-----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, PVuaNHhUELt0GZMtU+eIPEqZ3oOWo9ulE/s9+izUmdOrYuHefpzx4D9BeJBtiyvS waaGKyUIbJTa/JqI+vzz4g== 0001072613-04-000985.txt : 20040507 0001072613-04-000985.hdr.sgml : 20040507 20040507172818 ACCESSION NUMBER: 0001072613-04-000985 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040507 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST ISRAEL FUND INC CENTRAL INDEX KEY: 0000865277 IRS NUMBER: 061302759 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-54927 FILM NUMBER: 04790306 BUSINESS ADDRESS: STREET 1: C/O CREDIT SUISSE ASSET MGMT, LLC STREET 2: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128753500 MAIL ADDRESS: STREET 1: CREDIT SUISSE ASSET MGMT, LLC STREET 2: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: ISRAEL CAPITAL FUND INC DATE OF NAME CHANGE: 19900826 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CITY OF LONDON INVESTMENT GROUP PLC CENTRAL INDEX KEY: 0001018138 STATE OF INCORPORATION: X0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 10 EASTCHEAP STREET 2: LONDON ENGLAND EC3MLAJ CITY: LONDON BUSINESS PHONE: 011441717110771 MAIL ADDRESS: STREET 1: 10 EASTCHEAP STREET 2: LONDON ENLAND EC3MLAJ CITY: LONDON FORMER COMPANY: FORMER CONFORMED NAME: OLLIFF & PARTNERS PLC DATE OF NAME CHANGE: 19960705 SC 13D 1 sch13d_12672a.txt SCHEDULE 13D FOR THE ISRAEL FUND, INC. - ------------------- ------------ CUSIP No. 32063L100 13D Page 1 of 10 - ------------------- ------------ 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) The First Israel Fund, Inc -------------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------- (Title of Class of Securities) 32063L100 --------- (CUSIP Number) Barry M. Olliff c/o City of London Investment Management Company Limited 10 Eastcheap, London EC3M ILX, England +44 207 711 0771 ---------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 30, 2004 -------------- (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), (f) or (g), check the following box / /. *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 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. (Page 1 of 10 Pages) - ------------------- ------------ CUSIP No. 32063L100 13D Page 2 of 10 - ------------------- ------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS City of London Investment Group PLC, a company incorporated under the laws of England and Wales. - ------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION England and Wales - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 852,809 BENEFICIALLY ------- ----------------------------------------------- 8 SHARED VOTING POWER OWNED BY 0 EACH ------- ----------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON 852,809 ------- ----------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 852,809 - ------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.0% - ------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC ======= ======================================================================= - ------------------- ------------ CUSIP No. 32063L100 13D Page 3 of 10 - ------------------- ------------ - ------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS City of London Investment Management Company Limited, a company incorporated under the laws of England and Wales. - ------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION England and Wales - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 771,609 BENEFICIALLY ------- ----------------------------------------------- 8 SHARED VOTING POWER OWNED BY 0 EACH ------- ----------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING 771,609 PERSON ------- ----------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - ------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 771,609 - ------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.1% - ------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA ======= ======================================================================= - ------------------- ------------ CUSIP No. 32063L100 13D Page 4 of 10 - ------------------- ------------ Item 1. SECURITY AND ISSUER. -------------------- This statement relates to the shares of common stock, par value $.01 per share (the "Shares"), of The First Israel Fund, Inc. (the "Fund"). The principal executive offices of the Fund are located at Credit Suisse Asset Management, LLC, 466 Lexington Avenue New York, NY 10017 USA. Item 2. IDENTITY AND BACKGROUND. ------------------------ (a), (b) and (c). This statement is being filed by City of London Investment Group PLC ("CLIG") and City of London Investment Management Company Limited ("CLIM," and together with CLIG, the "Reporting Persons"). The principal business of CLIG is serving as the parent holding