Amendment No. 8

 

 

Page 1 of 9

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

 

 

Tower Semiconductor Ltd.

(Name of Issuer)

Ordinary Shares, NIS 15.00 par value per share

(Title of Class of Securities)

M87915-10-0

(CUSIP Number)

Ronen Meidan

Bank Hapoalim B.M.

63 Yehuda Halevi St.

Tel Aviv 6578109, Israel

972-3-567-4174

(Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

September 30, 2015

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 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 (“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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

 

 

 

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13D

 

CUSIP No. M87915-10-0   Page 2 of 9

 

  1.   

Names of Reporting Persons.

Bank Hapoalim B.M.

 

I.R.S. Identification Nos. of above persons (entities only).

Not applicable.

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨        (b)  x

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions) OO

 

  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

 

  6.  

Citizenship or Place of Organization – Israel

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power – 3,859,877

 

     8.   

Shared Voting Power – 29,887

 

     9.   

Sole Dispositive Power – 3,859,877

 

   10.   

Shared Dispositive Power – 29,887

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person – 3,889,764

 

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  x

 

13.  

Percent of Class Represented by Amount in Row (11) – 4.6% (1)

 

14.  

Type of Reporting Person (See Instructions)

 

BK

 

(1) Based on the number of Ordinary Shares outstanding as at December 31, 2015, as reported by Tower to the Tel Aviv Stock Exchange (“TASE”), and calculated in accordance with rule 13d-3(d)(1)(i).

 

 

 

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13D

 

CUSIP No. M87915-10-0   Page 3 of 9

 

  1.   

Names of Reporting Persons.

Tarshish Hahzakot Vehashkaot Hapoalim Ltd.

 

I.R.S. Identification Nos. of above persons (entities only).

Not applicable.

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨        (b)  x

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions) OO

 

  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

 

  6.  

Citizenship or Place of Organization – Israel

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power – 0

 

     8.   

Shared Voting Power – 29,887

 

     9.   

Sole Dispositive Power – 0

 

   10.   

Shared Dispositive Power – 29,887

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person – 29,887

 

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  x

 

13.  

Percent of Class Represented by Amount in Row (11) – less than 0.01% (1)

 

14.  

Type of Reporting Person (See Instructions)

 

CO

 

(1) Based on number of Ordinary Shares outstanding as at December 31, 2015, as reported by Tower to TASE, and calculated in accordance with rule 13d-3(d)(1)(i).

 

 

 

3


13D

 

CUSIP No. M87915-10-0   Page 4 of 9

 

 

The statement on Schedule 13D, dated February 3, 2011, of Bank Hapoalim B.M. (“Hapoalim”) and Tarshish Hahzakot Vehashkaot Hapoalim Ltd. (“Tarshish”) (collectively, the “Reporting Persons”), as amended by Amendment No. 1 thereto, dated June 10, 2013, Amendment No. 2 thereto, dated June 24, 2013, Amendment No. 3 thereto, dated July 22, 2013, Amendment No. 4 thereto, dated January 15, 2014, Amendment No. 5 thereto, dated June 6, 2014, Amendment No. 6 thereto, dated August 29, 2014 and Amendment No. 7 thereto, dated March 6, 2015, is hereby further amended as follows:

Item 2. Identity and Background

Schedule A is hereby amended to read in its entirety as attached hereto and incorporated by reference.

Item 5. Interest in Securities of the Issuer

Item 5(a)-(c) is hereby amended to read in its entirety as follows:

“To the knowledge of the Reporting Persons:

 

  (a)     (1) Hapoalim is the beneficial owner of 3,889,764 Ordinary Shares, including 3,010,626 Ordinary Shares issuable upon conversion of its currently convertible capital notes, 170,374 Ordinary Shares issuable upon exercise of currently exercisable warrants (including warrants to purchase 140,487 Ordinary Shares held by Hapoalim and a warrant to purchase 29,887 Ordinary Shares held by Tarshish, its wholly-owned subsidiary) expiring on December 31, 2018 and 105,885 Series 9 Warrants expiring on June 27, 2017. Hapoalim (and Tarshish’s) ownership, as aforesaid collectively represents approximately 4.6% of the Ordinary Shares outstanding as at December 31, 2015, as reported by Tower to TASE, and calculated in accordance with rule 13d-3(d)(1)(i).

 

  (2) Tarshish is the beneficial owner of 29,887 Ordinary Shares issuable upon exercise of its currently exercisable warrant, representing less than 0.01% of the Ordinary Shares outstanding as at December 31, 2015 as reported by Tower to TASE, and calculated in accordance with rule 13d-3(d)(1)(i).

 

  (b) Hapoalim has sole voting and dispositive power over 3,859,877 Ordinary Shares, including 3,010,626 Ordinary Shares issuable upon conversion of currently convertible capital notes, 140,487 Ordinary Shares issuable upon exercise of currently exercisable warrants expiring on December 31, 2018 and 105,885 Series 9 Warrants expiring on June 27, 2017. Hapoalim and Tarshish share voting and dispositive power over 29,887 Ordinary Shares issuable upon exercise of a currently exercisable warrant held by Tarshish expiring on December 31, 2018.

