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Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 2
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
The Profit Recovery Group International, Inc.
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(Name of Issuer)
Common Stock, no par value per share
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(Title of Class of Securities)
743 168 106
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(CUSIP Number)
Nathan Kirsh
Natex Village
Ezulwini
Swaziland
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 1, 1999
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(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. [ ]
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CUSIP No.: 743 168 106 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. ID NO. OF ABOVE PERSON
Ki Corporation Ltd
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Liberia
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SOLE VOTING POWER
2,210,191
NUMBER OF ---------------------------------------------------
SHARES SHARED VOTING POWER 0
BENEFICIALLY
OWNED ---------------------------------------------------
BY EACH SOLE DISPOSITIVE POWER
REPORTING 2,210,191
PERSON
WITH ---------------------------------------------------
SHARED DISPOSITIVE POWER 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 2,210,191
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
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14 TYPE OF REPORTING PERSON OO
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CUSIP No.: 743 168 106 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. ID NO. OF ABOVE PERSON
Eurona Foundation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Liechtenstein
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SOLE VOTING POWER
48,600
NUMBER OF ---------------------------------------------------
SHARES SHARED VOTING POWER 0
BENEFICIALLY
OWNED ---------------------------------------------------
BY EACH SOLE DISPOSITIVE POWER
REPORTING 48,600
PERSON
WITH ---------------------------------------------------
SHARED DISPOSITIVE POWER 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 48,600
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
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14 TYPE OF REPORTING PERSON OO
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This Amendment No. 2 amends and supplements Item 5 of the Schedule 13D
filed with the United States Securities and Exchange Commission on August 19,
1999 by Ki Corporation Ltd and Eurona Foundation, as amended by Amendment 1. The
purpose of this amendment is to report the sale of 488,000 shares of Common
Stock of The Profit Recovery Group International, Inc. by Ki Corporation Ltd.
Capitalized terms used but not defined herein have the meanings ascribed to them
in Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Company's definitive proxy statement, filed with the Securities
and Exchange Commission on August 27, 1999, relating to the Special Meeting of
Stockholders of the Company to be held on September 30, 1999, states that, as of
August 2, 1999, there were 41,320,247 shares of Common Stock outstanding. On
August 19, 1999, the Company issued 6,114,375 shares of Common Stock in
connection with the acquisition of the issued share capital and other equity
interests of Meridian. On August 31, 1999, in connection with the acquisition of
substantially all of the assets of PRS International, Ltd. ("PRS"), the Company
issued 1,113,043 unregistered shares of the Company's Common Stock to the former
owners of PRS. The shares of Common Stock referred to in the preceding three
sentences of this paragraph (a) were issued pursuant to the exemption from
registration provided by Section 4(2) of the Securities Act of 1933, as amended.
The percentages set forth in this Item 5(a) were derived using the sum of such
numbers.
As of November 16, 1999, Ki Corporation Ltd is the beneficial owner of
2,210,190 shares of Common Stock, which constitute approximately 4.6% of the
outstanding shares of Common Stock, and Eurona Foundation is the beneficial
owner of 48,600 shares of Common Stock, which constitute approximately 0.1% of
the outstanding shares of Common Stock. No shares of Common Stock are
beneficially owned by any of the persons listed on Annex A.
(b) Each of Ki Corporation Ltd and Eurona Foundation has sole power to
vote and to dispose of the shares of Common Stock owned by it.
(c) In a series of sales transactions between October 26, 1999 and
November 12, 1999 listed below, Ki Corporation Ltd sold 488,000 shares of Common
Stock of the Company at an average price of $40.07 per share. As of November 1,
1999, Ki Corporation Ltd had sold a total of 325,000 shares, which reduced the
percentage of the Common Stock of the Company owned by Ki Corporation below 5%.
As of November 12, 1999, Ki Corporation had sold a total of 488,000 shares,
which constituted a disposition of more than 1% of the class of securities.
These sales were arranged through BancBoston Robertson Stephens with RBC
Dominion Securities (Royal Bank of Canada) being the purchaser.
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Date Number of Shares Sold Price Per Share
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10/26/99 40,000 $40.0641
10/26/99 10,000 40.1242
10/28/99 5,000 38.0188
10/28/99 5,000 39.2219
10/28/99 5,000 38.8008
10/29/99 20,000 38.5000
10/29/99 30,000 38.6203
10/29/99 40,000 38.8609
10/29/99 20,000 38.9813
10/29/99 10,000 39.1016
10/29/99 20,000 39.1617
10/29/99 10,000 39.2820
10/29/99 10,000 39.4625
10/29/99 15,000 39.6430
10/29/99 15,000 39.8836
10/29/99 5,000 39.9438
11/01/99 15,000 40.2445
11/01/99 15,000 40.3047
11/01/99 10,000 40.3648
11/01/99 10,000 40.4852
11/01/99 10,000 40.6055
11/01/99 5,000 40.7258
11/03/99 20,000 40.4250
11/03/99 5,000 40.6656
11/03/99 5,000 40.7258
11/03/99 10,000 40.8461
11/03/99 10,000 41.0266
11/03/99 10,000 41.3875
11/03/99 5,000 41.5078
11/03/99 35,000 41.6281
11/03/99 10,000 41.7484
11/04/99 15,000 41.8688
11/04/99 5,000 41.9289
11/05/99 20,000 41.8688
11/05/99 5,000 42.1094
11/12/99 8,000 38.9211
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488,000 $40.0700
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(d) Of the 2,210,190 shares of Common Stock beneficially owned by Ki
Corporation Ltd and the 48,600 shares of Common Stock beneficially owned by
Eurona Foundation, 269,819 shares and 4,859 shares, respectively (the "Escrow
Shares"), are subject to the Indemnity Escrow and Stock Pledge Agreement, dated
19 August 1999, among the Company, the Vendors, Mr. Nathan Kirsh (as the
Vendors' representative) and First Union National Bank, as escrow agent (the
"Escrow Agreement"). The Escrow Agreement provides that the Escrow Shares shall
form part of the escrow account held by the escrow agent to satisfy potential
warranty and indemnity claims under the Sale and Purchase Agreement in respect
of which a determination is made during the period August 19, 1999 through
August 19, 2000. During such period, any dividends paid on the Escrow Shares and
any proceeds of sale from the Escrow Shares shall be deposited into the escrow
account and shall be held by the escrow agent subject to the provisions of the
Escrow Agreement.
(e) Not applicable.
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Date: December 7, 1999 KI CORPORATION LTD
By: /s/ Myra A. Salkinder
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Name: MYRA A. SALKINDER
Title: Director
EURONA FOUNDATION
By: /s/ Nathan Kirsh
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Name: NATHAN KIRSH
Title: Foundation Council Member
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