SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 11)
AMPAL - AMERICAN ISRAEL CORPORATION
--------------------------
(Name of Issuer)
Class A Stock, par value $1.00 per share
--------------------------
(Title of Class and Securities)
032015 10 9
--------------------------
(CUSIP Number of Class of Securities)
Kenneth L. Henderson, Esq.
Robinson Silverman Pearce Aronsohn & Berman LLP
1290 Avenue of the Americas
New York, New York 10104
(212) 541-2000
--------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
N/A
--------------------------
(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 Statement because of Rule
13d-1(b)(3) or (4), check the following: [ ]
Check the following box if a fee is being paid with this Statement: [ ]
<PAGE>
SCHEDULE 13D
CUSIP No. 032015-10-9
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
REBAR FINANCIAL CORP.
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
BRITISH VIRGIN ISLANDS
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
11,115,112
NUMBER OF --------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
11,115,112
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,115,112
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
60.81%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ----------------------------------------------------------------------------
This statement constitutes Amendment No. 11 to the Statement on
Schedule 13D (the "Schedule 13D") filed with the Securities and Exchange
Commission by Rebar Financial Corp. ("Rebar") in connection with its
beneficial ownership of shares of Class A Stock ("Class A Stock") of Ampal-
American Israel Corporation, a New York corporation (the "Issuer"). Unless
otherwise defined herein, capitalized terms used herein shall have the
meanings set forth in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby amended and supplemented by adding the following:
(b) Rebar used funds contributed or advanced by the Principals
to make the open market purchases of the shares of Class A Stock reported
herein.
Item 4. Purpose of the Transaction
This amendment is being filed to report the acquisition by Rebar of
an additional 222,060 shares of the Issuer's Class A Stock, purchased since
the filing of its most recent amendment to its Schedule 13D and purchased
prior to the filing of its most recent amendment to its Schedule 13D but not
previously reported. This amendment is also being filed to correct certain
previously reported information. All of the shares were acquired for
investment purposes and in order to increase Rebar's equity stake in the
Issuer. Other than as previously set forth in its Schedule 13D and
amendments thereto, Rebar has no plans or proposals with respect to the
Issuer's Class A Stock.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended and supplemented by
adding the following:
(a) Based on 18,278,812 shares of Class A Stock of the Issuer
outstanding at July 30, 1999 as set forth in the Issuer's Quarterly Report on
Form 10-Q for the fiscal quarter ended June 30, 1999, Rebar holds
approximately 60.81% of the issued and outstanding Class A Stock of the
Issuer.
(c) Rebar made the following purchases of Class A Stock in open
market transactions since the filing of its most recent amendment to its
Schedule 13D or in transactions that were not previously reported:
Date No. Shares Price per Share Total Price
- ---- --------- --------------- -----------
January 6, 1999 13,000 4.00 $52,000.00
December 1, 1998 88,760 5.00 443,800.00
October 21, 1998 5,000 3.50 17,500.00
October 19, 1998 4,500 3.50 15,750.00
February 12, 1998 21,100 4.9375 104,181.25
April 25, 1997 10,000 5.00 50,000.00
April 3, 1997 10,000 5.00 50,000.00
February 7, 1997 5,000 5.75 28,750.00
February 5, 1997 13,100 5.75 75,325.00
February 5, 1997 3,000 5.625 16,875.00
February 4, 1997 9,200 5.625 51,750.00
January 6, 1997 9,800 5.00 49,000.00
December 31, 1996 8,000 4.75 38,000.00
December 30, 1996 3,700 4.75 17,575.00
December 20, 1996 2,300 4.8125 11,068.75
December 19, 1996 7,600 4.625 35,150.00
December 18, 1996 6,000 4.5625 27,375.00
December 18, 1996 1,000 4.625 4,625.00
December 17, 1996 1,000 4.5625 4,562.50
----- ------ --------
TOTALS: 222,060 $1,093,287.50
======= =============
(d) The following table sets forth corrected information with
respect to certain open market purchases of Class A Stock of the Issuer
reported on prior amendments to its Schedule 13D:
Purchase Date No. Shares Price per Share Total Price
- ------------- ---------- --------------- -----------
November 25, 1998 11,400 4.05 $46,170.00
December 23, 1997 3,800 4.9375 18,762.50
December 17, 1997 12,000 4.9896 59,875.20
April 24, 1997 60,500 5.02 303,710.00
April 23, 1997 128,100 5.02 643,062.00
April 21, 1997 271,000 5.03 1,363,130.00
(e) The information in Item 5 of Amendment No. 7 to the Schedule
13D is hereby amended by deleting the following purchases of Class A Stock
which were reported in error:
Date No. Shares Price per Share Total Price
- ---- ---------- --------------- -----------
December 10, 1997 10,000 4.9375 49,375.00
December 10, 1997 10,000 4.9375 49,375.00
After reasonable inquiry and to the best of its knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
REBAR FINANCIAL CORP.
By:/s/ Raz Steinmetz
---------------------
Name: Raz Steinmetz
Title: President
Dated: September 12, 1999
