-----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, OKq/Yn4n327w07tNB1vgxQkp6RIs2/C4SdauykzkTGT7xhREqzSwDepqqhquyC48 h+39bTJWlvvrXTyoBthnRA== 0001169232-06-001886.txt : 20060410 0001169232-06-001886.hdr.sgml : 20060410 20060410160306 ACCESSION NUMBER: 0001169232-06-001886 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060410 DATE AS OF CHANGE: 20060410 GROUP MEMBERS: THE D3 CHILDREN'S FUND, L.P. GROUP MEMBERS: THE D3 FAMILY BULLDOG FUND, L.P. GROUP MEMBERS: THE D3 FAMILY FUND, L.P. GROUP MEMBERS: THE D3 FAMILY RETIREMENT FUND, L.P. GROUP MEMBERS: THE D3 OFFSHORE FUND, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KOREA EQUITY FUND INC CENTRAL INDEX KEY: 0000912023 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-58207 FILM NUMBER: 06750946 BUSINESS ADDRESS: STREET 1: 2 WORLD FINANCIAL CENTER STREET 2: BUILDING B, 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10038-4936 BUSINESS PHONE: 8008330018 MAIL ADDRESS: STREET 1: 2 WORLD FINANCIAL CENTER STREET 2: BUILDING B, 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10038-4936 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NIERENBERG INVESTMENT MANAGEMENT CO CENTRAL INDEX KEY: 0001282683 IRS NUMBER: 911677205 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 19605 NE 8TH ST CITY: CAMAS STATE: WA ZIP: 98607 SC 13D/A 1 d67666_sc13da.txt AMENDMENT TO SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Act of 1934 (Amendment No. 5) Korea Equity Fund, Inc. (KEF) (Name of Issuer) Common Stock (Title of Class of Securities) 50063B104 (CUSIP Number) David Nierenberg The D3 Family Funds 19605 NE 8th Street Camas, WA 98607 360-604-8600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 22, 2006 (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: |_| - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Fund, L.P. (David Nierenberg is president of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 18,630 common shares (0.2%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 18,630 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,200 Shares (2.4%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 2 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Retirement Fund, L.P. (David Nierenberg is president of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 70,600 common shares (0.8%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 70,600 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,200 Shares (2.4%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 3 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Children's Fund, L.P. (David Nierenberg is president of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 10,950 common shares (0.1%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 10,950 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,200 Shares (2.4%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Offshore Fund, L.P. (David Nierenberg is president of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (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 Bahamas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 40,420 common shares (0.5%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 40,420 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,200 shares (2.4%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 5 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Bulldog Fund, L.P. (David Nierenberg is president of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 64,600 common shares (0.8%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 64,600 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,200 shares (2.4%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 6 Item 1. Security and Issuer. Common Stock of Korea Equity Fund, Inc. a Maryland corporation (the "Issuer"), which has its principal office at 180 Maiden Lane, New York, NY 10038. Item 2. Identity and Background. The D3 Family Funds are Washington State limited partnerships, whose principal business is investing in the equities of public micro-cap issuers. The D3 Family Funds consist of: D3 Family Fund, L.P, D3 Family Retirement Fund, L.P, D3 Children's Fund, L.P, D3 Offshore Fund, L.P., D3 Family Bulldog Fund, L.P. Located at 19605 N.E. 8th St., Camas, Washington 98607. No convictions or administrative proceedings as described in 2 (d) and (e). Item 3. Source and Amount of Funds or Other Consideration Source of funds is money invested in the partnership by their partners. Item 4. Purpose of Transaction Item 5. Interest in Securities of the Issuer. (a,b) The D3 Family Funds own and have sole voting power over 205,200 2.4% common shares of KEF. (c) N/A
