UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
ESC MEDICAL SYSTEMS LTD.
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(Name of Issuer)
Ordinary Shares, NIS 0.10 par value per Share
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(Title of Class of Securities)
M40868107
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(CUSIP Number)
Asher B. Edelman Todd J. Emmerman, Esq.
717 Fifth Avenue c/o Rosenman & Colin LLP
New York, New York 10022 575 Madison Avenue
(212) 371-7711 New York, New York 10022
(212) 940-8873
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
January 24, 2000
- --------------------------------------------------------------------------------
(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.
*The 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 (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).
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edelman Value Partners, L.P.
- --------------------------------------------------------------------------------
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
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 518,900 Shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
518,900 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,900 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.88%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edelman Value Fund, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 672,320 Shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
672,320 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
672,320 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.44%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Asher B. Edelman & Associates LLC
- --------------------------------------------------------------------------------
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
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Turks and Caicos
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 672,320 Shares (comprised of shares owned by Edelman
OWNED BY Value Fund, Ltd.)
EACH --------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
672,320 Shares (comprised of shares owned by Edelman
Value Fund, Ltd.)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
672,320 Shares (comprised of shares owned by Edelman Value Fund, Ltd.)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.44%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A.B. Edelman Management Company, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 518,900 Shares (comprised of shares owned by Edelman
OWNED BY Value Partners, L.P.)
EACH --------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
518,900 Shares (comprised of shares owned by Edelman
Value Partners, L.P.)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,900 Shares (comprised of shares owned by Edelman Value Partners, L.P.)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.88%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Asher B. Edelman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,191,220 Shares (comprised of shares owned by Edelman
OWNED BY Value Partners, L.P. and shares owned by Edelman Value
EACH Fund, Ltd.)
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,191,220 Shares (comprised of shares owned by Edelman
Value Partners, L.P. and shares owned by Edelman Value
Fund, Ltd.)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,191,220 Shares (comprised of shares owned by Edelman Value Partners,
L.P. and shares owned by Edelman Value Fund, Ltd.)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.32%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robin Rodriguez
- --------------------------------------------------------------------------------
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*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
50,000 Shares (includes 17,300 shares owned by Mr.
Rodriguez's wife)
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 352,500 Shares (comprised of shares owned by Cordell
OWNED BY Consultants, Inc. (VA) Money Purchase Plan, Kamikaze
EACH Trading LLC and Amalgamated Sludge LLC)
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
50,000 Shares (includes 17,300 shares owned by Mr.
Rodriguez's wife)
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
352,500 Shares (comprised of shares owned by Cordell
Consultants, Inc. (VA) Money Purchase Plan, Kamikaze
Trading LLC and Amalgamated Sludge LLC)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
402,200 Shares (including shares owned by Cordell Consultants, Inc. (VA)
Money Purchase Plan, Kamikaze Trading LLC and Amalgamated Sludge LLC)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.55%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cordell Consultants, Inc. (VA) Money Purchase Plan
- --------------------------------------------------------------------------------
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 ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 39,600 Shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
39,600 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
39,600 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.15%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kamikaze Trading LLC
- --------------------------------------------------------------------------------
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 ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 157,950 Shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
157,950 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
157,950 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.61%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 19
<PAGE>
SCHEDULE 13D
- --------------------------------
CUSIP No. M40868107
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Amalgamated Sludge LLC
- --------------------------------------------------------------------------------
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 ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 154,950 Shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
154,950 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
154,950 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.59%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 19
<PAGE>
This Amendment No. 6 (the "Amendment") amends the Schedule 13D filed
on March 17, 1999 (the "Original Schedule 13D") which was amended by Amendment
No. 1 to the Original Schedule 13D filed on March 18, 1999, Amendment No. 2 to
the Original Schedule 13D filed on March 23, 1999, Amendment No. 3 to the
Original Schedule 13D filed on April 16, 1999, Amendment No. 4 to the Original
Schedule 13D filed on May 18, 1999 and Amendment No. 5 to the Original Schedule
13D filed on July 16, 1999, on behalf of (i) Edelman Value Partners, L.P., a
Delaware limited partnership ("Edelman Value Partners"), (ii) Edelman Value
Fund, Ltd., a British Virgin Islands corporation ("Edelman Value Fund"), (iii)
A.B. Edelman Management Company, Inc., a New York corporation ("Edelman
Management"), (iv) Asher B. Edelman & Associates LLC, a Turks and Caicos limited
liability company ("Edelman Associates"), (v) Asher B. Edelman (Asher B.
