-----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, JuqCR4PaP7wpdk3CrGW1RoyavUgJaEBpGLqSn9yS3sPmep2sslR9j+ujBM1FicXB nDGLV0bRCEsZQGUI/lIcTg== 0000912057-01-005994.txt : 20010223 0000912057-01-005994.hdr.sgml : 20010223 ACCESSION NUMBER: 0000912057-01-005994 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010215 GROUP MEMBERS: DIC LOANS LTD. GROUP MEMBERS: DISCOUNT INVESTMENT CORPORATION LTD. GROUP MEMBERS: ELAINE RECANATI GROUP MEMBERS: IDB DEVELOPMENT CORPORATION LTD. GROUP MEMBERS: IDB HOLDING CORPORATION LTD. GROUP MEMBERS: JUDITH YOVEL RECANATI GROUP MEMBERS: LEON RECANATI GROUP MEMBERS: OUDI RECANATI GROUP MEMBERS: PEC ISRAEL ECONOMIC CORP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LEVEL 8 SYSTEMS INC CENTRAL INDEX KEY: 0000945384 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 112920559 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-48463 FILM NUMBER: 1547237 BUSINESS ADDRESS: STREET 1: 8000 REGENCY PARKWAY CITY: CARY STATE: NC ZIP: 27511 BUSINESS PHONE: 2122441234 MAIL ADDRESS: STREET 1: 8000 REGENCY PARKWAY CITY: CARY STATE: NC ZIP: 27511 FORMER COMPANY: FORMER CONFORMED NAME: ACROSS DATA SYSTEMS INC DATE OF NAME CHANGE: 19950517 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PEC ISRAEL ECONOMIC CORP CENTRAL INDEX KEY: 0000076888 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084] IRS NUMBER: 131143528 STATE OF INCORPORATION: ME FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 511 FIFTH AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2125518881 MAIL ADDRESS: STREET 1: 511 FIFTH AVENUE STREET 2: 511 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: PALESTINE ECONOMIC CORP DATE OF NAME CHANGE: 19660905 SC 13D 1 a2039122zsc13d.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (RULE 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. )* --------- LEVEL 8 SYSTEMS, INC. -------------------------------------------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $.001 PER SHARE -------------------------------------------------------- (Title of Class of Securities) 52729M 10 2 -------------------------------------------------------- (CUSIP Number) JAMES I. EDELSON 511 FIFTH AVENUE, 2ND FLOOR NEW YORK, NEW YORK 10017 TELEPHONE: (212) 251-1153 -------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) JANUARY 1, 2001 -------------------------------------------------------- (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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box / / Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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 the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to the "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 provision of the Act (however, see the Notes). Page 1 of 23 pages CUSIP NO. 52729M 10 2 13D PAGE 2 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) PEC Israel Economic Corporation Identification No. 13-1143528 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Maine - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 3 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) DIC Loans Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 4 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Discount Investment Corporation Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 5 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) IDB Development Corporation Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 6 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) IDB Holding Corporation Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 7 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Oudi Recanati - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 8 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Leon Recanati - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 9 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Judith Yovel Recanati - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 52729M 10 2 13D PAGE 10 OF 23 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Elaine Recanati - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER (a) /X/ OF A GROUP* (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - -------------------------------------------------------------------------------- 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 SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING --------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 6,435,925 --------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,435,925 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,435,925 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 39.86% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! This Statement on Schedule 13D amends and