Transaction Fund Date Transaction Shares Price D3 Family Fund, L.P. 3/6/2006 Sold -4,400 11.09 D3 Family Fund, L.P. 3/7/2006 Sold -2,800 10.83 D3 Family Fund, L.P. 3/10/2006 Sold -5,000 10.66 D3 Family Fund, L.P. 3/13/2006 Sold -5,000 10.85 D3 Family Fund, L.P. 3/14/2006 Sold -2,000 10.83 D3 Family Fund, L.P. 3/15/2006 Sold -3,400 10.91 D3 Family Fund, L.P. 3/16/2006 Sold -6,000 10.94 D3 Family Fund, L.P. 3/20/2006 Sold -6,500 11.05 D3 Family Fund, L.P. 3/21/2006 Sold -7,000 11.07 D3 Family Fund, L.P. 3/27/2006 Sold -19,000 11.01 D3 Family Fund, L.P. 3/28/2006 Sold -7,000 10.97
7 D3 Family Fund, L.P. 3/29/2006 Sold -6,000 10.92 D3 Family Fund, L.P. 3/30/2006 Sold -15,000 10.96 D3 Family Fund, L.P. 3/31/2006 Sold -15,000 11.14 D3 Family Fund, L.P. 4/3/2006 Sold -35,000 11.18 D3 Family Fund, L.P. 4/4/2006 Sold -25,000 11.24 D3 Family Fund, L.P. 4/5/2006 Sold -20,000 11.32 D3 Family Fund, L.P. 4/6/2006 Sold -22,000 11.24 D3 Family Fund, L.P. 4/7/2006 Sold -27,300 11.36 D3 Family Retirement Fund, L.P. 3/6/2006 Sold -1,600 11.09 D3 Family Retirement Fund, L.P. 3/7/2006 Sold -1,000 10.83 D3 Family Retirement Fund, L.P. 3/10/2006 Sold -1,500 10.66 D3 Family Retirement Fund, L.P. 3/13/2006 Sold -2,000 10.85 D3 Family Retirement Fund, L.P. 3/15/2006 Sold -1,000 10.91 D3 Family Retirement Fund, L.P. 3/16/2006 Sold -2,000 10.94 D3 Family Retirement Fund, L.P. 3/20/2006 Sold -2,100 11.05 D3 Family Retirement Fund, L.P. 3/21/2006 Sold -2,300 11.07 D3 Family Retirement Fund, L.P. 3/22/2006 Sold -5,000 10.93 D3 Family Retirement Fund, L.P. 3/27/2006 Sold -7,000 11.01 D3 Family Retirement Fund, L.P. 4/4/2006 Sold -6,000 11.24 D3 Children's Fund, L.P. 3/6/2006 Sold -500 11.09 D3 Children's Fund, L.P. 3/7/2006 Sold -400 10.83 D3 Children's Fund, L.P. 3/10/2006 Sold -500 10.66 D3 Children's Fund, L.P. 3/13/2006 Sold -500 10.85 D3 Children's Fund, L.P. 3/15/2006 Sold -500 10.91 D3 Children's Fund, L.P. 3/16/2006 Sold -500 10.94 D3 Children's Fund, L.P. 3/20/2006 Sold -600 11.05 D3 Children's Fund, L.P. 3/21/2006 Sold -600 11.07 D3 Children's Fund, L.P. 3/27/2006 Sold -1,600 11.01 D3 Children's Fund, L.P. 3/30/2006 Sold -5,000 10.96 D3 Children's Fund, L.P. 4/4/2006 Sold -2,000 11.24 D3 Children's Fund, L.P. 4/5/2006 Sold -1,600 11.32 D3 Offshore Fund, L.P. 3/6/2006 Sold -2,300 11.09 D3 Offshore Fund, L.P. 3/7/2006 Sold -1,500 10.83 D3 Offshore Fund, L.P. 3/10/2006 Sold -2,500 10.66 D3 Offshore Fund, L.P. 3/13/2006 Sold -2,500 10.85 D3 Offshore Fund, L.P. 3/14/2006 Sold -1,500 10.83 D3 Offshore Fund, L.P. 3/15/2006 Sold -2,000 10.91 D3 Offshore Fund, L.P. 3/16/2006 Sold -3,100 10.94 D3 Offshore Fund, L.P. 3/20/2006 Sold -3,200 11.05 D3 Offshore Fund, L.P. 3/21/2006 Sold -3,500 11.07 D3 Offshore Fund, L.P. 3/22/2006 Sold -13,600 10.93 D3 Offshore Fund, L.P. 3/23/2006 Sold -22,900 10.91 D3 Offshore Fund, L.P. 3/24/2006 Sold -24,600 10.93 D3 Offshore Fund, L.P. 3/27/2006 Sold -10,000 11.01 D3 Offshore Fund, L.P. 3/28/2006 Sold -8,000 10.97 D3 Offshore Fund, L.P. 3/29/2006 Sold -13,300 10.92 D3 Offshore Fund, L.P. 3/30/2006 Sold -10,800 10.96 D3 Offshore Fund, L.P. 3/31/2006 Sold -15,500 11.14 D3 Offshore Fund, L.P. 4/3/2006 Sold -15,000 11.18 D3 Offshore Fund, L.P. 4/4/2006 Sold -12,000 11.24
8 D3 Offshore Fund, L.P. 4/5/2006 Sold -10,000 11.32 D3 Family Bulldog Fund, L.P. 2/13/2006 Bought 10,000 9.89 D3 Family Bulldog Fund, L.P. 2/15/2006 Bought 10,000 9.93 D3 Family Bulldog Fund, L.P. 3/6/2006 Sold -1,300 11.09 D3 Family Bulldog Fund, L.P. 3/7/2006 Sold -800 10.83 D3 Family Bulldog Fund, L.P. 3/10/2006 Sold -1,500 10.66 D3 Family Bulldog Fund, L.P. 3/13/2006 Sold -1,400 10.85 D3 Family Bulldog Fund, L.P. 3/15/2006 Sold -1,000 10.91 D3 Family Bulldog Fund, L.P. 3/16/2006 Sold -1,700 10.94 D3 Family Bulldog Fund, L.P. 3/20/2006 Sold -2,000 11.05 D3 Family Bulldog Fund, L.P. 3/21/2006 Sold -2,000 11.07 D3 Family Bulldog Fund, L.P. 3/27/2006 Sold -6,000 11.01
(d) N/A (e) 3/22/2006 Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. N/A Item 7. Material to be Filed as Exhibits N/A SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in the Statement is true, complete and correct. April 10, 2006 /s/ DAVID NIERENBERG - ----------------- ------------------------------------- President Nierenberg Investment Management Company, Inc., the General Partner of The D3 Family Funds 9 -----END PRIVACY-ENHANCED MESSAGE-----