SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)1
ALADDIN KNOWLEDGE SYSTEMS LTD.
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(Name of Issuer)
COMMON STOCK, NO PAR VALUE
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(Title of Class of Securities)
M0392N101
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(CUSIP Number)
GEORGE R. WHITTEMORE, MILLS VALUE ADVISER, INC.,
1108 EAST MAIN STREET, RICHMOND, VIRGINIA 23219 (804) 344-3804
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
JUNE 26, 1997
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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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box
[_].
Note: Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
(Continued on following pages)
(Page 1 of 10 Pages)
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1The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934, as amended (the "Act"), or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
`
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CUSIP No. M0392N101 SCHEDULE 13D Page 2 of 10 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Mills Value Adviser, Inc.
I.R.S. ID #54-1410376
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
Not Applicable
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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) [_]
Not Applicable
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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NUMBER OF 7 SOLE VOTING POWER
SHARES 15,000
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8 SHARED VOTING POWER
BENEFICIALLY
-0-
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OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,253,830
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10 SHARED DISPOSITIVE POWER
PERSON WITH
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,253,830
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [_]
Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.6%
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14 TYPE OF REPORTING PERSON*
IA (INVESTMENT ADVISER)
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
AMENDMENT NO. 4
TO
SCHEDULE 13D
FOR
MILLS VALUE ADVISER, INC.
This Amendment No. 4 hereby amends and supplements the Schedule 13D
(the "Schedule 13D"), dated September 11, 1996, filed with the Securities and
Exchange Commission (the "SEC") on September 23, 1996, Amendment No. 1 to the
Schedule 13D, dated January 10, 1997, filed with the SEC on January 14, 1997,
Amendment No. 2 to the Schedule 13D, dated April 15, 1997, filed with the SEC on
April 24, 1997, and Amendment No. 3 to the Schedule 13D ("Amendment No. 3"),
dated May 9, 1997, filed with the SEC on May 19, 1997, with respect to the
common stock, no par value per share ("Common Stock"), of Aladdin Knowledge
Systems Ltd. (the "Issuer").
Item 1. Security and Issuer
This Amendment No. 4 relates to the common stock, no par value per
share, of Aladdin Knowledge Systems Ltd., 15 Beit Oved Street, Tel
Aviv, Israel 61110.
Item 2. Identity and Background
Mills Value Adviser, Inc.
Mills Value Adviser, Inc. (the "Corporation") is a corporation
organized under the laws of the Commonwealth of Virginia. Its
principal business is providing investment advisory services to its
clients. The address of its principal business and principal office is
1108 East Main Street, Richmond, VA 23219. During the past five years,
the Corporation has not been convicted in any criminal proceeding,
excluding traffic violations or similar misdemeanors.
On March 28, 1996, the Corporation and Charles A. Mills, III, Chairman
of the Board of the Corporation in Cases # SEC 960020 and SEC 960022
entered into an admission and consent order which accepted an order of
settlement alleging violations of Virginia Code Sections 13.1-504 A
and 13.1-504 C by the Virginia State Corporation Commission. In
particular, the order of settlement alleged that the Corporation
temporarily transacted business in the Commonwealth of Virginia as an
unregistered investment advisor; that the Corporation temporarily
employed an unregistered investment advisor representative; and that
Mr. Mills temporarily transacted
Page 3 of 10 Pages
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business in the Commonwealth of Virginia as an unregistered investment
advisor. Without admitting or denying the allegations, the Corporation
paid $200.00 and Mr. Mills paid $2,500.00 to the Commonwealth of
Virginia. The Corporation has undertaken measures to prevent a lapse
in required registrations or other similar occurrence.
Charles A. Mills, III
(A) Charles A. Mills, III
(B) 1108 East Main Street, Richmond, VA 23219
(C) Charles A. Mills, III is Chairman of the Board of the
Corporation and also a director and Chairman of Anderson &
Strudwick, Incorporated, a stock brokerage firm, whose address
is the same as the Corporation's.