replaces the Statement on Schedule 13G filed by the Reporting Persons who, by reason of their direct or indirect ownership of outstanding shares of Liraz Systems Ltd. ("Liraz"), which has filed a Schedule 13D in respect of its beneficial ownership of shares of Level 8 Systems, Inc., may be deemed to share the power to vote or dispose of such shares. ITEM 1. SECURITY AND ISSUER The class of securities to which this Statement relates is the common stock, par value $0.001 per share (the "Common Stock"), of Level 8 Systems, Inc., a Delaware corporation (the "Issuer"), whose principal executive offices are located at 8000 Regency Parkway, Cary, North Carolina 27511. The shares of Common Stock are traded only on the National Association of Securities Dealers Automated Quotation System (the "NASDAQ"). ITEM 2. IDENTITY AND BACKGROUND (a), (b) and (c): The Reporting Persons are: (1) PEC Israel Economic Corporation, a Maine corporation ("PEC"), with its principal office at 14 Beth Hashoeva Lane, Tel Aviv, Israel. PEC organizes, acquires interests in, finances and participates in the management of companies, predominantly companies which are located in the State of Israel or are Israel-related. (2) DIC Loans Ltd., an Israeli corporation ("DIC Loans"), with its principal office at 14 Beth Hashoeva Lane, Tel Aviv, Israel. DIC Loans is engaged in financing activities and in holding and trading equity securities. (3) Discount Investment Corporation Ltd., an Israeli corporation ("DIC"), with its principal office at 14 Beth Hashoeva Lane, Tel Aviv, Israel. As of February 14, 2001, DIC owned all of the capital stock of PEC and DIC Loans. DIC organizes, acquires interests in, finances and participates in the management of companies. (4) IDB Development Corporation Ltd., an Israeli corporation ("IDB Development"), with its principal office at The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel. IDB Development, through its subsidiaries, organizes, acquires interests in, finances and participates in the management of companies. As of February 14, 2001, IDB Development owned approximately 71.7% of DIC. Page 11 of 23 pages (5) IDB Holding Corporation Ltd., an Israeli corporation ("IDB Holding"), with its principal office at The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel. As of February 14, 2001, IDB Holding owned approximately 71.14% of the outstanding shares of IDB Development. IDB Holding is a holding company that, through IDB Development, organizes, acquires interests in, finances and participates in the management of companies. The following persons may, by reason of their interests in and relationships with IDB Holding, be deemed to control the corporations referred to in paragraphs (1) - (5) above: (6) Oudi Recanati, The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel. Present principal occupation: Co-Chairman of the Board and Co-Chief Executive Officer of IDB Holding, Co-Chairman of the Board of IDB Development and Chairman of the Board of DIC. (7) Leon Recanati, The Tower, 3 Daniel Frisch Street, Tel Aiv, Israel. Present principal occupation: Co-Chairman of the Board and Co-Chief Executive Officer of IDB Holding, Co-Chairman of the Board of IDB Development and Chairman of the Board of Clal Industries and Investments Ltd. (8) Judith Yovel Recanati, 64 Kaplan Street, Herzliya, Israel. Present principal occupation: Housewife. (9) Elaine Recanati, 27 Shalva Street, Herzliya, Israel. Present principal occupation: Housewife. Mr. Leon Recanati and Mrs. Judith Yovel Recanati are brother and sister and Mr. Oudi Recanati is their cousin. They are the nephews and niece of Mrs. Elaine Recanati. Companies controlled by Oudi Recanati, Leon Recanati, Judith Yovel Recanati and Elaine Recanati together held 51.7% of the equity and voting power of IDB Holding as of February 14, 2001. The name, citizenship, residence or business address, present principal occupation, and the name, principal business and address of each corporation in which such occupation is conducted of each of the executive officers and directors of IDB Holding, IDB Development and DIC, DIC Loans and PEC are set forth on Schedules A, B and C hereof and are incorporated herein by reference. (d) None of the Reporting Persons has, during the last five years, been convicted in any criminal proceeding, excluding traffic violations and similar misdemeanors. Page 12 of 23 pages (e) None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which 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) The persons referred to in (6), (7) and (8) above are citizens of Israel and the person referred to in (9) above is a citizen of the United States. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION, ITEM 4. PURPOSE OF TRANSACTION, ITEM 5. INTEREST IN SECURITIES OF THE ISSUER AND ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. None of the Reporting Persons owns directly any shares of Common Stock. The Reporting Persons are advised by Liraz that as of November 7, 2000, Liraz may be deemed to share the power to vote and dispose of 7,685,925 shares of Common Stock and that as of January 1, 2001, Liraz may be deemed to share the power to vote and dispose of 6,435,925 shares of Common Stock, or 39.86% of the Common Stock. The percentage of Common Stock set forth in this Statement is based on 16,145,587 shares of Common Stock, consisting of 15,695,587 shares of Common Stock that the Issuer has advised the Reporting Persons were outstanding on January 1, 2001 and 450,000 shares of Common Stock that Liraz has advised the Reporting Persons are issuable upon exercisable of options that Liraz shares the power to vote and dispose. Reference is made to Items 3, 4, 5 and 6 of Amendment No. 1 to the Schedule 13D filed by Liraz and its affiliates. The Reporting Persons are advised by Liraz that there were 6,515,499 outstanding ordinary shares of Liraz as of January 1, 2001 and January 15, 2001. As of January 1, 2001 and January 15, 2001, the Reporting Persons shared the power to vote and dispose of 2,852,248 ordinary shares of Liraz, or approximately 43.8% of the outstanding ordinary shares of Liraz. As of January 15, 2001, PEC, DIC and DIC Loans directly owned 475,397 ordinary shares, 950,727 ordinary shares and 1,426,124 ordinary shares of Liraz, respectively, or approximately 7.3%, 14.6% and 21.9%, respectively, of the outstanding ordinary shares of Liraz. As of such date, DIC, by reason of its ownership of PEC and DIC Loans, shared the power to vote and dispose of 2,852,247 ordinary shares of Liraz. As of such date, IDB Development, by reason of its ownership interest in DIC, and IDB Holding, by reason of its ownership interest in IDB Development, shared the power to vote and dispose of 2,852,248 ordinary shares of Liraz. The Reporting Persons may, by reason of their interests in and relationships with Liraz, be deemed to share voting power and dispositive power with respect to the 6,435,925 shares of Common Stock of the Issuer which Liraz may be deemed to have the power to vote and dispose. Page 13 of 23 pages ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Schedules A, B and C Name,citizenship, address, present principal occupation and organization of employment of executive officers and directors of (i) IDB Holding, (ii) IDB Development and (iii) DIC, DIC Loans and PEC, respectively. Page 14 of 23 pages SIGNATURE After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned hereby certify that the information set forth in this Statement is true, complete and correct. February 15, 2001 PEC ISRAEL ECONOMIC CORPORATION DIC LOANS LTD. DISCOUNT INVESTMENT CORPORATION LTD. IDB DEVELOPMENT CORPORATION LTD. IDB HOLDING CORPORATION LTD. OUDI RECANATI LEON RECANATI JUDITH YOVEL RECANATI ELAINE RECANATI By: PEC ISRAEL ECONOMIC CORPORATION By: /s/ JAMES I. EDELSON ------------------------------------------------------ James I. Edelson, Authorized Signatory of PEC Israel Economic Corporation for itself and on behalf of Discount Investment Corporation Ltd., IDB Development Corporation Ltd., IDB Holding Corporation Ltd., Leon Recanati and Judith Yovel Recanati pursuant to the agreements annexed as Exhibits 1-3 and 6 and 7 to the Schedule 13G, on behalf of Elaine Recanati pursuant to the agreement annexed as Exhibit 1 to amendment no. 2 to the Schedule 13G, on behalf of DIC Loans pursuant to the agreement annexed as Exhibit 1 to amendment no. 3 to the Schedule 13G and on behalf of Oudi Recanati pursuant to the agreement annexed as Exhibit 1 to amendment no. 4 to the Schedule 13G. Page 15 of 23 pages Schedule A (Information provided as of January 1, 2001 in response to Items 2 through 6 of Schedule 13D) Executive Officers, Directors and Persons Controlling IDB Holding Corporation Ltd. (1) ("IDBH") The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel (citizenship the same as country of residence unless otherwise noted)