company for the City of London group of companies, including CLIM. The business address and principal executive offices of CLIG are 10 Eastcheap, London EC3M ILX, England. The directors and executive officers of CLIG, their business addresses and present principal occupation or employment are set forth on Annex A attached to this Schedule 13D. CLIM is an emerging markets fund manager which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by CLIG. CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including The Emerging World Fund ("EWF"), a Dublin, Ireland-listed open-ended investment company, Global Emerging Markets Country Fund ("GEM"), a private investment fund organized as a Delaware business trust, Investable Emerging Markets Country Fund ("IEM"), a private investment fund organized as a Delaware business trust, Emerging Free Markets Country Fund ("Free"), a private investment fund organized as a Delaware business trust, GFM (Institutional) Emerging Markets Country Fund ("GFM"), an open-ended fund organized under the laws of the Province of Ontario, Tradex Global Equity Fund ("Tradex"), an Ontario mutual fund and three segregated accounts. The business address and principal executive offices of CLIM are 10 Eastcheap, London EC3M ILX, England. The directors and executive officers of CLIM, their business addresses and present principal occupation or employment are set forth on Annex A attached to this Schedule 13D. CLIG also controls City of London Quantitative Management Ltd. ("CLQM"), which acts as an investment adviser to Global Optimization Fondo de Inversion Internacional ("Global"), a closed-end fund organized under the laws of Chile. EWF, GEM, IEM, MPEM, GFM, and Global are referred to herein as the "City of London Funds." The Shares to which this Schedule 13D relates are owned directly by the City of London Funds and segregated accounts. (d) and (e). During the last five years, none of the - ------------------- ------------ CUSIP No. 32063L100 13D Page 5 of 10 - ------------------- ------------ Reporting Persons or, to the knowledge or belief of the Reporting Persons, none of the natural persons identified in this Item 2, has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanours), or has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction and 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 violations with respect to such laws. (f). Each of the Reporting Persons is a company incorporated under the laws of England and Wales. Each natural person identified in this Item 2 is a citizen of Great Britain. Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. -------------------------------------------------- Beneficial ownership of the Shares to which this statement relates was acquired by the Reporting Persons with invested capital of the City of London Funds. The aggregate purchase price of the 852,809 Shares beneficially owned by the Reporting Persons was $9,335,523, inclusive of brokerage commissions. The aggregate purchase price of the 67,187 Shares beneficially owned by EWF was $706,882, inclusive of brokerage commissions. The aggregate purchase price of the 127,779 Shares beneficially owned by GEM was $1,270,574, inclusive of brokerage commissions. The aggregate purchase price of the 127,779 Shares beneficially owned by IEM was $992,296, inclusive of brokerage commissions. The aggregate purchase price of the 65,000 Shares beneficially owned by GFM was $795,994, inclusive of brokerage commissions. The aggregate purchase price of the 127,779 Shares beneficially owned by FREE was $1,428,790, inclusive of brokerage commissions. The aggregate purchase price of the 248,885 Shares beneficially owned by the three segregated client accounts was $3,080,053, inclusive of brokerage commissions. The aggregate purchase price of the 81,200 Shares beneficially owned by Global was $968,851, inclusive of brokerage commissions. The aggregate purchase price of the 7,200 Shares beneficially owned by Tradex was $88,632, inclusive of brokerage commissions. Item 4. PURPOSE OF TRANSACTION. ----------------------- - ------------------- ------------ CUSIP No. 32063L100 13D Page 6 of 10 - ------------------- ------------ The Reporting Persons do not currently have any plans or proposals which relate to or would result in any of the actions set forth in parts (a) through (j) of Item 4, and the Reporting Persons have made their investment in the Fund in the ordinary course of their business and not for the purpose of changing or influencing the control of the Fund. The Reporting Persons reserve the right at any time in the future to increase, decrease or eliminate its investment in the Fund or take any other action relative thereto. Item 5. INTERESTS IN SECURITIES OF THE