(D) During the past five years, Charles A. Mills, III has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(E) On March 28, 1996, the Corporation and Charles A. Mills, III,
Chairman of the Board of the Corporation in Cases # SEC 960020
and SEC 960022 entered into an admission and consent order
which accepted an order of settlement alleging violations of
Virginia Code Sections 13.1-504 A and 13.1-504 C by the
Virginia State Corporation Commission. In particular, the
order of settlement alleged that the Corporation temporarily
transacted business in the Commonwealth of Virginia as an
unregistered investment advisor; that the Corporation
temporarily employed an unregistered investment advisor
representative; and that Mr. Mills temporarily transacted
business in the Commonwealth of Virginia as an unregistered
investment advisor. Without admitting or denying the
allegations, the Corporation paid $200.00 and Mr. Mills paid
$2,500.00 to the Commonwealth of Virginia. The Corporation has
undertaken measures to prevent a lapse in required
registrations or other similar occurrence.
(F) Charles A. Mills, III is a citizen of the United States of
America.
Page 4 of 10 Pages
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George R. Whittemore
(A) George R. Whittemore
(B) 1108 East Main Street, Richmond, VA 23219
(C) George R. Whittemore is President and a Director of the
Corporation, and is Senior Vice President of Anderson &
Strudwick, Incorporated, a stock brokerage firm, whose address
is the same as the Corporation's.
(D) During the past five years, George R. Whittemore has not been
not been convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(E) During the past five years, George R. Whittemore has not been
a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and has not been subject to a
judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect
to such laws.
(F) George R. Whittemore is a citizen of the United States of
America.
Blair J. Frantzen
(A) Blair J. Frantzen
(B) 1108 East Main Street, Richmond, VA 23219
(C) Blair J. Frantzen is Secretary/Treasurer and a Director of
the Corporation and a Vice President of Anderson & Strudwick,
Incorporated, a stock brokerage firm whose address is the same
as the Corporation's
(D) During the past five years, Blair J. Frantzen has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(E) During the past five years, Blair J. Frantzen has not been a
party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and has not been subject to a
judgment, decree or final order enjoining future violations
of, or prohibiting
Page 5 of 10 Pages
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or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such
laws.
(F) Blair J. Frantzen is a citizen of the United States of
America.
George W. Anderson
(A) George W. Anderson
(B) 1108 East Main Street, Richmond, VA 23219
(C) George W. Anderson is a Director of the Corporation as well
as a Senior Vice President of Anderson & Strudwick,
Incorporated, a stock brokerage firm, and President of
Anderson & Strudwick Holding Corporation, both of whose
addresses are the same as the Corporation's.
(D) During the past five years, George W. Anderson has not been
convicted in a criminal proceeding, excluding traffic
violations or similar misdemeanors.
(E) During the past five years, George W. Anderson has not been
a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and has not been subject to a
judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect
to such laws.
(F) George W. Anderson is a citizen of the United States of
America.
Item 3. Source and Amount of Funds and Other Consideration
The total amount of the funds used in making the purchases was
$14,256,122, of which $525,793 represent purchases since the filing
of Amendment No. 3. The source of the funds used in making the
purchases was from client accounts over which the Corporation has
discretionary investment authority.
Page 6 of 10 Pages
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Item 4. Purpose of Transaction
The Corporation, an investment advisory firm, through discretionary
investment authority granted to it by its clients, has purchased shares
of Common Stock for investment purposes on behalf of its clients.
There are no plans or proposals which the Corporation, Charles A.
Mills, III, George R. Whittemore, Blair J. Frantzen, or George W.
