principal executive offices of the Company is:
Parc Club du Moulin a Vent
33 avenue du Dr. Georges Levy
69693 Venissieux cedex France
At present, the Reporting Persons (as defined below) beneficially own
the Ordinary Shares in the form of American Depositary Shares, each representing
one Ordinary Share ("ADSs").
Item 2. Identity and Background
(a), (b), (c) and (f). This statement on Schedule 13D is filed on behalf of
the following persons (each a "Reporting Person"), in each case with respect to
the Ordinary Shares indicated:
(i) Oscar S. Schafer & Partners I LP, a Delaware limited partnership ("OSS I
LP"), with respect to the Ordinary Shares beneficially owned by it.
The sole general partner of OSS I LP is O.S.S. Advisors LLC (see below
at (iii)).
The principal business of OSS I LP is to invest in securities. The
address of its principal office is: 598 Madison Avenue, New York, NY 10022.
(ii) Oscar S. Schafer & Partners II LP, a Delaware limited partnership ("OSS
II LP" and together with OSS I LP, the "Partnerships"), with respect to the
Ordinary Shares beneficially owned by it.
The sole general partner of OSS II LP is O.S.S. Advisors LLC (see below
at (iii)).
The principal business of OSS II LP is to invest in securities. The
address of its principal office is: 598 Madison Avenue, New York, NY 10022.
(iii) O.S.S. Advisors LLC, a Delaware limited liability company (the
"General Partner"), which is the general partner of each of the Partnerships,
with respect to the Ordinary Shares beneficially owned by each of the
Partnerships.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 11 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
The members of the General Partner are: Mr. Oscar S. Schafer (see below
at (vii)) and Andrew J. Goffe (see below at (viii)).
The principal business of the General Partner is providing investment
management. The address of its principal office is: 598 Madison Avenue, New
York, NY 10022.
(iv) O.S.S. Overseas Fund Ltd., a Cayman Islands exempted company ("OSS
Overseas"), with respect to the Ordinary Shares beneficially owned by it.
The directors of OSS Overseas are:
(1) Mr. Oscar S. Schafer (see below at (vii)).
(2) Jane Fleming. Ms. Fleming is an assistant client accountant at
Queensgate Bank & Trust Company Ltd., 5th Floor, Harbour Place,
103 South Church Street, P.O. Box 30464 SMB, Grand Cayman, Cayman
Islands. Ms. Fleming is a British citizen.
(3) J.D. Hunter. Mr. Hunter is the Managing Director of Queensgate
Bank & Trust Company Ltd., 5th Floor, Harbour Place, 103 South
Church Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
Mr. Hunter is a British citizen.
The principal business of OSS Overseas is to invest in securities. The
address of its principal office is: SEI Investments Global (Cayman) Limited,
Harbor Place, 5th Floor, South Church Street, PO Box 30464 SMB, Grand Cayman,
Cayman Islands, British West Indies.
(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 Partnerships, respectively, and has investment
discretion with respect to the Ordinary Shares beneficially owned by OSS
Overseas and the Partnerships. The sole general partner of Investment Manager is
Schafer Brothers LLC (see below at (vi)).
The principal business of Investment Manager is investment management.
The address of its principal office is: 598 Madison Avenue, New York, NY 10022.
(vi) Schafer Brothers LLC, a Delaware limited liability company ("SB LLC"),
which is the general partner of the Investment Manager, with respect to the
Ordinary Shares beneficially owned by OSS Overseas and the Partnerships.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 12 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
The sole member of SB LLC is: Mr. Oscar S. Schafer (see below at (vii)).
The principal business of SB LLC is to serve as the general partner of
the Investment Manager. The address of its principal office is: 598 Madison
Avenue, New York, NY 10022.
(vii) Mr. Oscar S. Schafer ("Mr. Schafer"), who serves as the senior
managing member of the General Partner and SB LLC, with respect to the Ordinary
Shares beneficially owned by OSS Overseas and the Partnerships.
Mr. Schafer is a citizen of the United States of America and his
principal business address is: 598 Madison Avenue, New York, NY 10022.
(viii) Mr. Andrew J. Goffe ("Mr. Goffe"), is a citizen of the United States
of America and his principal business address is: 598 Madison Avenue, New York,
NY 10022. His principal occupation is providing investment management. Mr. Goffe
may be deemed to act in concert with the Investment Manager but has sole
beneficial ownership of his respective Ordinary Shares.
(d) None of the Reporting Persons, nor, to the best of their knowledge, any
of their respective directors, executive officers, control persons, general
partners or members has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) None of the Reporting Persons, nor, to the best of their knowledge, any
of their respective directors, executive officers, control persons, general
partners or members has, during the last five years, 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.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 13 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
Item 3. Source and Amount of Funds or Other Consideration.
