0000950123-11-061830.txt : 20110627 0000950123-11-061830.hdr.sgml : 20110627 20110627112335 ACCESSION NUMBER: 0000950123-11-061830 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20110627 DATE AS OF CHANGE: 20110627 GROUP MEMBERS: PHIL FROHLICH GROUP MEMBERS: PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P. GROUP MEMBERS: PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P. GROUP MEMBERS: PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRESCOTT GROUP CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001166152 IRS NUMBER: 731554000 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1924 S UTICA SUITEF 1120 CITY: TULSA STATE: OK ZIP: 74104 BUSINESS PHONE: 9187473412 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BLUEPHOENIX SOLUTIONS LTD CENTRAL INDEX KEY: 0001029581 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-52583 FILM NUMBER: 11932189 BUSINESS ADDRESS: STREET 1: 8 MASKIT STREET CITY: HERZLIA STATE: L3 ZIP: 46120 BUSINESS PHONE: 972-9-952-6110 MAIL ADDRESS: STREET 1: 8 MASKIT STREET CITY: HERZLIA STATE: L3 ZIP: 46120 FORMER COMPANY: FORMER CONFORMED NAME: CRYSTAL SYSTEMS SOLUTIONS LTD DATE OF NAME CHANGE: 19961224 SC 13D/A 1 c19237sc13dza.htm SCHEDULE 13D/A Schedule 13D/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

BluePhoenix Solutions Ltd.
(Name of Issuer)
Ordinary shares, NIS 0.01 par value
(Title of Class of Securities)
M20157109
(CUSIP Number)
Phil Frohlich
1924 South Utica, Suite #1120
Tulsa, Oklahoma 74104-6429
(918) 747-3412
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 22, 2011
(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. o

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.
  
M20157109 
  

 

           
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   6,195,064
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   6,195,064
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  6,195,064
     
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)
   
  25.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IA

Page 2 of 7

 

                     
CUSIP No.
  
M20157109 
  

 

           
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   6,195,064
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    6,195,064
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  6,195,064
     
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)
   
  25.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 3 of 7

 

                     
CUSIP No.
  
M20157109 
  

 

           
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   6,195,064
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    6,195,064
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  6,195,064
     
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)
   
  25.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 4 of 7

 

                     
CUSIP No.
  
M20157109 
  

 

           
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   6,195,064
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   6,195,064
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  6,195,064
     
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)
   
  25.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

Page 5 of 7

 

SCHEDULE 13D/A
This Amendment No. 2 (this “Amendment”) to the Schedule 13D (the “Schedule 13D”) is being filed on behalf of Prescott Group Capital Management, L.L.C., an Oklahoma limited liability company (“Prescott Capital”), Prescott Group Aggressive Small Cap, L.P., an Oklahoma limited partnership (“Prescott Small Cap”), Prescott Group Aggressive Small Cap II, L.P., an Oklahoma limited partnership (“Prescott Small Cap II” and, together with Prescott Small Cap, the “Small Cap Funds”), and Mr. Phil Frohlich, the principal of Prescott Capital, relating to Ordinary shares, NIS 0.01 par value (the “Ordinary Shares”), of BluePhoenix Solutions Ltd., an Israeli company (the “Issuer”).
The Ordinary Shares held by Prescott Master Fund reported on this Schedule 13D were previously reported on a Schedule 13G/A filed with the Securities Exchange Commission on May 11, 2010 and a Schedule 13D filed with the Securities Exchange Commission on June 2, 2010, as subsequently amended on January 6, 2011. Capitalized terms used herein but not defined have the respective meanings given to them in the Schedule 13D.
Item 4 of the Schedule 13D is hereby amended by adding the following:
Item 4. Purpose of the Transaction
On June 24, 2011, the Reporting Persons formally requested a special meeting of the Issuer’s shareholders in order to allow the Reporting Persons the ability to increase their ownership stake in the Issuer above the current 25% ownership restriction. The Reporting Persons continue to have the long-held belief that the value of the Issuer’s assets are best maximized through the Issuer’s acquisition by a strategic acquirer.
Item 7 of the Schedule 13D is hereby supplemented as follows:
Item 7. Material to be Filed as Exhibits
Exhibit 99.2  
Letter to the Issuer from the Reporting Persons dated as of the 24th day of June, 2011.

 

Page 6 of 7

 

Signatures
After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: June 27, 2011
             
    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 7 of 7

EX-99.2 2 c19237exv99w2.htm EXHIBIT 99.2 Exhibit 99.2
EXHIBIT 99.2 — Letter to Issuer
June 24, 2011
BluePhoenix Solutions
8 Maskit Street
P.O. Box 12546
Herzlia, Israel 46733
Attention: Board of Directors
This letter should serve as formal notification that Prescott Group Capital Management, a holder of 6,195,064 shares of BluePhoenix common stock is requesting a Special Meeting of the Company’s shareholders in order to allow Prescott Group to increase its’ ownership stake in the Company above its current 25% ownership restriction. This request should not be interpreted as a change in our long-held belief that the value of the Company’s assets would best be maximized through the sale of the Company to a strategic buyer.
Respectfully submitted,
(PHIL FROHLICH)
Phil Frohlich
Manager
Prescott Group Capital Mgmt.

