-----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, B9BBGrBdqMOggOUIi/FlyD4IRAGPTZQp+VIfDp+67AMRIrUvRe9npKTlmDTTngeq GNiLrzv/d8P2ax1bXLmqaw== 0000898822-05-000362.txt : 20050429 0000898822-05-000362.hdr.sgml : 20050429 20050429170916 ACCESSION NUMBER: 0000898822-05-000362 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050429 DATE AS OF CHANGE: 20050429 GROUP MEMBERS: O.S.S. ADVISORS LLC GROUP MEMBERS: O.S.S. OVERSEAS FUND LTD GROUP MEMBERS: OSCAR S. SCHAFER GROUP MEMBERS: OSCAR S. SCHAFER & PARTNERS I LP GROUP MEMBERS: OSCAR S. SCHAFER & PARTNERS II LP GROUP MEMBERS: SCHAFER BROTHERS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FLAMEL TECHNOLOGIES SA CENTRAL INDEX KEY: 0001012477 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50223 FILM NUMBER: 05787122 BUSINESS ADDRESS: STREET 1: PARC CLUB DU MOULIN A VENT STREET 2: 33 AVE DU DOCTEUR GEORGES LEVY CITY: VENISSIEUX CED STATE: I0 ZIP: 69693 BUSINESS PHONE: 2126641666 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: OSS CAPITAL MANAGEMENT CENTRAL INDEX KEY: 0001218321 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 605 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10158 SC 13D/A 1 apr29_13d.txt SCHEDULE 13D/A -- AMENDMENT NO. 1 ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* ---------- FLAMEL TECHNOLOGIES S.A. (Name of Issuer) ORDINARY SHARES, NOMINAL VALUE (EURO)0.122 PER SHARE (Title of Class of Securities) ISIN No. FR0004018711 (CUSIP Number)(1) ---------- OSCAR S. SCHAFER O.S.S. CAPITAL MANAGEMENT LP 598 MADISON AVENUE NEW YORK, NY 10022 (212) 756-8700 (Name, Address and Telephone Number of Person Authorized to Receive Notices of Communication) ---------- APRIL 29, 2005 (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] - -------- (1) The Ordinary Shares have no CUSIP number. The ISIN number for the Ordinary Shares is FR0004018711. The CUSIP number for the ADSs is 338488109. ================================================================================ - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 2 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS O.S.S. Capital Management LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------- ----------------------------------------------------------------------- 3 SEC USE ONLY - -------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 2,065,947 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 2,065,947 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,065,947 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 3 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Oscar S. Schafer & Partners I LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 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 ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 100,190 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 100,190 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 100,190 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.5% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 4 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Oscar S. Schafer & Partners II LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 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 ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 963,387 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 963,387 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 963,387 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.5% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 5 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS O.S.S. Overseas Fund Ltd I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 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 ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 1,002,370 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 1,002,370 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,002,370 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.7% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 6 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS O.S.S. Advisors LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------- ----------------------------------------------------------------------- 3 SEC USE ONLY - -------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 1,063,577 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 1,063,577 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,063,577 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.0% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 7 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Schafer Brothers LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------- ----------------------------------------------------------------------- 3 SEC USE ONLY - -------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 2,065,947 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 