-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P/ImZapmRQKy4VtZO38wsmk0XJ1s4EnbPXmAuGkYB2++L4qq8xD4W9fJZXVc/87H BS+d10yFfwVl6YJIxg4XwQ== 0001179591-06-000052.txt : 20061121 0001179591-06-000052.hdr.sgml : 20061121 20061121112215 ACCESSION NUMBER: 0001179591-06-000052 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20061121 DATE AS OF CHANGE: 20061121 GROUP MEMBERS: 0000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FORMULA SYSTEMS (1985) LTD CENTRAL INDEX KEY: 0001045986 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-56313 FILM NUMBER: 061231982 BUSINESS ADDRESS: STREET 1: 3 ABBA EBAN BLVD. CITY: HERZLIYA STATE: L3 ZIP: 46725 BUSINESS PHONE: 001 972 9 9598800 MAIL ADDRESS: STREET 1: PO BOX 2062 CITY: HERZLIYA STATE: L3 ZIP: 46120 FORMER COMPANY: FORMER CONFORMED NAME: FORMULA SYSTEMS \1985\ LTD DATE OF NAME CHANGE: 19970911 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GOLDSTEIN DAN CENTRAL INDEX KEY: 0000908192 FILING VALUES: FORM TYPE: SC 13D/A SC 13D/A 1 form13211106a.txt SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION ------------------------------------------------------------- Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 5) Formula Systems (1985) Ltd. - -------------------------------------------------------------------------------- (Name of Issuer) Ordinary Shares - -------------------------------------------------------------------------------- (Title of Class of Securities) 346414 105 - -------------------------------------------------------------------------------- (CUSIP Number) Gillon Beck Dan Goldstein FIMGold, Limited Partnership Formula Systems (1985) Ltd. c/o FIMI 2001 Ltd. "Rubinstein House" 3 Abba Eban Boulevard 37 Petach Tikva Road Herzlia, Israel Tel Aviv, Israel +972-3-565-2244 +972-9-959-8800 - ----------------------------------------- -------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 21, 2006 - -------------------------------------------------------------------------------- (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 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 249.13d-1(g), check the following box. |_| 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). CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Dan Goldstein - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Israel - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Ildani Holdings Ltd. - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Israel - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) FIMI Opportunity Fund, L.P. - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Delaware - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) FIMI 2001 Ltd. - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Israel - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) FIMGold, Limited Partnership - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Israel - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN CUSIP NO. 364414 105 - ---------- --------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) FIMGold Ltd. - ---------- -------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) - ---------- ---------------- ---------------------------------------------------- 3. SEC Use only - ---------- ----------------------------------- --------------------------------- 4. Source of funds (See Instructions) N/A - ---------- ----------------------------------- --------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - ---------- -------------------------------------- ------------------------------ 6. Citizenship or Place of Organization Israel - ---------- --------------------------------------------------------------------- - ----------------- ----- -------------------- ----------------------------------- Number of 7. Sole Voting Power 0 Shares Beneficially 8. Shared Voting Power 0 Owned by Each Reporting 9. Sole Dispositive Power 0 Person With: 10. Shared Dispositive Power 0 - ----------------- ----- ------------------------ ------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ---------- ------------------------------------------------------------------ -- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ---------- ------------------------------------------------------ -------------- 13. Percent of Class Represented by Amount in Row (11) 0% - ---------- --------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO Explanatory note: This Schedule 13D constitutes amendment no. 5 to the Schedule 13D filed by the Reporting Persons. Item 4. Purpose of Transaction. - ------ ---------------------- Item 4 is hereby amended to add the following: FIMGold LP an Israeli limited partnership, and FIMGold Ltd, an Israeli Company, on the one hand and Emblaze Ltd. an Israeli company listed on the Official Listing of the London Stock Exchange ("Emblaze") on the other hand, entered into an amendment dated as of November 20, 2006 ("Amendment"), to the share purchase agreement between such parties dated as of September 12, 2006, under which FIMGold LP agreed to sell to Emblaze all of the Shares it holds in Formula Systems (1985) Ltd., an Israeli company (the "Company"), at a price per share of $16.00 ("Share Purchase Agreement"). The Amendment provides that, as soon as practical following the distribution by Formula as a dividend in kind to its shareholders of substantially all the shares the Company holds in Formula Vision Technologies (F.V.T.) Ltd., an Israeli company listed on the Tel Aviv Stock Exchange ("Vision Shares"), an event