SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

 

 

Tower Semiconductor Ltd.

(Name of Issuer)

Ordinary Shares, NIS 15.00 par value per share

(Title of Class of Securities)

M87915-10-0

(CUSIP Number)

Ronen Meidan

Bank Hapoalim B.M.

45 Rothschild Blvd.

Tel Aviv 6578403, Israel

972-3-5674174

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 24, 2013

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-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 §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

 

 


CUSIP No. M87915-10-0   13D   Page 2 of 10

 

 

 

  1.     

Names of Reporting Persons.

Bank Hapoalim B.M.

 

I.R.S. Identification Nos. of above persons (entities only).

Not applicable.

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨        (b)  x

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions) OO

 

  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

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power – 7,632,282

 

     8.   

Shared Voting Power - 29,887

 

     9.   

Sole Dispositive Power - 7,632,282

 

   10.   

Shared Dispositive Power – 29,887

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person – 7,662,169

 

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  x

 

13.  

Percent of Class Represented by Amount in Row (11) – 15.4% (1)

 

14.  

Type of Reporting Person (See Instructions)

 

    BK

 

(1) Based on the number of Ordinary Shares outstanding as at July 3, 2013, as reported by Tower to the Tel Aviv Stock Exchange (the TASE), and calculated in accordance with rule 13d-3(d)(1)(i).


CUSIP No. M87915-10-0   13D   Page 3 of 10

 

 

 

  1.     

Names of Reporting Persons.

Tarshish Hahzakot Vehashkaot Hapoalim Ltd.

 

I.R.S. Identification Nos. of above persons (entities only).

Not applicable.

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨        (b)  x

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions) OO

 

  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

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power - 0

 

     8.   

Shared Voting Power - 29,887

 

     9.   

Sole Dispositive Power - 0

 

   10.   

Shared Dispositive Power - 29,887

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person - 29,887

 

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  x

 

13.  

Percent of Class Represented by Amount in Row (11) - less than 0.01% (1)

 

14.  

Type of Reporting Person (See Instructions)

 

    CO

 

(1) Based on number of Ordinary Shares outstanding as at July 3, 2013, as reported to the TASE, and calculated in accordance with rule 13d-3(d)(1)(i).


CUSIP No. M87915-10-0   13D   Page 4 of 10

 

 

 

The statement on Schedule 13D, dated February 3, 2011, of Bank Hapoalim B.M. (“Hapoalim”) and Tarshish Hahzakot Vehashkaot Hapoalim Ltd. (“Tarshish”), as amended by Amendment No. 1 thereto, dated June 10, 2013, is hereby further amended as follows:

 

Item 2. Identity and Background

Schedule A is hereby amended to read in its entirety as attached hereto and incorporated by reference.

 

Item 3. Source and Amount of Funds or Other Consideration

Item 3 is hereby amended to add the following sentence at the end thereof:

“The source of the US $1,750,660 subscription price to exercise 87,533 of the Rights (as defined in Item 5 below) on June 27, 2013 was the working capital of Hapoalim.”

 

Item 4. Purpose of Transaction

Item 4 is hereby amended to add the following sentence at the end thereof:

“The purpose of the exercise of 87,533 of the Rights (as defined in Item 5 below) on June 27, 2013 was to utilise a short-term opportunity to purchase Tower securities at what Hapoalim believed to be an attractive price.”

 

Item 5. Interest in Securities of the Issuer

Item 5(a)-(c) is hereby amended to read in its entirety as follows:

“To the knowledge of the Reporting Persons:

 

(a)      (1)      Hapoalim is the beneficial owner of 7,662,169 Ordinary Shares, including 5,660,626 Ordinary Shares issuable upon conversion of currently convertible capital notes, 170,374 Ordinary Shares issuable upon exercise of currently exercisable warrants (including warrants to purchase 140,487 Ordinary Shares held by Hapoalim and a warrant to purchase 29,887 Ordinary Shares held by Tarshish, its wholly-owned subsidiary) expiring on December 31, 2016, 525,198 Series 8 Warrants expiring on July 22, 2013 and 437,665 Series 9 Warrants expiring on June 27, 2017. Hapoalim (and Tarshish’s) ownership, as aforesaid collectively represents approximately 15.4% of the Ordinary Shares outstanding as at July 3, 2013, as reported by Tower to the TASE, and calculated in accordance with Rule 13d-3(d)(1)(i).
     (2)      Tarshish is the beneficial owner of 29,887 Ordinary Shares issuable upon exercise of a currently exercisable warrant, representing less than 0.01% of the Ordinary Shares outstanding as at July 3, 2013 as reported by Tower and calculated in accordance with Rule 13d-3(d)(1)(i).

 

  (b) Hapoalim has sole voting and dispositive power over 7,632,282 Ordinary Shares, including 5,660,626 Ordinary Shares issuable upon conversion of currently convertible capital notes, 140,487 Ordinary Shares issuable upon exercise of currently exercisable warrants expiring on December 31, 2016, 525,198 Series 8 Warrants expiring on July 22, 2013 and 437,665 Series 9 Warrants expiring on June 27, 2017 and Hapoalim and Tarshish share voting and dispositive power over 29,887 Ordinary Shares issuable upon exercise of a currently exercisable warrant held by Tarshish expiring on December 31, 2016.