2,065,947 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,065,947 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------- -------------------------- CUSIP No. 338488109 13D (PAGE 8 OF 13 PAGES) ISIN No. FR0004018711 - -------------------------- -------------------------- - -------- ----------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Oscar S. Schafer I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS - -------- ----------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------- ----------------------------------------------------------------------- 3 SEC USE ONLY - -------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------- ----------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ------------------------------------------------ BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 2,065,947 ------ ------------------------------------------------ EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------ ------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER 2,065,947 - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,065,947 - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! EXPLANATORY NOTE This Amendment No. 1 to Schedule 13D ("Amendment No. 1") is being filed on behalf of Oscar S. Schafer & Partners I LP, a Delaware limited partnership ("OSS I LP"), Oscar S. Schafer & Partners II LP, a Delaware limited partnership ("OSS II LP" and together with OSS I LP, the "Limited Partnerships"), O.S.S. Advisors LLC, a Delaware limited liability company (the "General Partner"), O.S.S. Overseas Fund Ltd., a Cayman Islands exempted company ("OSS Overseas"), O.S.S. Capital Management LP, a Delaware limited partnership, (the "Investment Manager"), Schafer Brothers LLC, a Delaware limited liability company ("SB LLC"), and Mr. Oscar S. Schafer ("Mr. Schafer", and together with the Limited Partnerships, the General Partner, OSS Overseas, the Investment Manager and SB LLC, the "Reporting Persons"), who serves as the senior managing member of the General Partner and SB LLC. This Amendment No. 1 relates to the ordinary shares, nominal value (euro)0.122 per share ("Ordinary Shares"), of Flamel Technologies S.A., a SOCIETE ANONYME organized under the laws of the Republic of France (the "Issuer"), and amends the Schedule 13D filed with the United States Securities and Exchange Commission on April 18, 2005 (the "Original Schedule 13D"). Capitalized terms used in this Amendment No.1 but not otherwise defined herein shall have the meanings ascribed to them in the Original Schedule 13D. Except as amended hereby the Original Schedule 13D remains in effect. ITEM 1. SECURITY AND ISSUER Item 1 of the Original Schedule 13D is amended by deleting the final paragraph thereof and substituting the following paragraph: As set forth more fully in Item 4, pursuant to and in accordance with the Deposit Agreement ("Deposit Agreement"), dated as of June 6, 1996, as amended and restated as of August 10, 2001, among the Issuer, the Bank of New York, as depositary (the "Depositary"), and the holders of the ADSs issued thereunder, the Limited Partnerships and OSS Overseas have surrendered their ADSs to the Depositary, and withdrawn the corresponding number of underlying Ordinary Shares. As of April 29, 2005, the underlying Ordinary Shares have been transferred to accounts registered in the names of the Limited Partnerships and OSS Overseas in the share registry of the Issuer. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Item 3 of the Original Schedule 13D is amended and supplemented by adding at the end thereof the following text: The Depositary charged a fee of $5.00 per 100 ADSs (or portion thereof) in connection with the surrender of the ADSs and the withdrawal of the underlying Ordinary Shares. The total amount of funds used by each of the Partnerships and OSS Overseas to pay such fees of the Depositary was furnished from the investment capital of the Limited Partnerships and OSS Overseas, as applicable. The aggregate fees paid to the Depositary in respect of the withdrawal of the 100,190 Ordinary Shares owned by OSS I were $5,010. - 9 - The aggregate fees paid to the Depositary in respect of the withdrawal of the 963,387 Ordinary Shares owned by OSS II were $48,170. The aggregate fees paid to the Depositary in respect of the withdrawal of the 1,002,370 Ordinary Shares owned by OSS Overseas were $50,120. ITEM 4. PURPOSE OF TRANSACTION Item 4 of the Original Schedule 13D is amended and supplemented by adding between the third and the fourth paragraph thereof, the following text: The Reporting Persons have taken all actions necessary to cause OSS I LP, OSS II LP and OSS Overseas to become, as of April 29, 2005, the registered holders of the 100,190, 963,387, and 1,002,370 Ordinary Shares that they previously beneficially owned in the form of ADSs. The