ISSUER. -------------------------------------- (a) and (b). As of April 30, 2004, EWF, GEM, IEM, GFM, FREE, the segregated client accounts, Tradex and Global owned directly 67,187, 127,779, 127,779, 65,000, 127,779, 248,885, 7,200 and 81,200 Shares, respectively, representing approximately 1.58%, 3.0%, 3.0%, 1.53%, 3.0%, 5.84%, 0.17% and 1.91%, respectively, of the 4,259,295 Shares outstanding. As of April 30, 2004, CLIG, through its control of CLIM, had sole voting and dispositive power with respect to all 852,809 Shares owned directly by the City of London Funds, representing approximately 20% of the 4,259,295 Shares outstanding. As of April 30, 2004, CLIM, in its capacity as investment adviser to the City of London Funds, had sole voting and dispositive power with respect to all 771,609 Shares owned directly by the City of London Funds, representing approximately 18.1% of the 4,259,295 Shares outstanding. (c). Information with respect to all transactions in the Shares beneficially owned by the Reporting Persons that were effected during the past 60 days is set forth in Annex B to this Schedule 13D. (d). None (e). Not Applicable Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS -------------------------------------------------------- WITH RESPECT TO SECURITIES OF THE ISSUER. ----------------------------------------- Except as set forth in Item 4 of this Schedule 13D, none of the Reporting Persons has any contract, arrangement, understanding or relationship (legal or otherwise) with any person with respect to any securities of the Fund including, but not limited to, any contract, arrangement, understanding or relationship concerning the transfer or the voting of any securities of the Fund, joint ventures, loan or option arrangements, puts or calls, guaranties of profits, division of profits or losses, or the giving or withholding of proxies. - ------------------- ------------ CUSIP No. 32063L100 13D Page 7 of 10 - ------------------- ------------ Item 7. Material to Be Filed as Exhibits. None - ------------------- ------------ CUSIP No. 32063L100 13D Page 8 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. Dated: May 7, 2004 CITY OF LONDON INVESTMENT GROUP PLC /s/ Barry M. Olliff ------------------------------------ Name: Barry M. Olliff Title: Director CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED /s/ Barry M. Olliff ------------------------------------ Name: Barry M. Olliff Title: Director - ------------------- ------------ CUSIP No. 32063L100 13D Page 9 of 10 - ------------------- ------------ ANNEX A ------- DIRECTORS AND EXECUTIVE OFFICERS The names of the directors and executive officers of CLIG and their business addresses and present principal occupation or employment are set forth below. If no business address is given, the business address of such director or executive officer is c/o City of London Investment Group PLC, 10 Eastcheap, London EC3M ILX, England. Andrew Davison Chairman Barry Olliff Chief Executive Officer Douglas Allison Finance Director Peter O'Sullivan Compliance Director Omar Ashur Non-Executive Director George Robb Non-Executive Director The names of the directors and executive officers of CLIM and their business addresses and present principal occupation or employment are set forth below. If no business address is given, the business address of such director or executive officer is c/o City of London Investment Management Limited, 10 Eastcheap, London EC3M ILX, England. Barry Olliff Chief Investment Officer Douglas Allison Finance Director Peter O'Sullivan Compliance Director Clayton Gillece Director Michael Russell Director Thomas Griffith Director Carlos Yuste Director Christopher Weaver Director - ------------------- ------------- CUSIP No. 32063L100 13D Page 10 of 10 - ------------------- ------------- ANNEX B ------- INFORMATION WITH RESPECT TO TRANSACTIONS IN THE FUND'S COMMON STOCK DURING THE PAST SIXTY DAYS Number of Shares of Common Trade Stock Purchased/ Fund which Price per Date (Sold)(1) Purchased (Sold)(1) Share US$ 4/30/2004 300 Global 12.38 4/29/2004 500 Global 12.52 4/26/2004 1,900 Global 12.62 4/20/2004 2,900 Global 12.72 4/19/2004 1,700 Global 12.71 4/15/2004 2,300 Accounts 12.48 4/14/2004 1,000 Global 12.36 4/13/2004 1,100 Accounts 12.50 4/12/2004 2,500 Accounts 12.59 4/12/2004 5,500 Global 12.61 4/7/2004 15,300 Global 12.49 4/6/2004 3,500 Accounts 12.40 4/5/2004 4,400 Accounts 12.42 3/31/2004 14,200 Accounts 12.26 3/24/2004 8,900 Global 12.24 3/22/2004 3,400 Global 12.26 3/16/2004 1,100 Global 12.31 3/12/2004 2,600 Global 12.25 3/8/2004 (400) (GFM) 13.00 3/5/2004 (10,000) (GFM) 13.00 3/3/2004 (1,800) (GFM) 13.00 (1) All purchases/sales were effected through open market or privately negotiated transactions. -----END PRIVACY-ENHANCED MESSAGE-----