Anderson may have that relate to or would result in:
(A) The acquisition by any person of additional securities
of the Issuer, or the disposition of securities of the
Issuer, except as otherwise disclosed herein;
(B) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of
its subsidiaries;
(C) A sale or transfer of a material amount of assets of the
Issuer or of any of its subsidiaries;
(D) Any change in the present board of directors or management
of the Issuer, including any plans or proposals to change the
number or term of directors or to fill any existing vacancies
on the board;
(E) Any material change in the present capitalization or dividend
policy of the Issuer;
(F) Any other material change in the Issuer's business or
corporate structure;
(G) Changes in the Issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person;
(H) Causing a class of securities of the Issuer to be delisted
from a national securities exchange or to cease to be
authorized to be quoted in an inter-dealer quotation system of
a registered national securities association;
(I) A class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4)
of the Securities Exchange Act of 1934, as amended; or
(J) Any action similar to any of those enumerated above.
Page 7 of 10 Pages
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Item 5. Interest in Securities of the Issuer
(A) The aggregate number and percentage of Common Stock
beneficially owned by the Corporation are 1,253,830 shares and
12.6%, respectively.
(B) The Corporation has the sole power to vote or to direct
the vote of 15,000 of the shares identified pursuant to Item
5(a). The Corporation has the sole power to dispose or to
direct the disposition of all the shares identified pursuant
to Item 5(a).
(C) Transactions in the securities identified pursuant to Item
5(a) since the filing of Amendment No. 3 are as follows:
Beneficial Trans. Amount of Price Per Where/How
Owner Date Transaction Share Effected
MVA 05/14/97 $23,739 $11.87 Open Mkt.
MVA 05/15/97 $24,493 $12.25 Open Mkt.
MVA 05/21/97 $35,380 $11.79 Open Mkt.
MVA 05/22/97 $120,524 $12.05 Open Mkt.
MVA 06/02/97 $11,135 $11.14 Open Mkt.
MVA 06/03/97 $65,883 $11.17 Open Mkt.
MVA 06/06/97 $111,424 $11.14 Open Mkt.
MVA 06/09/97 $11,135 $11.14 Open Mkt.
MVA 06/11/97 $122,080 $12.21 Open Mkt.
(D) Not applicable.
(E) Not applicable.
Charles A. Mills, III
(A) The aggregate number and percentage of Common Stock
beneficially owned by Charles A. Mills, III are 2,000 shares
and less than 1%, respectively, and are not included in the
shares reported as beneficially owned by the Corporation. Mr.
Mills also beneficially owns 750 shares of Common Stock for
which he acts as custodian/trustee for a minor child.
(B) Charles A. Mills, III, in his individual capacity and in his
capacity as custodian/trustee, has the sole power to vote and
Page 8 of 10 Pages
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the sole power to dispose of all 2,750 shares identified
pursuant to Item 5(a).
(C) None
(D) Not applicable.
(E) Not applicable.
George R. Whittemore
(A) The aggregate number and percentage of Common Stock
beneficially owned by George R. Whittemore are 1,000 shares
and less than 1%, respectively, and are not included in the
shares reported as beneficially owned by the Corporation.
(B) George R. Whittemore has the sole power to vote and the sole
power to dispose of all 1,000 shares identified pursuant to
Item 5(a).
(C) None
(D) Not applicable.
(E) Not applicable.
Blair J. Frantzen
(A) None
(B) None
(C) None
(D) Not applicable.
(E) Not applicable.
George W. Anderson
(A) None
(B) None
(C) None
Page 9 of 10 Pages
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(D) Not applicable.
(E) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
None
Item 7. Material to be Filed as Exhibits
None
Page 10 of 10 Pages
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement on Schedule 13D is
true, complete and correct.
MILLS VALUE ADVISER, INC.
Date: June 26, 1997 /s/ CHARLES A. MILLS, III
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CHARLES A. MILLS, III
Chairman of the Board
Date: June 26, 1997 /s/ GEORGE R. WHITTEMORE
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GEORGE R. WHITTEMORE
President/Director
Date: June 26, 1997 /s/ BLAIR J. FRANTZEN
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BLAIR J. FRANTZEN
Secretary/Treasurer/Dir.
Date: June 26, 1997 /s/ GEORGE W. ANDERSON
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GEORGE W. ANDERSON
Director
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).