that will take place only following the closing of the sale transaction, then Emblaze will transfer to FIMGold LP the proceeds of such dividend, all subject to the provisions of the Amendment. See the Amendment attached to this report for additional details. The Amendment also provides that, prior to the closing of the sale transaction, Dan Goldstein, Ishay Davidi and Yarom Oren will resign from the Board of Directors of the Company and three new directors designated by Emblaze are to be appointed by the Board of Directors. The closing of the transaction occurred on November 20, 2006 upon which the Reporting Persons ceased to hold any shares in the Company. Except as aforesaid, the Reporting Persons have no plans or proposals of the type described in paragraphs (a) through (j) of Item 4 of the Schedule 13D rules. Item 5. Interest in Securities of the Issuer. - ------ ------------------------------------ Item 5(a) is hereby amended to add the following: (a) Reference is made to item 5(e) below. Item 5(e) is hereby added: (e) On November 20, 2006 FIMGold sold all of its 4,406,237 Shares of the Company, and consequently ceased to be the beneficial owner of any of the Ordinary Shares of the Company Item 7. Materials to be Filed as Exhibits. - ------ --------------------------------- Item 7 is hereby amended to add the following: 5. Amendment to Share Purchase Agreement dated as of November 20, 2006 between FIMGold LP, FIMGold Ltd and Emblaze. SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the signatories with respect to itself certify that the information set forth in this statement is true, complete and correct. Date: November 21 2006 FIMGOLD, LIMITED PARTNERSHIP By: FIMGOLD LTD. Its General Partner By: /s/Dan Goldstein -------------------------- Dan Goldstein Director FIMI OPPORTUNITY FUND, L.P. By: FIMI 2001 LTD. Its General Partner By:/s/Ishay Davidi ------------------ Ishay Davidi Chief Executive Officer FIMI 2001 LTD. By: /s/_Ishay Davidi --------------------- Ishay Davidi Chief Executive Officer ILDANI HOLDINGS LTD. By: /s/_Dan Goldstein ----------------------- Dan Goldstein Chief Executive Officer By: /s/Dan Goldstein ----------------- Dan Goldstein EX-99 2 ex13d211106.txt AMENDMENT TO SHARE PURCHASE AGR. OF SEP. 12 2006 Date: November 20, 2006 To: Copy: Emblaze Ltd. Dan Shamgar, Adv. 22 Zarhin Street Mike Rimon, Adv. Ra'anana, Israel Meitar Liquornik Geva & Leshem Brandwein Attn.: Chief Financial Officer 16 Abba Hillel Silver Rd. Ramat Gan, Israel By fax: 03-6103756; 03-610-3687 By fax: 09-769-9800 Re: Emblaze - FIMGold Agreement Dear Sir, We would like to set forth in writing certain matters discussed by the parties, with reference to the agreement dated September 12, 2006 by and among Emblaze Ltd. ("Emblaze"), on the one hand, and FIMGold Limited Partnership ("FIMGold L.P.") and FIMGold Ltd., on the other hand (the "Agreement"). Each capitalized term not defined in this letter shall have the meaning ascribed to such term in the Agreement. 1. On November 19, 2006, the shareholders of Formula approved the Distribution. Since the record date for the shareholders of Formula entitled to receive shares of Formula Vision pursuant to the Distribution shall be subsequent to the Closing, the parties agree as follows: Upon consummation of the Distribution, Emblaze shall, as soon as practicable after receipt of shares of Formula Vision pursuant to the Distribution, transfer to FIMGold L.P. such number of shares of Formula Vision that FIMGold L.P. would have been entitled to receive had the Distribution been consummated prior to the Closing ("FIMGold Vision Shares") (provided that FIMGold L.P. first pays Emblaze in cash an amount equal to all taxes (including withholding taxes), other than any taxes with respect to which FIMGold L.P. delivers to Emblaze an exemption from payment or withholding obligation, and all other costs, in each case paid or payable by Emblaze and/or Formula in connection with such distribution and/or transfer of FIMGold Vision Shares). 2. Section 1.5(a)(ii) of the Agreement is hereby amended and restated in its entirety as follows: "(ii) Letters of resignation of each of Dan Goldstein, Ishay Davidi and Yarom Oren, dated as of the Closing Date, and an undated and irrevocable letter of resignation of Gad Goldstein, from the board of directors of Formula and a resolution signed by all of the directors of Formula at the time such resolution is made and entitled to vote on such matter (and in any event following the effective resignation of Messrs. Goldstein, Davidi and Oren from the board of Formula), electing Messrs. Guy Bernstein, Shimon Laor and Tal Barnoach to the board of directors of Formula, to fill the vacancies created on the board of Formula as a result of the foregoing resignations." This letter shall be deemed an amendment to the Agreement and an integral part thereof. Except as set forth herein, all of the terms of the Agreement shall continue in full force and effect. Please indicate your confirmation and agreement to the foregoing by signing below and returning this document to FIMGold L.P. Sincerely yours, FIMGold, Limited Partnership FIMGold Ltd. By: FIMGold Ltd., the General Partner By: _______________ By: _______________ Name: Ishay Davidi Name: Ishay Davidi Title: Title: By: _______________ By: _______________ Name: Dan Goldstein Name: Dan Goldstein Title: Title: Agreed and Accepted For: EMBLAZE LTD. By: ________________ Name: Title: -----END PRIVACY-ENHANCED MESSAGE-----