Ordinary Shares are held in pure registered form (TITRES NOMINATIFS PURS) in accounts registered in the names of OSS I LP, OSS II LP and OSS Overseas, respectively, in the share registry of the Issuer. Accordingly, as holders in concert of more than 5% of the Ordinary Shares, pursuant to Article L. 225-105 of the French Commercial Code (CODE DE COMMERCE), OSS I LP, OSS II LP and OSS Overseas have the right to require the Issuer to include draft resolutions (including, without limitation, resolutions relating to the removal and election of directors) on the agenda for the 2005 AGM and to include the text of the draft resolutions in the materials sent by the Issuer to shareholders in connection with the 2005 AGM. On April 29, 2005, pursuant to and in accordance with Article L. 233-7 of the French Commercial Code (CODE DE COMMERCE), the Reporting Persons caused a notice (the "Notice") to be sent to the Issuer disclosing that in concert (within the meaning of Article L. 233-10 of the French Commercial Code (CODE DE COMMERCE)) the Reporting Persons held more than 5% of the outstanding share capital and voting rights of the Issuer. The Notice also requested, pursuant to Art. 129 of Decret No. 67-238 dated as of March 23, 1967, that the Issuer inform the Limited Partners and OSS Overseas of the address to which they should deliver certificates (ATTESTATIONS D'INSCRIPTION EN COMPTE) attesting the number of Ordinary Shares that they hold, in the event that they wish to exercise their right as holders of more than 5% of the Ordinary Shares to require the Issuer to include a draft resolution on the agenda of the 2005 AGM. The Notice also requested that the Issuer inform the Reporting Persons of the expected date of the 2005 AGM. A copy of the Notice is filed as Exhibit 2 to this Amendment No. 1 and is incorporated herein by reference. ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER (c) Paragraph (c) of Item 5 is amended and supplemented by adding at the end thereof the following paragraph: On April 29, 2005, in connection with the surrender of the ADSs and the withdrawal of the underlying Ordinary Shares, the Bank of New York caused 100,190, 963,387, and 1,002,370 Ordinary Shares to be transferred to accounts registered in the names of OSS I LP, OSS II LP and OSS Overseas, respectively, in the share registry of the Issuer. This transaction did not involve any change in the number of Ordinary Shares beneficially owned by the Reporting Persons. - 10 - ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO THE SECURITIES OF THE ISSUER Item 6 of the Original Schedule 13D is amended and supplemented by inserting at the end thereof the following paragraph: Having surrendered all their ADSs and withdrawn the corresponding number of Ordinary Shares, none of the Reporting Persons remains a party to the Deposit Agreement. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Item 7 of the Original Schedule 13D is amended and restated in its entirety to read as follows: The following are filed as exhibits to this statement on Schedule 13D: Exhibit 1 Joint Filing Agreement (previously filed with the Original Schedule 13D on April 18, 2008). Exhibit 2 Notice of Ownership of More than 5% of Share Capital and Voting Rights Delivered to the Issuer pursuant to Article 233-7 of the French Commercial Code (CODE DE COMMERCE). - 11 - 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: April 29, 2005 /s/ Oscar S. Schafer ------------------------------ Oscar S. Schafer, individually O.S.S. CAPITAL MANAGEMENT LP By: Schafer Brothers LLC as General Partner By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Senior Managing Member OSCAR S. SCHAFER & PARTNERS I LLP By: O.S.S. Advisors LLC as General Partner By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Senior Managing Member OSCAR S. SCHAFER & PARTNERS II LLP By: O.S.S. Advisors LLC as General Partner By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Senior Managing Member - 12 - O.S.S. OVERSEAS FUND LTD By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Director O.S.S. ADVISORS LLC By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Senior Managing Member SCHAFER BROTHERS LLC By: /s/ Oscar S. Schafer ------------------------------ Name: Oscar S. Schafer Title: Senior Managing Member - 13 - EX-99.2 2 apr29_ex2.txt EXHIBIT 2 EXHIBIT 2 [LETTERHEAD OF O.S.S. CAPITAL MANAGEMENT LP] April 29, 2005 BY FACSIMILE AND FEDERAL EXPRESS Gerard Soula President Directeur General Flamel Technologies S.A. Parc Club du Moulin a Vent 33 avenue du Dr. Georges Levy 69693 Venissieux cedex France Re: Notice of Ownership of More than 5% of Share Capital and Voting Rights of Flamel Technologies S.A. pursuant to Article L. 233-7 of the CODE DE COMMERCE. Monsieur le President: This letter is to advise you that pursuant to and in accordance with Section 2.5 of the