 

GRAPHIC 3 c19237c1923701.gif GRAPHIC begin 644 c19237c1923701.gif M1TE&.#EA[0!"`.8``-G6TZFEHI*-B]W;V>+@W?;V]+FUL[&MJHJ$@7)M:M/0 MSF%=6VIE8U)-3-O9UM'.RPD'"$E%0UE55,&]NX%]>LG&P^SJZ>WLZJ:BH'IU MV_'P[NKHYO[^_C(M+$(].Z2@GO7T\I:3D82` M?>;DXKNXM>CFY/CX]W9P;[MZQT9&L/`OL7"P/+Q\,O(QJRHI:*>G!42$OGX]QD5%5Y:6.?EY"8A(6UH M9E503HZ+B>3BX(R(A2$='3\Z.SL4]*2?CW]F9A7NKIYWQX M=2XJ*>/AWT9"0$0_/O3S\#@']Z>/GY^%=24/KZ M^4U(1C8Q,-;5U#4O+_O[^@\,#2PH)Y"+B!(/$",@'QL7%R,>'QP8&/W]_?W] M_/S\^_[^_?S\_/W\_-#.SL/!P,W+RW=R;Y^;EY^;F"TG)____R'Y!``````` M+`````#M`$(```?_@'^"@X2%AH>(B8J+C(V.CY"1DI.4E9:7?SQ:F)R=GI^@ MH:*(.(`9'<$`C+3(>)1,G>TQJ"P"XR\S- MHG(BG28>&20Y4S]XLH86Ɯ<[BX^2./-N6,SI314P<6P71B7(](PGE^/GZ MEP,+;4<8[$!"\@;$OH,($Q+B\<.*A`]T)'D`HDRAQ8OB>J")(T`,)1MM*F(< M27)4`#A'7%A:X"5-R9M0XX:F.B20S8@K-EP:DDDL`EGR1 M4HA,!1]:7#Y*@P'+FS!,AVIU5B*'!DLB+FQ`0Z"0"0D0(##I`PE*VK0>_[;* MQ65BPPF!E1IZN2)/$!6T$)R@H/"(QILR.V"H^3&W\2PQ$EKX-2<76&)06J%D!)8#+`R]$&(DJXTPCF(` MX3-H0H*LY3X\J%#6]3@Y80QH;B1GP![#$HR,Q!,A0@QI.R(:(""BT<<,@(B!@0",3 MJ#$!(3NTP!HE>`CQ!AP1?+%#"E+@98@4`6"AQEMI9:&`?LZT(``C!20!0P9, MY#"&!P1,5\@*2V0@QR!)9)#?(B)(,`)X@K0P1/\0F"1Q1!MI`0'!$FM$L<"5 M6%YY#(I",#&!!2PZ4T1SW,F00`(-?)$!!QX`\",C"1HH2!\+()F(`G%\\>8? M("#4,``N M362QP0(XD".%"8\045\;X]UBP0AMG`')!0L$)*Y@Z3!`0E,TD(#"FH(,4&LN#APH@2.X+F'"&U\3(L<&.3`1!:1<(!R M*`^7+$@29DS("`Y"8#&N(`6TT(7`H;`@01MEW`#T+5)(L$0."S@2!D5_`/&5 M+3V,L8$0C$&B@=:A2$#"($1,X80C34!P@F979*7%"('![`T"XA8*@Q9'%^I#"* M"#0,H4;KY=`P0@T+9''[(BKD<,`?/\1=2QH9%'%"\I+4RZ<"_EX2P`CZ_H%" M_PUQ%;)#6CX44H,0LA,RA!&S6!"!&GM,7$[B,BS1@2-."'%3%T.PQ01RP``5 MJ$$'D1A`WP0A!0:`@1,2,$,2Z)"`-JC`?H-005H&-P@>M(&#@WC`!CXP"AHL M``((N)`X3!"%&B1`>8Y`0Q3^0(<1:$\4.-B`%P#0@A%LYQ$G6.`?I#"$-6`B M#6M@@`E@(`0!Y*P0!6!##I9`B`IPC!!RZ`+11#$#(P@A`?#*APU\<<"U$4(! M:G@@$O='BS[4@`,?\$(8S&B(-&P`=(+00@9&@(D5M$$#)1`""E18,PZ@(76" MT``$1/('`BPA?:&0@P:Z]D-\5`$":(C`UQ;!`37@:O\`0L"C*!Q0@S4$`0-O M`-Q_6E`('AAA`YC8@AH:8$-)2"`'K,KB"'P'"CEP0`AE8&0Y>"`$"("P$1%P M@S(P0((0S`(Z$IK#&,I`-D;H80R%P`,!,<&&.