<SEC-DOCUMENT>0001144969-19-000016.txt : 20190510 <SEC-HEADER>0001144969-19-000016.hdr.sgml : 20190510 <ACCEPTANCE-DATETIME>20190510141846 ACCESSION NUMBER: 0001144969-19-000016 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190331 FILED AS OF DATE: 20190510 DATE AS OF CHANGE: 20190510 EFFECTIVENESS DATE: 20190510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RUTABAGA CAPITAL MANAGEMENT LLC/MA CENTRAL INDEX KEY: 0001128239 IRS NUMBER: 043451870 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-06017 FILM NUMBER: 19814242 BUSINESS ADDRESS: STREET 1: 64 BROAD STREET STREET 2: 3RD FLOOR CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-204-1160 MAIL ADDRESS: STREET 1: 64 BROAD STREET STREET 2: 3RD FLOOR CITY: BOSTON STATE: MA ZIP: 02109 </SEC-HEADER> <DOCUMENT> <TYPE>13F-HR <SEQUENCE>1 <FILENAME>primary_doc.xml <TEXT> <XML> <?xml version="1.0" encoding="UTF-8"?> <edgarSubmission xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:com="http://www.sec.gov/edgar/common"> <headerData> <submissionType>13F-HR</submissionType> <filerInfo> <liveTestFlag>LIVE</liveTestFlag> <flags> <confirmingCopyFlag>false</confirmingCopyFlag> <returnCopyFlag>true</returnCopyFlag> <overrideInternetFlag>false</overrideInternetFlag> </flags> <filer> <credentials> <cik>0001128239</cik> <ccc>XXXXXXXX</ccc> </credentials> </filer> <periodOfReport>03-31-2019</periodOfReport> </filerInfo> </headerData> <formData> <coverPage> <reportCalendarOrQuarter>03-31-2019</reportCalendarOrQuarter> <filingManager> <name>RUTABAGA CAPITAL MANAGEMENT LLC/MA</name> <address> <com:street1>64 BROAD STREET</com:street1> <com:street2>3RD FLOOR</com:street2> <com:city>BOSTON</com:city> <com:stateOrCountry>MA</com:stateOrCountry> <com:zipCode>02109</com:zipCode> </address> </filingManager> <reportType>13F HOLDINGS REPORT</reportType> <form13FFileNumber>028-06017</form13FFileNumber> <provideInfoForInstruction5>N</provideInfoForInstruction5> </coverPage> <signatureBlock> <name>Dana Cohen</name> <title>Principal</title> <phone>6172041160</phone> <signature>Dana Cohen</signature> <city>Boston</city> <stateOrCountry>MA</stateOrCountry> <signatureDate>05-10-2019</signatureDate> </signatureBlock> <summaryPage> <otherIncludedManagersCount>0</otherIncludedManagersCount> <tableEntryTotal>46</tableEntryTotal> <tableValueTotal>361852</tableValueTotal> <isConfidentialOmitted>false</isConfidentialOmitted> </summaryPage> </formData> </edgarSubmission> </XML> </TEXT> </DOCUMENT> <DOCUMENT> <TYPE>INFORMATION TABLE <SEQUENCE>2 <FILENAME>RCM13F0319Final.xml <TEXT> <XML> <?xml version="1.0" encoding="UTF-8" standalone="yes"?> <n1:informationTable xmlns:n1="http://www.sec.gov/edgar/document/thirteenf/informationtable"> <n1:infoTable> <n1:nameOfIssuer>ARCOSA INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>039653100</n1:cusip> <n1:value>13432</n1:value> 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<n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>GRANITE CONSTRUCTION INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>387328107</n1:cusip> <n1:value>12095</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>280302</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>239705</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>HILL INTERNATIONAL INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>431466101</n1:cusip> <n1:value>2313</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>792200</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>792200</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> 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<n1:nameOfIssuer>L.B. FOSTER COMPANY</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>350060109</n1:cusip> <n1:value>1391</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>73908</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>73908</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>LINDBLAD EXPEDITIONS HOLDINGS INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>535219109</n1:cusip> <n1:value>12357</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>810324</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>692979</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>MANITEX INTERNATIONAL INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>563420108</n1:cusip> <n1:value>5310</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>694061</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>694061</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>MANITOWOC COMPANY, INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>563571405</n1:cusip> <n1:value>12477</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>760332</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>650219</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>MATRIX SERVICE COMPANY</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>576853105</n1:cusip> <n1:value>4903</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>250402</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>250402</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>MATTHEWS INTERNATIONAL CORPORATION</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>577128101</n1:cusip> <n1:value>11095</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>300271</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>256812</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>MISTRAS GROUP INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>60649T107</n1:cusip> 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<n1:sshPrnamt>478442</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>409205</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>NORTHERN TECHNOLOGIES INTL</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>665809109</n1:cusip> <n1:value>4038</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>150970</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>150970</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>PCTEL INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>69325Q105</n1:cusip> <n1:value>4719</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>941895</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>941895</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>PEAK RESORTS INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>70469L100</n1:cusip> <n1:value>5194</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>1141439</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>1141439</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>QAD INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>74727D306</n1:cusip> <n1:value>4510</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>104716</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>104716</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>RED LION HOTELS CORP</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>756764106</n1:cusip> <n1:value>3887</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>481052</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>481052</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>RTI SURGICAL HOLDINGS, INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>74975N105</n1:cusip> <n1:value>5478</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>911417</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>911417</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>SPX FLOW INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>78469X107</n1:cusip> <n1:value>11495</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>360333</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>308082</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TEAM INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>878155100</n1:cusip> <n1:value>4121</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>235509</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>235509</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TECNOGLASS INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>G87264100</n1:cusip> <n1:value>4820</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>662052</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>662052</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TEXTAINER GROUP HOLDINGS LIMITED</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>G8766E109</n1:cusip> <n1:value>9722</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>1007430</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>861265</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>THE ANDERSONS INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>034164103</n1:cusip> <n1:value>11743</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>364347</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>310844</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>THE BANCORP INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>05969A105</n1:cusip> <n1:value>11883</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>1470729</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>1258503</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>THE CONTAINER STORE GROUP INC</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>210751103</n1:cusip> <n1:value>7314</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>831103</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>831103</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>THERMON GROUP HOLDINGS, INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>88362T103</n1:cusip> <n1:value>12589</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>513638</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>439177</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TITAN INTERNATIONAL INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>88830M102</n1:cusip> <n1:value>5997</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>1004548</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>858841</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TITAN MACHINERY, INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>88830R101</n1:cusip> <n1:value>4486</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>288279</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>288279</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>TRECORA RESOURCES</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>894648104</n1:cusip> <n1:value>4801</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>528131</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>528131</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>UMH PROPERTIES INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>903002103</n1:cusip> <n1:value>4952</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>351673</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>351673</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>VAREX IMAGING CORPORATION</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>92214X106</n1:cusip> <n1:value>12732</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>375806</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>321337</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> <n1:infoTable> <n1:nameOfIssuer>WESCO AIRCRAFT HOLDINGS, INC.</n1:nameOfIssuer> <n1:titleOfClass>Common</n1:titleOfClass> <n1:cusip>950814103</n1:cusip> <n1:value>12433</n1:value> <n1:shrsOrPrnAmt> <n1:sshPrnamt>1414405</n1:sshPrnamt> <n1:sshPrnamtType>SH</n1:sshPrnamtType> </n1:shrsOrPrnAmt> <n1:investmentDiscretion>SOLE</n1:investmentDiscretion> <n1:votingAuthority> <n1:Sole>1209289</n1:Sole> <n1:Shared>0</n1:Shared> <n1:None>0</n1:None> </n1:votingAuthority> </n1:infoTable> </n1:informationTable> </XML> </TEXT> </DOCUMENT> </SEC-DOCUMENT>