UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
1924 South Utica, Suite #1120
Tulsa, Oklahoma 74104-6429
(918) 747-3412
Receive Notices and Communications)
Akin, Gump, Strauss, Hauer & Feld, L.L.P.
1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201-4618
(214) 969-2800
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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.þ
Note:Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 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).
CUSIP No. | M6786D104 |
1 | NAMES OF REPORTING PERSONS PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | ||||||||||
(a) o | |||||||||||
(b) o | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
WC | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
Oklahoma | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 544,427 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 0 | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 544,427 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
544,427 | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
5.2% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IA |
Page 2 of 11
CUSIP No. | M6786D104 |
1 | NAMES OF REPORTING PERSONS PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P. | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | ||||||||||
(a) o | |||||||||||
(b) o | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
WC | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
Oklahoma | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 0 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 544,427 | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 0 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
544,427 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
544,427 | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
5.2% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
PN |
Page 3 of 11
CUSIP No. | M6786D104 |
1 | NAMES OF REPORTING PERSONS PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P. | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | ||||||||||
(a) o | |||||||||||
(b) o | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
WC | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
Oklahoma | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 0 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 544,427 | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 0 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
544,427 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
544,427 | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
5.2% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
PN |
Page 4 of 11
CUSIP No. | M6786D104 |
1 | NAMES OF REPORTING PERSONS PHIL FROHLICH | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | ||||||||||
(a) o | |||||||||||
(b) o | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
PF | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
U.S. CITIZEN | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 544,427 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 0 | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 544,427 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
544,427 | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
5.2% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IN |
Page 5 of 11
CUSIP No. | M6786D104 |
Item 1. | Security and Issuer |
Issuer: | Magal Security Systems Ltd. P.O. Box 70, Industrial Zone Yehud 56100, Israel |
Item 2. | Identity and Background |
Page 6 of 11
CUSIP No. | M6786D104 |
Item 3. | Source and Amount of Funds |
Item 4. | Purpose of the Transaction |
Page 7 of 11
CUSIP No. | M6786D104 |
Item 5. | Interest in Securities of the Issuer |
Page 8 of 11
CUSIP No. | M6786D104 |
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer |
Item 7. | Material to be Filed as Exhibits |
Exhibit 1 | Joint Filing Agreement by and among Prescott Group Capital Management, L.L.C., Prescott Group Aggressive Small Cap, L.P., Prescott Group Aggressive Small Cap II, L.P. and Phil Frohlich dated June 14, 2010. |
Page 9 of 11
CUSIP No. | M6786D104 |
Prescott Group Capital Management, L.L.C. | ||||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Prescott Group Aggressive Small Cap, L.P. | ||||
By: | Prescott Group Capital Management, L.L.C., its general partner | |||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Prescott Group Aggressive Small Cap II, L.P. | ||||
By: | Prescott Group Capital Management, L.L.C., its general partner | |||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Phil Frohlich | ||||
By: | /s/ Phil Frohlich | |||
Phil Frohlich | ||||
Page 10 of 11
CUSIP No. | M6786D104 |
Prescott Group Capital Management, L.L.C. | ||||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Prescott Group Aggressive Small Cap, L.P. | ||||
By: | Prescott Group Capital Management, L.L.C., its general partner | |||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Prescott Group Aggressive Small Cap II, L.P. | ||||
By: | Prescott Group Capital Management, L.L.C., its general partner | |||
By: | /s/ Phil Frohlich | |||
Phil Frohlich, Managing Member | ||||
Phil Frohlich | ||||
By: | /s/ Phil Frohlich | |||
Phil Frohlich | ||||
Page 11 of 11
17 Altalef Street
Yehud 56100
Israel
A) | To appoint Mr. Avihu Ben-Nun as director of the Company effective as of the close of the Meeting. | ||
B) | To appoint Mr. Yoav Stern as director of the Company effective as of the close of the Meeting. | ||
C) | To appoint Mr. Zivi R. Nedivi as director of the Company effective as of the close of the Meeting. | ||
D) | To appoint Mr. Ami Amir as director of the Company effective as of the close of the Meeting. | ||
E) | To appoint Mr. Israel (Relik) Shafir as director of the Company effective as of the close of the Meeting. |
Sincerely, Prescott Group Aggressive Small Cap, L.P. | ||||
Name: | ||||
Title: | ||||
Prescott Group Aggressive Small Cap II, L.P. | ||||
Name: | ||||
Title: |
Clough Investment Partners I, L.P. | ||||
Name: | ||||
Title: | ||||
Clough Investment Partners II, L.P. | ||||
Name: | ||||
Title: | ||||
Clough Offshore Fund, Ltd. | ||||
Name: | ||||
Title: | ||||
Clough Global Equity Fund | ||||
Name: | ||||
Title: | ||||
Clough Global Allocation Fund | ||||
Name: | ||||
Title: | ||||
The Flatley Foundation | ||||
Name: | ||||
Title: |
Diker Micro-Value Fund, L.P. | ||||
Name: | ||||
Title: | ||||
Diker Micro-Value QP Fund, L.P. | ||||
Name: | ||||
Title: | ||||
Diker Micro and Small Cap Fund, L.P. | ||||
Name: | ||||
Title: | ||||
Diker M&S Cap Master, Ltd. | ||||
Name: | ||||
Title: |
1. | I am making this statement as required under Section 224B of the Israeli Companies Law, 1999. Such provision requires that I make the statements set forth below prior to, and as a condition to, the submission of my appointment as a director of the Company to the approval of the Company’s shareholders. |
1 | As of the date hereof, Section 226 of the Israeli Companies Law, 1999 provides that a candidate shall not be appointed as a director of a public company if he/she has been convicted by a final judgment of one or more offences specified below, unless five years have elapsed from the date the convicting judgment was granted or if the court has ruled, at the time of the conviction or thereafter, that he/she is not prevented from serving as a director of a public company: |
2 | As of the date hereof, Section 227 of the Israeli Companies Law, 1999 provides that a candidate shall not be appointed as a director of a company if he/she is a minor, legally incompetent, was declared bankrupt and not discharged, and with respect to a corporate body – in case of its voluntary dissolution or if a court order for its dissolution was granted. |
Signature: | ||||
Name: |
(Voting by Written Ballot and Statements of Position) 5766 — 2006
(the “Regulations”)
(1) | as directors of the Company of all members of the Board of Directors, including without limitation, Mr. Jacob Perry, Mr. Jacob Even-Ezra, Mr. Zeev Livne, Mr. Jacob Nuss and Mr. Barry Stiefel, but excluding Mr. Nathan Kirsh and the then serving external directors, effective as of the close of the Meeting. | ||
(2) | Provided that resolution no. (1) above is adopted: |
A) | To appoint Mr. Avihu Ben-Nun as director of the Company effective as of the close of the Meeting. | ||
B) | To appoint Mr. Yoav Stern as director of the Company effective as of the close of the Meeting. | ||
C) | To appoint Mr. Zivi R. Nedivi as director of the Company effective as of the close of the Meeting. | ||
D) | To appoint Mr. Ami Amir as director of the Company effective as of the close of the Meeting. | ||
E) | To appoint Mr. Israel (Relik) Shafir as director of the Company effective as of the close of the Meeting. |
Manner of Voting(1) | ||||||||||||
Number of item on the agenda | For | Against | Abstain | |||||||||
(1) | ||||||||||||
(2)-A | ||||||||||||
(2)-B | ||||||||||||
(2)-C | ||||||||||||
(2)-D | ||||||||||||
(2)-E |
(1) | No marking shall be deemed abstaining from voting with respect to the relevant mater |
Signature | Date |