Edelman, Edelman Value Partners, Edelman Value Fund, Edelman Associates and
Edelman Management are hereinafter collectively referred to as the "Edelman
Entities"), (vi) Kamikaze Trading LLC, a Virginia limited liability company
("Kamikaze"), (vii) Amalgamated Sludge LLC, a Nevada limited liability company
("Amalgamated"), (viii) Cordell Consultants, Inc. (VA) Money Purchase Plan, a
Virginia corporation ("Cordell"), and (ix) Robin Rodriguez (Robin Rodriguez,
Kamikaze, Amalgamated and Cordell are hereinafter collectively referred to as
the "Rodriguez Entities"), with respect to the Ordinary Shares, par value NIS
0.10 per share (the "Shares") of ESC Medical Systems Ltd., a company
incorporated in the State of Israel (the "Company"). Capitalized terms herein
which are not otherwise defined herein shall have the meanings ascribed to such
terms in the Original Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended as follows:
The aggregate amount of funds used by Edelman Value Partners to
purchase Shares since the date of Amendment No. 5 to the Original Schedule 13D
was $583,186. The source of funds used by Edelman Value Partners to purchase
such Shares was working capital.
The aggregate amount of funds used by Edelman Value Fund to purchase
Shares since the date of Amendment No. 5 to the Original Schedule 13D was
$753,531. The source of funds used by Edelman Value Fund to purchase such Shares
was working capital.
Item 4. Purpose of Transaction.
Item 4 is hereby amended as follows:
Following the June 1999 reconstitution of the Company's Board in a
manner deemed favorable by the Reporting Persons, the Edelman Entities and the
Rodriguez Entities ceased to have any agreement with respect to their respective
investments in the Company.
Item 5. Interest in Securities of the Issuer.
(a) Item 5(a) is hereby amended and restated to read as follows:
The aggregate percentage of the outstanding Shares of the Company
reported owned by each Reporting Person is based upon 27,562,492 Shares of the
Company outstanding, as of September 30, 1998, as reported in the Company's
quarterly report on Form 10-Q for the period ended September 30, 1999.
Page 11 of 19
<PAGE>
As of the close of business on January 24, 2000.
(i) Edelman Value Partners owns 518,900 Shares which
constitute approximately 1.88% of the Shares of the Company outstanding;
(ii) Edelman Management owns no Shares of the Company. As sole
General Partner of Edelman Value Partners, Edelman Management may be
deemed, by the provisions of Rule 13d-3 of the Exchange Act Rules, to be
the beneficial owner of the 518,900 Shares owned by Edelman Value
Partners. Such Shares constitute approximately 1.88% of the Shares of the
Company outstanding;
(iii) Edelman Value Fund owns 672,320 Shares which constitute
approximately 2.44% of the Shares of the Company outstanding;
(iv) Edelman Associates owns no Shares of the Company. As the
Investment Manager of Edelman Value Fund, Edelman Associates may be
deemed, by the provisions of Rule 13d-3 of the Exchange Act Rules, to be
the beneficial owner of the 672,320 Shares owned by Edelman Value Fund.