CUSIP No. M87915-10-0   13D   Page 5 of 10

 

 

 

  (c) Save for the following transactions, neither Hapoalim nor Tarshish has effected any transactions in the Ordinary Shares during the past sixty (60) days:

Set forth below are the dates of sale, number and average price per share of Ordinary Shares sold by Hapoalim on NASDAQ on June 13, 2013 and over the counter on June 21, 2013:

 

Date

   Number of Shares      Price Per Share  

June 13, 2013

     70,129       US $ 5.320   

June 21, 2013

     46,000       US $ 5.198   

On June 13, 2013, Tower distributed, for each 44 Ordinary Shares either (a) owned by its shareholders or (b) that holders of its options, capital notes and certain warrants (including the warrants held by Hapoalim) would be entitled to receive upon exercise or conversion thereof, a transferable right (“the Right”) to purchase, for a subscription price of US $20.00:

 

   

Four Ordinary Shares;

 

   

Six Series 8 Warrants, each of said warrants permits the warrantholder to purchase an Ordinary Share at a price of US $5.00 per share until July 22, 2013; and

 

   

Five Series 9 Warrants, each of said warrants permits the warrantholder to purchase an Ordinary Share at a price of US $7.33 per share until June 27, 2017.

In such Rights distribution, Hapoalim received 146,937 Rights.

The Rights expired on June 27, 2013, but were listed for trading on the TASE for one trading day only on June 24, 2013.

On June 24, 2013, Hapoalim sold 59,404 Rights on the TASE for an average price of US $3.35 per Right. Although all sales were made in New Israel Sheqels (“NIS”), the U.S. Dollar Price set forth above reflects conversion of such NIS Price into U.S. Dollars based on the relevant Representative Rate published by the Bank of Israel.

On June 27, 2013, Hapoalim exercised a total of 87,533 Rights for a total subscription price of US $1,750,660.


CUSIP No. M87915-10-0   13D   Page 6 of 10

 

 

 

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

July 9, 2013

Date   
/s/ Arie Stainfeld                                         /s/ Ronen Meidan
Signature   
Bank Hapoalim B.M.            
Arie Stainfeld, Head of Exposures                                         Ronen Meidan, Head of
and Risk Management Department                                         Equity Investments Unit
Name/Title   

July 9, 2013

Date   
/s/ Arie Stainfeld                                   /s/ Ronen Meidan
Signature   
Tarshish Hahzakot Vehashkaot Hapoalim Ltd.        
Arie Stainfeld, Director                                         Ronen Meidan, Director
Name/Title   


CUSIP No. M87915-10-0   13D   Page 7 of 10

 

 

 

SCHEDULE A

Information Regarding Senior Officers and Directors of Bank Hapoalim B.M.

Board of Directors

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Yair Seroussi    63 Yehuda Halevi St., Tel Aviv, Israel    Chairman of the Board of Bank Hapoalim B.M.    Israel
Irit Izakson    63 Yehuda Halevi St., Tel Aviv, Israel    Chairman of the Boards of Directors of the credit-card companies in the Bank Group, director in various companies    Israel
Mali Baron    63 Yehuda Halevi St., Tel Aviv, Israel    Director of companies    Israel
Amnon Dick    63 Yehuda Halevi St., Tel Aviv, Israel    Businessman, partner in communications companies, consultant and director. CEO of Adsensory Ltd.    Israel
Meir Wietchner    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Global strategy for the Arison Group and Chairman of the Miya Group    Israel
Nir Zichlinskey    63 Yehuda Halevi St., Tel Aviv, Israel    President and CEO of SRI Global Group    Israel
Imri Tov    63 Yehuda Halevi St., Tel Aviv, Israel    Director of companies; business consultant and researcher in defense economics    Israel
Yaacov Peer    63 Yehuda Halevi St., Tel Aviv, Israel    Financial and managerial consultant for small businesses    Israel
Efrat Peled    63 Yehuda Halevi St., Tel Aviv, Israel   

Chairman of the Board and CEO of the following companies: Arison Holdings (1998) Ltd.,

Arison Investments Ltd.,

Arison Sustainability Ltd.,

Arzaf Ltd., Arzaf B (97) Ltd., and Arzaf D Ltd. and CEO of the following companies: SAFO LLC and Arzaf C Ltd.