Principal Name and Address Position Occupation - ---------------- -------- ---------- Haym Carasso Director Joint Managing Director 26 Rival Street of Moise Carasso Sons Tel Aviv, Israel Ltd. (2) Eliahu Cohen Chairman of the Director and Co-Chief The Tower Executive Executive Officer of IDB 3 Daniel Frisch Street Committee Development (3) Tel Aviv, Israel William M. Davidson Director Chief Executive Officer 2300 Harmon Road of Guardian Industries Auburn Hills, Michigan Corporation Rolando Eisen Director Director of Companies 2a Geiger Street Neveh Avivim Tel Aviv, Israel Yair Hamburger Director Chairman and Managing 29 Derech Haganim Director of Kfar Shmaryahu, Israel Harel Hamishmar Investments Ltd. (4) Robert J. Hurst Director Vice Chairman of Goldman, 85 Broad Street Sachs & Co., Investment New York, New York Bankers Page 16 of 23 pages Dalia Lev Director Director and Co-Chief The Tower Executive Officer of IDB 3 Daniel Frisch Street Development (5) Tel Aviv, Israel Solomon Merkin Vice President Vice President of Leib 910 Sylvan Avenue, Suite 130 Merkin, Inc., Investments Englewood Cliffs, New Jersey Raphael Molho Director Director of Companies (6) 22 Ibn Gvirol Street Jerusalem, Israel Lenny Recanati Director Executive Vice President 14 Beth Hashoeva Lane of Discount Investment Tel Aviv, Israel Corporation Ltd. (7) Leon Recanati Co-Chairman Co-Chairman of the The Tower of the Board and Board and Co-Chief 3 Daniel Frisch Street Co-Chief Executive Executive Officer of IDBH Tel Aviv, Israel Officer and Chairman of the Board of Clal Industries and Investments Ltd. (8) Oudi Recanati Co-Chairman of Co-Chairman of the The Tower the Board and Co- Board and Co-Chief 3 Daniel Frisch Street Chief Executive Executive Officer of Tel Aviv, Israel Officer IDBH and Chairman of the Board of Discount Investment Corporation Ltd. (9) Meir Rosenne Director Lawyer 14 Aluf Simhony Street Jerusalem, Israel Israel Zang Director Professor of 10 Kissufim Street Management, Tel Aviv Tel Aviv, Israel University Page 17 of 23 pages Judith Yovel Recanati Housewife 64 Kaplan Street Herzliya, Israel Elaine Recanati Housewife 23 Shalva Street Herzliya, Israel (citizen of the United States) Zehavit Joseph * Executive Vice Executive Vice The Tower President resident of IDBH 3 Daniel Frisch Street Tel Aviv, Israel Rina Cohen Comptroller Comptroller of IDBH (10) The Tower 3 Daniel Frisch Street Tel Aviv, Israel Arthur Caplan** Secretary Secretary of IDBH (11) The Tower 3 Daniel Frisch Street Tel Aviv, Israel James I. Edelson U.S. Resident Executive Vice President 511 Fifth Avenue Secretary of Overseas Discount New York, New York Corporation, Investments (12)
Page 18 of 23 pages (1) As of January 1, 2001, IDB Holding Corporation Ltd., an Israeli corporation located at The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel, owned approximately 56.4% of the outstanding shares of IDB Development Corporation Ltd. As of such date, companies controlled by Oudi Recanati, Leon Recanati, Judith Yovel Recanati and Elaine Recanati held in the aggregate approximately 51.7% of the voting power and equity of IDB Holding Corporation Ltd. (2) Mr. Haym Carasso is a Director of DIC. (3) Mr. Cohen is a Director of DIC. (4) Mr. Hamburger is a Director of DIC. (5) Mrs. Lev is a Director of DIC. (6) Mr. Molho is a Director of IDB Development. (7) Mr. Lenny Recanati is a Director and Executive Vice President of DIC, a Director and Senior Manager of DIC Loans, Chairman of Liraz and a Director of the Issuer. (8) Mr. Leon Recanati is a Co-Chairman of IDB Development. (9) Mr. Oudi Recanati is a Co-Chairman of IDB Development and Chairman of DIC. (10) Mrs. Cohen is Comptroller of IDB Development. (11) Mr. Caplan is Secretary of IDB Development. (12) Mr. Edelson is a Director of PEC. * Ms. Joseph is a dual citizen of Israel and the United States. ** Mr. Caplan is a dual citizen of Israel and Great Britain. Based on information provided to the Reporting Persons, during the past five years, none of the persons listed above has been convicted, or is subject to a judgment, decree or final order, in any of the legal proceedings enumerated in Items 2(d) and 2(e) of Schedule 13D. Page 19 of 23 pages Schedule B (Information provided as of January 1, 2001 in response to Items 2 through 6 of Schedule 13D) Executive Officers and Directors of IDB Development Corporation Ltd. who are not Executive Officers or Directors of IDBH Address is: The Tower, 3 Daniel Frisch Street, Tel Aviv, Israel (citizenship is Israel, unless otherwise noted)
Name and Address Position Principal Occupation - ---------------- -------- -------------------- Abraham Ben Joseph Director Director of Companies 87 Haim Levanon Street Ramat Aviv Tel Aviv, Israel Avishay Braverman Director President of Ben Gurion 11 Jericho Street University of the Negev Beer Sheva, Israel Yoel Carasso Director Director of Companies 33 Maaleh Habonim Ramat Gan, Israel Arnon Gafny Director Economist 55 Moshe Kol Street Jerusalem, Israel Michael Levi Director President, Nilit, Ltd. Textile Fashion Ctr 2 Kaufman Street Tel Aviv, Israel Michael A. Recanati * Director Chairman of Orama Partners, 590 Fifth Avenue Inc., Investment Banking Services New York, New York Avi Shani Vice President, Vice President, Investment and The Tower Investments and Chief Economist of IDB 3 Daniel Frisch Street Chief Economist Development Tel Aviv, Israel