Such Shares constitute approximately 2.44% of the Shares of the Company
outstanding;
(v) Asher B. Edelman owns no Shares of the Company. As the
President and sole Director of Edelman Management, which is the sole
General Partner of Edelman Value Partners, and as the Member of Edelman
Associates, which is the Investment Manager of Edelman Value Fund, Asher
B. Edelman may be deemed under the provisions of Rule 13d-3 of the
Exchange Act Rules, to be the beneficial owner of 518,900 Shares of the
Company owned by Edelman Value Partners and the 672,320 Shares of the
Company owned by Edelman Value Fund. Such Shares, in the aggregate,
constitute approximately 4.32% of the Shares of the Company outstanding;
(vi) Cordell owns 39,600 Shares of the Company which
constitute approximately 0.15% of the Shares of the Company outstanding;
(vii) Kamikaze owns 157,950 Shares of the Company which
constitute approximately 0.61% of the Shares of the Company outstanding;
(viii) Amalgamated owns 154,950 Shares of the Company which
constitute approximately 0.59% of the Shares of the Company outstanding;
(ix) Robin Rodriguez owns 50,000 Shares of the Company
(including 17,300 Shares held by Mr. Rodriguez's wife) which constitute
approximately 0.19% of the Shares of the Company outstanding. In addition,
as the Managing Member of Kamikaze, the Managing Member of Amalgamated and
the President and sole director of Cordell, Robin Rodriguez may be deemed,
by the provisions of Rule 13d-3 of the Exchange Act Rules to be the
beneficial owner of the 157,950 Shares of the Company owned by Kamikaze,
the 154,950 Shares of the Company owned by Amalgamated and the 39,600
Shares of the Company owned by Cordell. Such Shares (including those held
by Mr. Rodriguez) in the aggregate constitute approximately 1.55% of the
Shares of the Company outstanding.
Page 12 of 19
<PAGE>
(c) Item 5(c) is hereby amended as follows:
Set forth below is a description of all transactions in Shares of
the Company that were effected by any of the Reporting Persons within the last
60 days. All such transactions were effected on the open market.
Number Price
Entity Purchase/Sale Date Of Shares per Share
------ ------------- ---- --------- ---------
Edelman Value Partners P 11/30/99 7,000 $ 5.25
Edelman Value Fund P 11/30/99 10,000 $ 5.40
Edelman Value Partners P 12/14/99 500 $ 5.52
Edelman Value Partners S 12/16/99 8,000 $ 6.39248
Edelman Value Fund S 12/16/99 14,200 $ 6.39248
Edelman Value Fund S 12/17/99 6,000 $ 7.13766
Edelman Value Partners S 12/17/99 6,000 $ 7.13766
Edelman Value Partners S 12/21/99 10,000 $ 7.45445
Edelman Value Fund S 12/21/99 13,100 $ 7.45445
Edelman Value Fund S 12/22/99 5,000 $ 7.62724
Edelman Value Partners S 12/22/99 5,000 $ 7.62724
Edelman Value Partners P 12/28/99 4,000 $ 7.9121
Edelman Value Fund P 12/28/99 6,100 $ 7.9121
Edelman Value Partners P 12/29/99 3,000 $ 8.5454
Edelman Value Fund P 12/29/99 4,500 $ 8.5454
Edelman Value Fund P 12/30/99 12,900 $ 9.1498
Edelman Value Partners P 12/30/99 7,000 $ 9.1498
Edelman Value Partners P 12/31/99 3,000 $ 9.125
Edelman Value Partners P 12/31/99 20,000 $ 9.536
Edelman Value Fund P 12/31/99 27,900 $ 9.536
Edelman Value Fund S 1/3/00 5,500 $ 9.7531
Edelman Value Partners S 1/3/00 4,500 $ 9.7531
Edelman Value Fund S 1/7/00 10,000 $ 8.666
Edelman Value Partners S 1/7/00 7,700 $ 8.666
Edelman Value Fund S 1/12/00 10,000 $ 5.00 (1)
Edelman Value Partners S 1/18/00 8,100 $ 5.00 (1)
Edelman Value Fund S 1/18/00 2,500 $ 5.00 (1)
Edelman Value Partners S 1/20/00 16,000 $ 11.5563
Edelman Value Fund S 1/20/00 16,000 $ 11.5563
Edelman Value Partners S 1/21/00 17,500 $ 7.50 (1)
Edelman Value Fund S 1/21/00 14,400 $ 11.546
Edelman Value Partners S 1/21/00 14,000 $ 11.546
Edelman Value Partners S 1/24/00 46,900 $ 5.00 (1)
Edelman Value Partners S 1/24/00 61,200 $ 7.50 (1)
Edelman Value Partners S 1/24/00 10,000 $ 10.00 (1)
Edelman Value Fund S 1/24/00 42,500 $ 5.00 (1)
Edelman Value Fund S 1/24/00 88,800 $ 7.50 (1)
Edelman Value Fund S 1/24/00 16,000 $ 10.00 (1)
- ---------
(1) Transaction effected on exercise of call option.
