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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
(Amendment No. 1)
Tender Offer Statement Pursuant to Section
14(d)(1) of the Securities Exchange Act of 1934
WIZTEC SOLUTIONS LTD.
(Name of Subject Company)
CONVERGYS ISRAEL INVESTMENTS LTD.
CONVERGYS CORPORATION
(Bidders)
Ordinary Shares, New Israeli Shekel 1 Par Value
M98105-105
(CUSIP Number of Class of Securities)
William D. Baskett III
Convergys Corporation
General Counsel and Secretary
201 East Fourth Street
Cincinnati, Ohio 45202
(513) 723-2444
(Name, address and telephone number of person authorized to receive notice
and communications on behalf of Bidder)
COPY TO:
Neil Ganulin
Frost & Jacobs LLP
2500 PNC Center
Cincinnati, Ohio 45202
(513) 651-6800
CALCULATION OF FILING FEE
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Transaction Valuation* Amount of Filing Fee
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$73,589,850(1)................................................ $14,717.97(2)
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1. For purposes of calculating the filing fee only. Pursuant to, and as
provided by, Rule 0-11(d), this amount is calculated by multiplying
$25.00, the per share cash tender offer price, by 2,943,594 Ordinary
Shares, New Israeli Shekel 1 par value, which represents all Ordinary
Shares outstanding as of June 29, 1999 not owned directly or
indirectly by the persons filing this statement and assumes the
exercise of all warrants and options to purchase Ordinary Shares which
were outstanding as of June 29, 1999.
2. The amount of the filing fee, calculated in accordance with Rule
0-11(d) of the Securities Exchange Act of 1934, as amended, equals
1/50th of one percent of the aggregate cash value for such number of
shares.
[X] Check box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
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Amount Previously Paid: $14,717.97
Form or Registration No.: Schedule 14D-1
Filing Party: Convergys Corporation and
Convergys Israel Investments Ltd.
Date Filed: July 2, 1999
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SCHEDULE 14D-1
<TABLE>
<CAPTION>
CUSIP No. M98105-105
<S> <C>
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1. Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons
Convergys Corporation
I.R.S. ID No. 31-1598292
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2. Check the Appropriate Box if a Member of a Group
(A) [X]
(B) [ ]
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3. SEC Use Only
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4. Source of Funds
BK
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(e) or 2(f) [ ]
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6. Citizenship or Place of Organization
Ohio
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7. Aggregate Amount Beneficially Owned By Each Reporting Person
5,020,721
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8. Check Box if the Aggregate Amount in Row (7) Excludes Certain Shares [___]
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9. Percent of Class Represented by Amount in Row (7)
68.7%
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10. Type of Reporting Person
HC
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</TABLE>
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SCHEDULE 14D-1
<TABLE>
<CAPTION>
CUSIP No. M98105-105
<S> <C>
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1. Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons
Convergys Israel Investments Ltd.
I.R.S. ID No. Not applicable
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2. Check the Appropriate Box if a Member of a Group
(A) [X]
(B) [ ]
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3. SEC Use Only
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4. Source of Funds
AF
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(e) or 2(f) [ ]
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6. Citizenship or Place of Organization
State of Israel
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7. Aggregate Amount Beneficially Owned By Each Reporting Person
5,020,721
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8. Check Box if the Aggregate Amount in Row (7) Excludes Certain Shares [___]
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9. Percent of Class Represented by Amount in Row (7)
68.7%
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10. Type of Reporting Person
CO
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</TABLE>
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INTRODUCTION
Convergys Corporation, an Ohio corporation ("Parent"), and Convergys
Israel Investments Ltd., a company limited by shares duly registered under the
laws of the State of Israel and a wholly owned subsidiary of Parent ("Sub"),
hereby amend and supplement their Tender Offer Statement on Schedule 14D-1
originally filed on July 2, 1999 (the "Schedule 14D-1"), with respect to the
offer to purchase all of the outstanding Ordinary Shares, New Israeli Shekel 1
Par Value (the "Shares"), of Wiztec Solutions Ltd., a company limited by shares
duly registered under the laws of the State of Israel (the "Company"), not
already owned by Sub.
ITEM 10. ADDITIONAL INFORMATION
Item 10 (e) of the Schedule 14D-1 is amended and supplemented by adding the
following:
With regard to In re Wiztec Solutions Litigation (the "prior
litigation"), Plaintiff Sachs filed a memorandum in opposition to the motion of
Parent and board members amenable to service of process in Ohio ("director
defendants") to dismiss on July 1, 1999. Parent and director defendants filed a
reply memorandum in support of their motion. The case is set for report on
August 4, 1999.
On July 2, 1999, the commencement date of the Offer, a lawsuit was
commenced by shareholders who are unaffiliated with the defendants (the
"unaffiliated shareholders") in the Court of Common Pleas, Hamilton County,
Ohio: Carrazza, et al., vs. Wiztec Solutions, Ltd., et al., Case No. A9903819.
The action purports to be a class action brought on behalf of unaffiliated
shareholders and asserts claims against the Company, Parent, Sub and members of
the Company's Board of Directors. The action alleges that, through the conduct
of the defendants, Parent has proposed to acquire the Shares at an unfair and
inadequate price, in violation of fiduciary duties allegedly owed by the
defendants to the unaffiliated shareholders, and that there was inadequate
disclosure in the April Tender Offer. The complaint purports by its terms to
seek injunctive relief requiring defendants to make full and fair disclosure of
all material facts, preventing consummation of the Offer, or rescission if it is
successfully consummated, compensatory damages, and attorneys' fees and
expenses. No motion for injunctive relief has been filed. The time within which
the defendants who have been served have to respond to the complaints has not
expired. The Company and its Israeli directors believe they have a basis to
challenge the exercise of personal jurisdiction by, and venue in, a United
States court. Parent believes the action to be without merit and intends to
contest the action vigorously. It is the present intention of Parent and Sub not
to extend the Expiration Date or raise the Offer Price as a result of the
pending litigation.
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SIGNATURE
After due 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.
Date: July 15, 1999 Convergys Israel Investments Ltd.
By /s/ William D. Baskett III
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William D. Baskett III
Vice President
Convergys Corporation
By /s/ William D. Baskett III
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William D. Baskett III
General Counsel and Secretary