*@!`9*X@A5F.`@KJK(3(N`# M!$8P.7Q($P)E"*,C@!`%,4AA`U6`62<,\(7W&&`-$?B##>#PO$AL`7X**P)" M*2&"&%A!#0(@Y"+T``1P"D(.7O`"(7<0`![0@8Z'<(&&*J`/$5C@"Q!8P^[F MB@$`1WC"&+\C@!0?_T(,>0B"&KM[!$$TP0Q$4`-):B(``;,B"&MY@ M@$\]X@9J:($<.E`#HWI"!T-X@0.6X+4``.%GDI@")`8`8N5+<3'RA!%IJU@0"X1`0E@$`/)J$"-`C!"I4$!16P8`0'C&$-5C:H M%Y(EA0@<8;B(J$X7VC`"#)PJS&-^!!`B@(4<'!<2-&B"$_:@Y3_4P0CBW5,M MZC```8"AB&H`PA!48%0J1($)B78$$=J@!C8H(@T?:"PD1/]P@`S(``PU*-@D M)C!I0H1@"0N(\R$L("`U?(%,@@`U@RY`!%DG8GUO4',D1-"'(P!`,TTX3+`G M409,$*B(S$@J7*LD.(X`T08*,D')`#-\2A`@!FT`?1>E`[RG`0)! M!@(@)5;0_P!'L(,-L`0G@F!_``)08"0N&`55@`)0@$&"0`1.D&LH5@D6D`44 M-@-,4`2^9PD;N`8-(%-_(`.9IT]W8`!%T`;$P0%MP'B=<`9J0#Z4D`;ILDZG M]@$^-B51,B4TD`8-@$V)0`!`D`$PDP8QL`%MP`1<*`@BH`5<0%1H<$XIL`!+ M(`3UP8%L\`$B\P:KD!9J`'.)4``>\%XYQPEGX`;']0&L@VF58`!Q@#9,\@%$ MM0=4D`9SD`(6U@9]8TC2Y@DT0`)KL%R2P`((``%"L`=1)P@6P`9F$`<1$`!Y ML(8%H'9`E0@3(&:#,`<9T`9PX#M9T`858`(A$`!1U08,8(J$\/\`7Q-'FQ4' M)D(8AU`'/&`#$0!/3A`!,$@).W!`@]`!$$!_G[`"X/8!(P`!;M``MV1,*B$( M:,0`H:`$8Y``X"`)@?8&-J!LB/`$;5!74?""BI`!:E`^*3`$T-4/:A`^95<$03<+5,`!:%8# M)-`!/?D';7`XGR!-0&``$X`%=M4(-A`'/Y!:-(`6ZZ,!XB@(L(8'-*`$.5`$ M,J!3!:`!"Q`!"\`&'A@HSA<%&M"6%#`$8V@/$T`#T5`&2(D)]3A@%0<X#_8080>XA0!SI0!A'``;FA"/B8`">T MB"(B"'0@!1<0(I[@``3X%FJ`!D>0`6<0#X-0`PV@!S$PF(;``ING".?#`'9@ M`@38:N.04:!`!"20`+F!`UF0,+10`-67"%'8#@*0`G=F"3S@`0&@!`%@`RN0 M8T@77U9P!`&0%#U\`!#"@AYR@`'ZP`/X!`&C@3/L0 M!"8`F?H@`%.0`\V"B7Z@!$FP)P```;=H"#L@!)!6`SEPD^30.$)0D)Q0`@`Q M"')P!"\@FV$R"D3@`1S@98^"!BA`!4'@`RBD"%:$!@P``3>4#Q?PA)CP/;?X M`!$`;AE:"W)PY`888`3_Z`99X`8Y4)2%<`$-8!]38',U.@@"@`8@)@AB$`$R M<*3+(`)D```GX`606*"'@`$IE6!0^@<"P`0%^I:=V:4@(P:GE@@@H`1/>:0P ML`1+*@@Z4`0/0*9T2A(*L`0<(&M/H`9H6*=^N@]$@`5>T)-[VJ=_>JCN4@9+ M`'F#@`%\BJB0*D930`%9<0?C9ZB1FJFW8`<1P#>"8`-JD`,&J*FDB@LWX`9O M\`,%\(\-()ZEVAA!X*KXH`)KH`9'(`1`\`*O&B8FD)S[,`=-P'=FH`'#N*O& /.@IT8`$\\)S'V@B!```[ ` end