Page 13 of 19
<PAGE>
(e) Item 5(e) is hereby amended as follow:
As of June 1999, the Rodriguez Entities ceased to be members of a
"group" owning more than five percent of the outstanding Shares of the
Company.
As of January 24, 2000, the Edelman Entities ceased to beneficially
own, in the aggregate, more than five percent of the outstanding Shares of
the Company.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Item 6 is hereby amended and as follows:
Between November 19, 1999 and January 6, 2000, Edelman Value
Partners and Edelman Value Fund wrote call options with respect to an aggregate
of 546,400 Shares with exercise prices ranging between $5.00 and $10.00 per
option. As of January 24, 2000, options with respect to 303,500 Shares had been
exercised.
Item 7. Material to be Filed as Exhibits.
Item 7 is hereby restated as follows:
Exhibit 1: Agreement Pursuant to Rule 13d-1(k)
Exhibit 2: Power of Attorney by the Reporting Persons in favor of
Scott G. Kasen
Exhibit 5: Agreement by Asher B. Edelman & Associates LLC to be
Bound by Provisions of Joint Filing Agreement and Power
of Attorney.
Page 14 of 19
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in
this statement is true, complete and correct.
Dated: January 25, 2000
/s/ Scott G. Kasen
--------------------------------------------------------
Scott G. Kasen, as attorney-in-fact for each of Asher B.
Edelman, Edelman Value Partners, L.P., Edelman Value
Fund, Ltd., A.B. Edelman Management Company, Inc., Asher
B. Edelman & Associates LLC, Robin Rodriguez, Kamikaze
Trading LLC, Amalgamated Sludge LLC and Cordell
Consultants, Inc. (VA) Money Purchase Plan
Page 15 of 19
EXHIBIT 1
AGREEMENT REGARDING JOINT FILING UNDER
SECTION 13(d) OF THE EXCHANGE ACT
FOR VALUE RECEIVED, the undersigned, effective as of March 17, 1999,
hereby agree as follows:
1. Joint Filing Authorization. Each party hereto authorizes ASHER B.
EDELMAN to file on their behalf with the Securities & Exchange Commission (the
"SEC"), all appropriate exchanges and other appropriate parties, as a joint
filing for all of the undersigned parties pursuant to Rule 13d-1(k), a statement
of their beneficial ownership of the Ordinary Shares, par value NIS 0.10 per
share of ESC MEDICAL SYSTEMS, LTD. (the "Company") on Schedule 13D as
promulgated by the SEC, including any pertinent amendments thereto, and
including, where applicable, additions or deletions to the group represented by
the undersigned.
2. Power of Attorney.
(a) Each of Edelman Value Partners, L.P., Edelman Value Fund, Ltd.,
and A.B. Edelman Company, Inc., individually and in its capacity as General
Partner of Edelman Value Partners, L.P., hereby designates and appoints ASHER B.
EDELMAN as their attorney-in-fact, to take all actions and to execute all
documentation in their stead and on their behalf necessary or prudent to
effectuate the joint filings relating to the Company contemplated by this
Agreement, until revoked in writing by the party.
(b) Each of Kamikaze Trading LLC, Amalgamated Sludge LLC and Cordell
Consultants, Inc. (VA) Money Purchase Plan hereby designates and appoints ROBIN
RODRIGUEZ as their attorney-in-fact, to take all actions and to execute all
documentation in their stead and on their behalf necessary or prudent to
effectuate the joint filings relating to the Company contemplated by this
Agreement, until revoked in writing by the party.
3. Binding on Heirs, Representatives, Successors and Assigns. This
Agreement shall be binding upon the undersigned and their respective heirs,
representatives, successors and assigns.
