-----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, IQEWULM9zcu9/0J+vRSlHGoIk0NYh+LaUXbq5pIt9uXK9xxGXN9H+hUDwI8PUBX8 ZaoOW4G6Avg06DGPmI/7mg== 0000935836-98-000193.txt : 19980924 0000935836-98-000193.hdr.sgml : 19980924 ACCESSION NUMBER: 0000935836-98-000193 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980923 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ISG INTERNATIONAL SOFTWARE GROUP LTD CENTRAL INDEX KEY: 0000893821 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-47329 FILM NUMBER: 98713113 BUSINESS ADDRESS: STREET 1: INDUSTRIAL PARK STREET 2: TECHNION CITY CITY: HAIFA ISRAEL STATE: L3 ZIP: 32000 BUSINESS PHONE: 5086513888 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0000909450 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 50 OSGOOD PLACE PENTHOUSE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4159811039 MAIL ADDRESS: STREET 1: 50 OSGOOD PLACE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19951108 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19930720 SC 13D 1 [1] OMB APPROVAL OMB Number: 3235-0145 Expires: December 31, 1997 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) * ISG International Software Group Ltd. * - --------------------------------------------------------------------------- Common Stock * M5733B104 * Gruber & McBaine Capital Management, L.L.C. 50 Osgood Place, Penthouse San Francisco, CA 94133 (415) 981-2101 - --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) * July 9, 1998 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 Rule 13d-1(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement / /. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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). SEC 1746 (12-91) [2] SCHEDULE 13D CUSIP No. M5733B104 Page 2 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GRUBER & McBAINE CAPITAL MANAGEMENT, L.L.C. - --------------------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 249,100 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 249,100 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 249,100 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.95 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [3] SCHEDULE 13D CUSIP No. M5733B104 Page 3 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON JON D. GRUBER - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 73,300 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 488,700 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 73,300 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 488,700 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 562,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.64 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [4] SCHEDULE 13D CUSIP No. M5733B104 Page 4 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON J. PATTERSON McBAINE - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,900 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 488,700 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 2,900 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 488,700 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 491,600 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.81 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [5] SCHEDULE 13D CUSIP No. M5733B104 Page 5 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON THOMAS O. LLOYD-BUTLER - --------------------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 488,700 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 488,700 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 488,700 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.78 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [6] SCHEDULE 13D CUSIP No. M5733B104 Page 6 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON LAGUNITAS PARTNERS, A California Limited Partnership - --------------------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 233,600 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 233,600 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 233,600 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.76 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [7] SCHEDULE 13D CUSIP No. M5733B104 Page 7 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GMJ INVESTMENTS, L.P. - --------------------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 6,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .07 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. M5733B104 Page 8 of 15 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of ISG International Software Group Ltd. ("SISGF"). The principal executive office of SISGF is located at Industrial Park, Technion City, Haifa, Israel. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) Gruber and McBaine Capital Management, L.L.C. (LLC); Jon D. Gruber (Gruber); J. Patterson McBaine (McBaine); Thomas O. Lloyd-Butler (TLB); Lagunitas Partners, L.P., a California limited partnership (Lag); GMJ Investments, L.P., a California limited partnership (GMJ). (b) The business address of LLC, Gruber, McBaine, Lag and GMJ is 50 Osgood Place, Penthouse, San Francisco, CA 94133. (c) LLC is an investment adviser. Gruber and McBaine are the Managers of LLC and TLB is a member of LLC. Lag and GMJ are investment limited partnerships. LLC is the general partner of Lag and GMJ. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was 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. (f) All such persons are citizens of the United States of America. SCHEDULE 13D CUSIP No. M5733B104 Page 9 of 15 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Stock were as follows: Purchaser Source of Funds Amount LLC Capital Under Management $2,625,494 Gruber Personal Funds $720,357 McBaine Personal Funds $24,105 Lag Working Capital $2,325,402 GMJ Working Capital $62,236 ITEM 4. PURPOSE OF TRANSACTION. The sole purpose of the purchase of the Stock reported herein was and is for investment. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared Gruber 562,000 6.64 73,300 488,700 73,300 488,700 McBaine 491,600 5.81 2,900 488,700 2,900 488,700 Lag 233,600 2.76 0 233,600 0 233,600 GMJ 6,000 .07 0 6,000 0 6,000 LLC 249,100 2.95 0 249,100 0 249,100 TLB 488,700 5.78 0 488,700 0 488,700 SCHEDULE 13D CUSIP No. M5733B104 Page 10 of 15 Pages The persons filing this statement effected the following transactions in the Stock on the dates indicated, and such transactions are the only transactions in the Stock by the persons filing this statement since January 30, 1998: Purchase Number Price Broker Name or Sale Date ` of Shares Per Share Used Lag P 1/30/98 20,000 13.60 SUNR GMJ P 1/30/98 1,500 13.60 SUNR Gruber P 1/30/98 1,500 13.60 SUNR LLC P 1/30/98 22,000 13.60 SUNR Lag P 2/12/98 9,000 13.50 SUNR LLC P 2/12/98 4,500 13.50 SUNR Gruber P 2/12/98 1,500 13.50 SUNR LLC P 2/12/98 4,000 12.65 INCA Lag P 2/20/98 38,000 12.63 BEST LLC P 2/20/98 48,500 12.63 BEST Gruber P 2/20/98 6,500 12.63 BEST Gruber P 2/20/98 1,000 12.92 INCA Lag P 2/23/98 6,500 13.06 SUNR LLC P 2/23/98 23,500 13.06 SUNR GMJ P 2/23/98 1,000 13.06 SUNR Gruber P 2/23/98 14,000 13.06 SUNR LLC P 2/23/98 2,000 13.10 INCA Lag P 2/27/98 1,000 12.17 INCA Lag P 3/4/98 7,000 9.81 OPCO LLC P 3/4/98 6,500 9.81 OPCO Gruber P 3/4/98 1,500 9.81 OPCO LLC P 3/4/98 400 9.79 INCA LLC P 6/2/98 1,000 9.56 INCA Gruber P 6/2/98 500 9.56 INCA LLC P 6/2/98 2,500 9.63 OPCO Lag P 6/4/98 6,000 8.81 INCA Gruber P 6/4/98 1,500 8.81 INCA LLC P 6/4/98 2,500 8.81 INCA LLC P 6/5/98 5,000 8.79 INCA Lag P 6/9/98 12,000 9.25 OPCO LLC P 6/9/98 7,000 9.25 OPCO Gruber P 6/9/98 1,000 9.25 OPCO Gruber P 6/10/98 1,000 9.19 INCA Lag P 6/15/98 1,000 8.44 INCA LLC P 6/16/98 2,600 8.25 MHMY Gruber P 6/16/98 1,000 8.25 MHMY LLC P 6/16/98 1,500 8.23 INCA Gruber P 6/16/98 1,500 8.23 INCA Lag P 6/16/98 5,000 8.13 CHAS Lag P 6/16/98 10,000 8.19 OPCO LLC P 6/16/98 8,500 8.19 OPCO GMJ P 6/16/98 1,500 8.19 OPCO Lag P 6/17/98 3,500 8.50 BEST LLC P 6/17/98 1,500 8.50 BEST LLC P 6/17/98 1,000 8.44 INCA SCHEDULE 13D CUSIP No. M5733B104 Page 11 of 15 Pages Gruber P 6/17/98 1,000 8.44 INCA Lag P 6/18/98 12,000 8.50 OPCO LLC P 6/18/98 11,000 8.50 OPCO Gruber P 6/18/98 3,000 8.50 OPCO Lag P 6/19/98 1,000 9.06 INCA Gruber P 6/19/98 1,000 8.69 SUNR Lag P 6/22/98 5,000 8.63 SUNR LLC P 6/22/98 3,500 8.63 SUNR Gruber P 6/22/98 1,500 8.63 SUNR LLC P 6/22/98 2,000 8.99 INCA Gruber P 6/22/98 1,900 8.99 INCA Lag P 6/23/98 2,500 9.00 OPCO LLC P 6/23/98 2,500 9.00 OPCO Lag P 6/23/98 5,000 8.63 PRUB LLC P 6/23/98 3,500 8.63 PRUB McBaine P 6/23/98 500 8.63 PRUB Gruber P 6/23/98 1,000 8.63 PRUB Lag P 6/23/98 1,000 9.06 INCA Lag P 6/25/98 8,500 9.23 TSCO Gruber P 6/25/98 1,500 9.23 TSCO LLC P 6/25/98 2,500 9.23 TSCO LLC P 6/25/98 1,500 9.13 OPCO Gruber P 6/25/98 1,000 9.13 OPCO Lag P 6/29/98 1,500 10.25 HRZG LLC P 6/29/98 1,000 10.25 HRZG Gruber P 6/29/98 800 10.34 INCA Lag P 6/30/98 10,000 10.13 OPCO LLC P 6/30/98 13,500 10.13 OPCO Gruber P 6/30/98 1,500 10.13 OPCO LLC P 6/30/98 1,500 10.19 INCA Gruber P 