Deposit Agreement, dated as of June 6, 1996, as amended and restated as of August 10, 2001, by and among Flamel Technologies S.A., a SOCIETE ANONYME incorporated under the laws of the Republic of France ("Flamel"), the Bank of New York, a New York banking corporation, as depositary (the "Depositary"), and the owners and holders of American Depositary Receipts ("Flamel ADSs") issued thereunder, Oscar S. Schafer & Partners I LP, a Delaware limited partnership, Oscar S. Schafer & Partners II LP, a Delaware limited partnership, and O.S.S. Overseas Fund Ltd., a Cayman Islands exempted company, which entities may be deemed to be acting in concert (DE CONCERT) within the meaning of Art. L. 233-10 of the French Commercial Code (CODE DE COMMERCE), have surrendered their Flamel ADSs to the Depositary and withdrawn the underlying ordinary shares of Flamel ("Ordinary Shares"). As a result, as of April 29, 2005, Oscar S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, and O.S.S. Overseas Fund Ltd. hold in pure registered form (TITRES NOMINATIFS PURS), DE CONCERT, an aggregate of 2,065,947 Ordinary Shares, representing 9.66 % of the share capital and voting rights of Flamel, based on the number of shares outstanding disclosed in the Annual Report on Form 20-F for the year ended December 31, 2003, as filed with the United States Securities and Exchange Commission. The Ordinary Shares are held in registered accounts in the names of the foregoing entities as follows: - ---------------------------------- -------------------- ---------------------- PERCENTAGE OF FLAMEL NUMBER OF ORDINARY SHARE CAPITAL AND REGISTERED HOLDER SHARES VOTING RIGHTS - ---------------------------------- -------------------- ---------------------- Oscar S. Schafer & Partners I LP 100,190 0.47% - ---------------------------------- -------------------- ---------------------- Oscar S. Schafer & Partners II LP 963,387 4.50% - ---------------------------------- -------------------- ---------------------- O.S.S. Overseas Fund Ltd. 1,002,370 4.69% - ---------------------------------- -------------------- ---------------------- TOTAL 2,065,947 9.66% - ---------------------------------- -------------------- ---------------------- Accordingly, as of April 29, 2005, Oscar S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, and O.S.S. Overseas Fund Ltd. hold, DE CONCERT, more than 5% of the outstanding share capital and voting rights of Flamel. This notice of ownership of share capital and voting rights is, therefore, being delivered to Flamel in accordance with the provisions of Article L.233-7 of the French Commercial Code (CODE DE COMMERCE). In addition, O.S.S. Advisors LLC, a Delaware limited liability company, O.S.S. Capital Management LP, a Delaware limited partnership, and Schafer Brothers LLC, a Delaware limited liability company, none of which hold any Ordinary Shares registered in their own names, may also be deemed to be acting DE CONCERT with Oscar S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, and O.S.S. Overseas Fund Ltd. because these entities are under common control and may have shared power to direct the disposition or the voting of the Ordinary Shares set forth above that are held by and registered in the names of Oscar S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, and O.S.S. Overseas Fund Ltd. By this notice, pursuant to and in accordance with Art. 129 of DECRET No. 67-238, DATED AS OF MARCH 23, 1967, Flamel is requested on behalf of Oscar S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, and O.S.S. Overseas Fund Ltd., to advise them of (i) the place where they should deliver certificates (ATTESTATIONS D'INSCRIPTION EN COMPTE) attesting that the 2,065,947 Ordinary Shares set forth above are held in registered accounts in their respective names, and (ii) the proposed date of the forthcoming annual general meeting of the shareholders of Flamel. The foregoing information should be sent as soon as possible by e-mail to the following address: oschafer@osscapital.com. Pursuant to Art. 120-1 of DECRET No. 67-238, DATED AS OF MARCH 23, 1967, this notice constitutes the express written agreement of the undersigned parties to be notified by e-mail at the foregoing e-mail address. In addition, Flamel is requested to confirm the foregoing information in writing by registered mail (PAR LETTRE RECOMMANDE AVEC DEMAND D'AVIS DE RECEPTION). Sincerely, /s/ Oscar S. Schafer -------------------------------------- Oscar S. Schafer, individually and (a) as Director, for O.S.S. Overseas Fund Ltd.; and (b) as Senior Managing Member of: (1) O.S.S. Advisors LLC, for itself and as the general partner of (A) Oscar S. Schafer & Partners I LP; and (B) Oscar S. Schafer & Partners II LP; and (2) Schafer Brothers LLC, for itself and as the general partner of O.S.S. Capital Management LP -----END PRIVACY-ENHANCED MESSAGE-----