/s/ Asher B. Edelman
--------------------
Asher B. Edelman
EDELMAN VALUE PARTNERS, L.P.,
a Delaware limited partnership
By: A.B. Edelman Management Company, Inc.,
a New York corporation, General Partner
By: /s/ Asher B. Edelman
---------------------------
Asher B. Edelman, President
Page 16 of 19
<PAGE>
EDELMAN VALUE FUND, LTD.,
a British Virgin Islands corporation
By: /s/ Asher B. Edelman
------------------------------------
Asher B. Edelman, Investment Manager
A.B. EDELMAN MANAGEMENT COMPANY, INC.,
a New York corporation
By: /s/ Asher B. Edelman
------------------------------------
Asher B. Edelman, President
/s/ Robin Rodriguez
------------------------------------
Robin Rodriguez
KAMIKAZE TRADING LLC,
a Virginia limited liability company
By: /s/ Robin Rodriguez
------------------------------------
Robin Rodriguez, Managing Member
AMALGAMATED SLUDGE LLC ,
a Nevada limited liability company
By: /s/ Robin Rodriguez
------------------------------------
Robin Rodriguez, Managing Member
CORDELL CONSULTANTS, INC. (VA) MONEY
PURCHASE PLAN, a Virginia corporation
By: /s/ Robin Rodriguez
------------------------------------
Robin Rodriguez, President
Page 17 of 19
EXHIBIT 2
POWER OF ATTORNEY
Each of Edelman Value Partners, L.P., Edelman Value Fund, Ltd., A.B.
Edelman Company, Inc., individually and in its capacity as General Partner of
Edelman Value Partners, L.P., Asher B. Edelman, Kamikaze Trading LLC,
Amalgamated Sludge LLC, Cordell Consultants, Inc. (VA) Money Purchase Plan and
Robin Rodriguez hereby designates and appoints SCOTT B. KASEN as their
attorney-in-fact, to take all actions and to execute all documentation in their
stead and on their behalf necessary or prudent to effectuate any amendments to
the Schedule 13D with respect to ESC Medical Systems, Ltd. filed by such
entities and individuals, until revoked in writing by such entity or individual.
This Agreement shall be binding upon the undersigned and their
respective heirs, representatives, successors and assigns.
/s/ Asher B. Edelman /s/ Robin Rodriguez
- ----------------------------------- --------------------------------------
Asher B. Edelman Robin Rodriguez
EDELMAN VALUE FUND, LTD., a British KAMIKAZE TRADING LLC, a Virginia
Virgin Islands corporation limited liability company
By: /s/ Asher B. Edelman By: /s/ Robin Rodriguez
------------------------------- ----------------------------------
Asher B. Edelman, Investment Robin Rodriguez, Managing Member
Manager
A.B. EDELMAN MANAGEMENT AMALGAMATED SLUDGE LLC , a Nevada
COMPANY, INC., a New York corporation limited liability company
By: /s/ Asher B. Edelman By: /s/ Robin Rodriguez
------------------------------- ----------------------------------
Asher B. Edelman, President Robin Rodriguez, Managing Member
EDELMAN VALUE PARTNERS, L.P. CORDELL CONSULTANTS, INC. (VA)
MONEY PURCHASE PLAN, a Virginia
corporation
By: A.B. EDELMAN MANAGEMENT
COMPANY, INC., a New York
corporation
By: /s/ Asher B. Edelman By: /s/ Robin Rodriguez
------------------------------- ----------------------------------
Asher B. Edelman, President Robin Rodriguez, President
Page 18 of 19
EXHIBIT 5
AGREEMENT TO BE BOUND BY
JOINT FILING AGREEMENT
AND POWER OF ATTORNEY
The undersigned, ASHER B. EDELMAN & ASSOCIATES LLC, hereby agrees to be bound,
as though an original signatory, by the provisions of the Agreement Regarding
Joint Filing Under Section 13(d) of the Exchange Act entered into among Asher B.
Edelman, Edelman Value Partners, L.P., Edelman Value Fund, Ltd., A.B. Edelman
Management Company, Inc., Robin Rodriguez, Kamikaze Trading LLC, Amalgamated
Sludge LLC, and Cordell Consultants, Inc. (VA) Money Purchase Plan
(collectively, the "Initial Reporting Persons") and the Power of Attorney in
favor of Scott G. Kasen executed by the Initial Reporting Persons, in each case
in connection with the filing of a statement of beneficial ownership (and
amendments thereto) with respect to ESC Medical Systems, Inc.
Dated: July 16, 1999
ASHER B. EDELMAN & ASSOCIATES LLC
By: /s/ Asher B. Edelman
-------------------------------------
Asher B. Edelman, Managing Member
Page 19 of 19