* Mr. Recanati is a dual citizen of the United States and Israel. Based on information provided to the Reporting Persons, during the past five years, none of the persons listed above has been convicted, or is subject to a judgment, decree or final order, in any of the legal proceedings enumerated in Items 2(d) and 2(e) of Schedule 13D. Page 20 of 23 pages Schedule C (Information provided as of January 1, 2001 in response to Items 2 through 6 of Schedule 13D) Executive Officers and Directors of Discount Investment Corporation Ltd. ("DIC"), DIC Loans Ltd. ("DIC Loans") and PEC Israel Economic Corporation ("PEC") who are not Executive Officers or Directors of IDBH Address of DIC, DIC Loans and PEC is: 14 Beth Hashoeva Lane, Tel Aviv, Israel (citizenship is Israel, unless otherwise noted)
Name and Address Position in DIC Principal Occupation - ---------------- --------------- -------------------- Dr. Yoram Turbowicz President and President and Chief 14 Beth Hashoeva Lane Chief Executive Executive Officer Tel Aviv, Israel Officer (1) of DIC Benjamin Einhorn Executive Vice Executive Vice President 14 Beth Hashoeva Lane President (2)(3) of DIC Tel Aviv, Israel Elon Shalev Executive Vice Executive Vice President 14 Beth Hashoeva Lane President (2)(3) of DIC Tel Aviv, Israel Jacob Laskow Vice President Vice President of DIC 14 Beth Hashoeva Lane (2)(3) Tel Aviv, Israel Ziv Leitman Executive Vice President - Chief Financial Officer 14 Beth Hashoeva Lane Finance (2)(3)(4) Tel Aviv, Israel Abraham Ben Naftali Director Attorney 15 Yavne Street Tel Aviv, Israel Gideon Lahav Director Director of Companies 124 Ahad Ha'am Street Tel Aviv, Israel Nachum Admoni Director Director of Companies 26 Ben Yosef Street Tel Aviv, Israel Page 21 of 23 pages Shimon Mizrahi Director Attorney 12 Yad Harutzim Street Tel Aviv, Israel Amos Bankirer Vice President - Business Vice President-Business 14 Beth Hashoeva Lane Development (3) Development of DIC Tel Aviv, Israel Talmor Margalit Vice President - Vice President of 14 Beth Hashoeva Lane Communication Communication Technologies Tel Aviv, Israel Technologies (5) of DIC Raanan Cohen Assistant to Assistant to 14 Beth Hashoeva Lane President President of DIC Tel Aviv, Israel Shlomo Cohen * Legal Counsel Legal Counsel of DIC 14 Beth Hashoeva Lane (3) Tel Aviv, Israel Taly Oren Corporate Corporate Secretary 14 Beth Hashoeva Lane Secretary (3)(6) of DIC Tel Aviv, Israel Benny Kotton Internal Auditor Internal Auditor of DIC 14 Beth Hashoeva Lane Tel Aviv, Israel
(1) Dr. Turbowicz is the Managing Director of DIC Loans and a Director and President of PEC. (2) Is a Director of DIC Loans and PEC. (3) Holds the same position with DIC Loans. (4) Mr. Leitman is Treasurer and Secretary of PEC. (5) Mr. Margalit is a Director of each of Liraz and the Issuer. (6) Ms. Oren is a Director of Liraz. * Mr. Cohen is a dual citizen of Israel and Great Britain. Page 22 of 23 pages Based on information provided to the Reporting Persons, except as disclosed below, during the past five years, none of the persons listed above has been convicted, or is subject to a judgment, decree or final order, in any of the legal proceedings enumerated in Items 2(d) and 2(e) of Schedule 13D. In May 2000, during a criminal trial in the Tel Aviv Magistrate's Court, Mr. Bankirer entered into a plea bargain in which he admitted violating Israel's securities law regarding the inclusion of a misleading detail in DIC's annual and quarterly financial statements in order to mislead a reasonable investor by not attaching the financial statements of certain companies to DIC's financial statements in respect of reporting periods from 1990 until the first quarter of 1995 inclusive. Mr. Bankirer received a suspended sentence of 12 months, which will be in effect for three years, and was fined 230,000 New Israel Shekels (approximately $55,000). None of the activities in question relate or involve Liraz or the Issuer or their businesses in any way. On January 25, 2001, following a criminal trial in the Tel Aviv Magistrate's Court, Mr. Einhorn was convicted of obstructing an investigation of an unrelated party by Israel's Securities Authority by providing the Securities Authority with an incorrect version of certain events that were the subject of the Securities Authority's investigation. The investigation concerned events that occurred before Mr. Einhorn became an officer of DIC and did not relate to or involve DIC, Liraz or the Issuer in any way. The Magistrate's Court has scheduled a hearing on March 14, 2001 to hear arguments concerning the sentencing of Mr. Einhorn. Page 23 of 23 pages -----END PRIVACY-ENHANCED MESSAGE-----