   Israel
Nehama Ronen    63 Yehuda Halevi St., Tel Aviv, Israel    Chairperson of the Board of Directors of Maman Cargo Terminals Ltd. and Recycling Corporation (ELA)    Israel
Moshe Koren    63 Yehuda Halevi St., Tel Aviv, Israel    Banking and financial consultant    Israel
Dafna Schwartz    63 Yehuda Halevi St., Tel Aviv, Israel    Professor and member of staff at the Department of Business Administration, Faculty of Management, Ben Gurion University of the Negev, Economic and business consultant in Israel and overseas    Israel
Ido Stern    63 Yehuda Halevi St., Tel Aviv, Israel    Deputy General Manager and legal counsel at Arison Holdings (1998) Ltd. and Arison Investments Ltd.    Israel
Yair Tauman    63 Yehuda Halevi St., Tel Aviv, Israel    Professor at the Interdisciplinary Center Herzliya and at the State University of New York at Stony Brook    Israel
Yosef Yarom    63 Yehuda Halevi St., Tel Aviv, Israel    Lecturer on auditing in the business sector at Haifa University    Israel & Argentina


CUSIP No. M87915-10-0   13D   Page 8 of 10

 

 

 

Senior Officers

 

Name

  

Business Address

  

Principal Occupation

  

Citizenship

Zion Kenan    63 Yehuda Halevi St., Tel Aviv, Israel    President and Chief Executive Officer    Israel
Lilach Asher-Topilsky    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Retail Banking    Israel
Shimon Gal    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Corporate Banking    Israel
Efrat Yavetz    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Human Capital, Advising, and Resources    Israel
Ofer Levy    63 Yehuda Halevi St., Tel Aviv, Israel    Chief Accountant    Israel
Anath Levin    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Financial Markets    Israel
Ilan Mazur    63 Yehuda Halevi St., Tel Aviv, Israel    Chief Legal Adviser    Israel
Ran Oz    63 Yehuda Halevi St., Tel Aviv, Israel    Chief Financial Officer    Israel
Ari Pinto    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Corporate Strategy    Israel
Dan Alexander Koller    63 Yehuda Halevi St., Tel Aviv, Israel    Head of International Banking    Israel
Jacob Orbach    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Internal Audit in Israel and abroad    Israel
Yoram Weissbrem    63 Yehuda Halevi St., Tel Aviv, Israel    Corporate Secretary    Israel
Tsahi Cohen    63 Yehuda Halevi St., Tel Aviv, Israel    Chief Risk Officer    Israel
Zvi Naggan    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Information Technology    Israel


CUSIP No. M87915-10-0   13D   Page 9 of 10

 

 

 

PRINCIPAL HOLDERS OF THE

ISSUED SHARE CAPITAL OF BANK HAPOALIM B.M.

 

NAME

   % OF CAPITAL  

ARISON HOLDINGS (1998) LTD

     20.3

SALT OF THE EARTH LTD

     1.3

Arison Holdings (1998) Ltd. - Director Information

 

Name

  

Address

  

Citizenship

  

Principal Occupation

Irit Izakson    63 Yehuda Halevi St., Tel-Aviv, Israel    Israel    Chairman of Isracard; director in various companies
Shari Arison    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel & USA    Investor
James M. Dubin    c/o Paul Weiss, 1285 Avenue of the Americas, New York, NY    USA    Attorney - Paul Weiss
Jason Arison    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel & USA    Chairman, The Ted Arison Family Foundation (Israel) Ltd.
David Arison    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel & USA    Officer of MIYA, an Arison Group Company
Cassie Arison    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel & USA    Student
Efrat Peled    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel    Chairman of the Board and CEO of Arison Holdings (1998) Ltd., CEO and director in various companies


CUSIP No. M87915-10-0   13D   Page 10 of 10

 

 

 

Salt Of The Earth Ltd. - Director Information

 

Name

  

Address

  

Citizenship

  

Principal Occupation

Efrat Peled    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel    Chairman of the Board and CEO - Arison Holdings (1998) Ltd., CEO and director in various companies
Dovik Tal    Atlit, Israel    Israel    CEO - Israel Salt Industries Ltd.
Moshe Lahmani    23 Shaul Hamelech Blvd., Tel-Aviv, Israel    Israel    CFO - Arison Holdings (1998) Ltd.
Ido Stern    63 Yehuda Halevi St., Tel Aviv, Israel    Israel    Deputy General Manager and legal counsel at Arison Holdings (1998) Ltd. and Arison Investments Ltd.

Information Regarding Senior Officers and Directors

of Tarshish Hahzakot Vehashkaot Hapoalim Ltd.

Board of Directors

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Eran Zimmerman    45 Rothschild Blvd., Tel-Aviv, Israel    CEO (Tarshish). SVP capital management - Bank Hapoalim B.M.    Israel
Anath Levin    63 Yehuda Halevi St., Tel Aviv, Israel    Head of Financial Markets - Bank Hapoalim B.M.    Israel
Yoram Weissbrem    63 Yehuda Halevi St., Tel Aviv, Israel    Corporate Secretary of Bank Hapoalim B.M.    Israel
Ronen Meidan    45 Rothschild Blvd., Tel-Aviv, Israel    Head of Equity Investment Unit- Bank Hapoalim B.M.    Israel
Arie Stainfeld    45 Rothschild Blvd., Tel-Aviv, Israel    Head of Exposures and Risk Management Department- Bank Hapoalim B.M.    Israel
Guy Kalif, C.P.A. (Isr)    11 Hanegev St., Tel-Aviv, Israel    Manager, Comptroller Division - Bank Hapoalim B.M.    Israel