The total amount of funds used by each of the Partnerships and OSS
Overseas to purchase the securities of the Company as described herein was
furnished from the investment capital of the Partnerships and OSS Overseas, as
applicable.
The aggregate purchase price of the 191,536 Ordinary Shares beneficially
owned by OSS I was $3,680,972, inclusive of brokerage commissions.
The aggregate purchase price of the 2,042,918 Ordinary Shares
beneficially owned by OSS II was $38,575,168, inclusive of brokerage
commissions.
The aggregate purchase price of the 2,486,693 Ordinary Shares
beneficially owned by OSS Overseas was $45,957,586, inclusive of brokerage
commissions.
The Investment Manager, SB LLC and Mr. Schafer have investment
discretion with respect to 67,000 Ordinary Shares which are held for the benefit
of a third party in a separately managed account.
Item 4. Purpose of Transaction.
The Ordinary Shares acquired on March 23, 2007 were not acquired and
additional Ordinary Shares beneficially owned by each Reporting Person are not
held, in either case, for the purpose of or with the effect of influencing the
control of the Company or in connection with, or as a participant in, any
transaction having that purpose or effect.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 14 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
Item 5. Interest in Securities of the Company.
(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 23,812,000
Ordinary Shares (based on calculations made in accordance with Rule 13d-3(d)).
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 to direct the vote, sole power to dispose or to direct the
disposition, or shared power to dispose or to direct the disposition, in each
case as of the date hereof.
- ------------------------------------------------------------------------------
Reporting Person Aggregate Approximate Number of Number of
Number of Percentage Ordinary Ordinary
Ordinary Shares: Sole Shares:
Shares Power to Vote Shared Power
Beneficially or to Dispose to Vote or
Owned to Dispose
- ------------------------------------------------------------------------------
Investment Manager 4,888,147 20.5% 0 4,888,147
OSS I 191,536 0.8% 0 191,536
OSS II 2,042,918 8.6% 0 2,042,918
OSS Overseas 2,486,693 10.4% 0 2,486,693
General Partner 2,234,454 9.4% 0 2,234,454
SB LLC 4,888,147 20.5% 0 4,888,147
Mr. Schafer 4,888,147 20.5% 50,000 4,888,147
Mr. Goffe 50,000 0.2% 50,000 50,000
- ------------------------------------------------------------------------------
Each of the transactions listed above were effected in the open market.
The Investment Manager, the General Partner, SB LLC, Mr. Schafer and Mr. Goffe
expressly declare that this filing shall not be construed as an admission that
each is, for the purposes of sections 13(d) or 13(g) of the Act, the beneficial
owner of any securities covered by this filing.
(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.
- ----------------------------------------------------------------------
Reporting Person Date Buy or Sell Number of Price Per
Ordinary Share/ADS
Shares/ ADSs
- ----------------------------------------------------------------------
OSS I 3/2/2007 Buy 10,515 $28.86
OSS I 3/5/2007 Buy 5,674 $28.70
OSS I 3/15/2007 Buy 4,641 $28.24
OSS I 3/16/2007 Buy 3,465 $28.66
OSS I 3/23/2007 Buy 6,241 $29.06
OSS II 3/2/2007 Buy 84,943 $28.86
OSS II 3/5/2007 Buy 60,534 $28.70
OSS II 3/15/2007 Buy 49,508 $28.24
OSS II 3/16/2007 Buy 36,969 $28.66
OSS II 3/23/2007 Buy 66,586 $29.06
OSS Overseas 3/2/2007 Buy 74,542 $28.86
OSS Overseas 3/5/2007 Buy 73,792 $28.70
OSS Overseas 3/15/2007 Buy 60,351 $28.24
OSS Overseas 3/16/2007 Buy 45,066 $28.66
OSS Overseas 3/23/2007 Buy 77,173 $29.06
Managed Account 3/7/2007 Buy 20,000 $29.65
--------------------------------------------------------------------
(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.
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 15 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: April 2, 2007
OSCAR S. SCHAFER
By: /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 LP
By: O.S.S. Advisors LLC, as General Partner
By: /s/ Oscar S. Schafer
-----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 16 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
OSCAR S. SCHAFER & PARTNERS II LP
By: O.S.S. Advisors LLC, as General Partner
By: /s/ Oscar S. Schafer
-----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
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
SCHEDULE 13D
- ----------------------------------------- --------------------
CUSIP No. 338488109 Page 17 of 17 Pages
ISIN No. FR0004018711
- ----------------------------------------- --------------------
ANDREW GOFFE
By: /s/ Andrew Goffe
------------------------------
Andrew Goffe, individually