6/30/98 800 10.19 INCA Lag P 7/1/98 3,500 10.13 NITE LLC P 7/1/98 9,500 10.13 NITE LLC P 7/1/98 3,000 10.27 INCA LLC P 7/2/98 2,000 9.75 INCA LLC P 7/9/98 2,000 8.87 INCA Lag P 7/10/98 2,000 8.13 MHMY LLC P 7/10/98 3,000 8.78 INCA McBaine P 7/10/98 500 8.78 INCA Gruber P 7/10/98 1,100 8.78 INCA Lag P 7/13/98 4,000 8.50 CHAS LLC P 7/13/98 4,600 8.50 CHAS Gruber P 7/13/98 1,000 8.50 CHAS McBaine P 7/13/98 400 8.50 CHAS LLC P 7/15/98 500 8.12 INCA Lag P 7/17/98 1,200 8.63 INCA Gruber P 7/17/98 1,000 8.63 INCA Lag P 7/20/98 3,500 8.38 INCA GMJ P 7/20/98 1,000 8.38 INCA Gruber P 7/20/98 1,000 8.38 INCA Lag P 7/21/98 3,000 8.20 INCA Gruber P 7/21/98 1,000 8.20 INCA LLC P 7/21/98 2,300 8.20 INCA Lag P 7/22/98 7,000 8.07 INCA SCHEDULE 13D CUSIP No. M5733B104 Page 12 of 15 Pages LLC P 7/22/98 6,000 8.07 INCA McBaine P 7/22/98 1,000 8.07 INCA Gruber P 7/22/98 1,200 8.07 INCA Lag P 7/23/98 9,000 8.13 TSCO LLC P 7/23/98 1,500 8.13 TSCO Gruber P 7/23/98 1,500 8.13 TSCO GMJ P 7/23/98 1,000 8.10 INCA LLC P 7/23/98 3,500 8.10 INCA Lag P 7/28/98 1,000 7.50 TSCO LLC P 7/28/98 1,000 7.50 TSCO Gruber P 7/28/98 500 7.50 TSCO Lag P 7/29/98 3,500 7.88 PENN Gruber P 7/29/98 1,000 7.88 PENN McBaine P 7/29/98 500 7.88 PENN LLC P 7/29/98 2,500 7.88 OPCO Lag P 7/30/98 3,000 7.69 INCA LLC P 7/30/98 6,000 7.69 INCA Gruber P 7/30/98 1,000 7.69 INCA Lag P 8/3/98 4,000 6.75 SHWD Gruber P 8/3/98 1,000 6.63 PENN LLC P 8/3/98 2,000 6.63 PENN LLC P 8/3/98 500 6.81 INCA Lag P 8/4/98 3,500 6.50 TSCO Gruber P 8/4/98 1,500 6.50 TSCO LLC P 8/4/98 2,000 6.50 NITE LLC P 8/5/98 1,500 6.92 PENN Lag P 8/5/98 5,000 6.92 PENN Gruber P 8/5/98 2,500 6.92 PENN Gruber P 8/5/98 5,000 6.88 OPCO LLC P 8/5/98 200 7.18 MONT Lag P 8/6/98 2,000 7.75 PRUB LLC P 8/6/98 2,000 7.75 PRUB Gruber P 8/6/98 1,000 7.75 PRUB Lag P 8/11/98 2,500 8.11 INCA LLC P 8/11/98 1,500 8.11 INCA Gruber P 8/11/98 2,000 8.11 INCA Lag P 8/12/98 3,900 8.71 INCA Lag P 9/1/98 6,500 7.08 INCA LLC P 9/1/98 5,000 7.08 INCA Gruber P 9/1/98 2,500 7.08 INCA [Key to brokers used:] BEST Bear Stearns CHAS Charles Schwab HRZG Herzog Heine Geduld INCA Instinet MHMY M H Meyers MONT Nationsbank Montgomery Securities NITE Knight Securities OPCO Oppenheimer PENN Pennsylvania Merchant PRUB Prudential Bache SHWD Sherwood SUNR Sunrise Securities TSCO Troster Singer SCHEDULE 13D CUSIP No. M5733B104 Page 13 of 15 Pages ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC is the general partner of Lag, pursuant to limited partnership agreements. These agreements provide to the general partner the authority, among other things, to invest the funds of GMJ and Lag in the Stock, to vote and dispose of those securities and to file this statement on behalf of GMJ and Lag. Also pursuant to those limited partnership agreements, LLC is entitled to fees based on assets under management and realized and unrealized gain, if certain conditions are met. Pursuant to investment management agreements, LLC is authorized, among other things, to invest funds of their various investment advisory clients, and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on thirty days' notice, and provide for fees payable to LLC based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to authority granted to LLC orally and under a Power of Attorney, LLC is authorized, among other things, to invest funds of various relatives and affiliates of Gruber and McBaine. Such authority may be terminated at any time on notice and there are no fees payable to LLC for those services. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed). SCHEDULE 13D CUSIP No. M5733B104 Page 14 of 15 Pages SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: September 18, 1998 Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner Lagunitas Partners, A California Limited Partnership, by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner SCHEDULE 13D CUSIP No. M5733B104 Page 15 of 15 Pages EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of securities of SISGF. For that purpose, the undersigned hereby constitute and appoint Gruber & McBaine Capital Management, L.L.C., a California limited liability company, as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED: September 18, 1998. Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner Lagunitas Partners, A California Limited Partnership, by J. Patterson McBaine, Manager of Gruber and McBaine Capital Management, L.L.C., General Partner 2217-005:1008120 CSR\2217\029\1008120.01 9/22/98 12:16 -----END PRIVACY-ENHANCED MESSAGE-----