 

  (c) Save for the following, neither Hapoalim nor Tarshish has effected any transactions in the Ordinary Shares during the past 60 days:

Set forth below are the dates of sale, number and average price per share of Ordinary Shares sold by Hapoalim on NASDAQ.

 

Date

  

Number of Shares

  

Price Per Share

December 21, 2015

   50,000    US $15.0889

December 22, 2015

   41,050    US $15.0218

December 23, 2015

   50,000    US $15.0839

December 28, 2015

   22,967    US $15.0098

 

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13D

 

CUSIP No. M87915-10-0   Page 5 of 9

 

 

Item 5 is hereby amended to add paragraph (e) thereto as follows:

 

  (e) Based on the report on Form 6-K filed by Tower with the Securities and Exchange Commission on November 12, 2015, containing Tower’s press release reporting its results for the third quarter ended September 30, 2015, Hapoalim ceased to be a reporting person by no later than September 30, 2015.

 

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13D

 

CUSIP No. M87915-10-0   Page 6 of 9

 

 

Signature

After reasonable 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.

January 10, 2016

 

Date

 

/s/ Dan Alexander Koller    /s/ Ronen Meidan

 

Signature

Bank Hapoalim B.M.

 

Dan Alexander Koller, Head of

Financial Markets Division

  

Ronen Meidan, Head of

Equity Investments Unit

 

Name/Title

January 10, 2016

 

Date

 

/s/ Dan Alexander Koller    /s/ Ronen Meidan

 

Signature

Tarshish Hahzakot Vehashkaot Hapoalim Ltd.

 

Dan Alexander Koller, Chairman of Board of Directors    Ronen Meidan, Director

 

Name/Title

 

6


13D

 

CUSIP No. M87915-10-0   Page 7 of 9

 

 

SCHEDULE A

Information Regarding Senior Officers and Directors of Bank Hapoalim B.M.

Board of Directors

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Yair Seroussi

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Chairman of the Board of Bank

Hapoalim B.M.

   Israel

Irit Izakson

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Chairman of the Boards of Directors

of the credit-card companies in the

Bank Group, director in various

companies

   Israel

Mali Baron

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Director of companies    Israel

Amnon Dick

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Businessman, partner in

communications companies,

consultant and director. CEO of

Adsensory Ltd.

   Israel

Meir Wietchner

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Head of Global strategy for the

Arison Group and Chairman of the

Miya Group

   Israel

Nir Zichlinskey

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

President and CEO of SRI Global

Group

   Israel

Imri Tov

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Director of companies; business

consultant and researcher in defense

economics

   Israel

Yaacov Peer

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Financial and managerial consultant

for small businesses

   Israel

Efrat Peled

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Chairman of the Board and CEO of

the following companies: Arison

Holdings (1998) Ltd.,

Arison Investments Ltd.,

Arison Sustainability Ltd.,

Arzaf Ltd., Arzaf B (97) Ltd., and

Arzaf D Ltd. and CEO of the

following companies: SAFO LLC and

Arzaf C Ltd.

   Israel

Moshe Koren

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Banking and financial consultant    Israel

Dafna Schwartz

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Professor and member of staff at the

Department of Business

Administration, Faculty of

Management, Ben Gurion University

of the Negev, Economic and business

consultant in Israel and overseas

   Israel

Ido Stern

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Deputy General Manager and legal

counsel at Arison Holdings (1998)

Ltd. and Arison Investments Ltd.

   Israel

Yosef Yarom

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Lecturer on auditing in the business

sector at Haifa University

   Israel & Argentina

 

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13D

 

CUSIP No. M87915-10-0   Page 8 of 9

 

 

Senior Officers

 

Name    Business Address    Principal Occupation   Citizenship

Zion Kenan

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   President and Chief Executive

Officer

  Israel

Ari Pinto

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Retail Banking   Israel

Jacob Orbach

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Corporate Banking   Israel

Efrat Yavetz

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Human Capital,

Advising, and Resources

  Israel

Ofer Levy

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Chief Accountant   Israel

Dan Alexander Koller

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Financial Markets   Israel

Ilan Mazur

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Chief Legal Adviser   Israel

Yadin Antebi

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Chief Financial Officer   Israel

Ron Weksler

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Corporate Strategy   Israel

Amir Aviv

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of International Banking   Israel

Zeev Chayu

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Internal Audit in Israel

and abroad

  Israel

Ronit Shapira

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Corporate Secretary   Israel

Tsahi Cohen

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Chief Risk Officer   Israel

Avi Kochva

  

63 Yehuda Halevi St., Tel

Aviv, Israel

   Head of Information Technology   Israel

PRINCIPAL HOLDERS OF THE

ISSUED SHARE CAPITAL OF BANK HAPOALIM B.M.

 

NAME

   % OF CAPITAL

ARISON HOLDINGS (1998) LTD

   20.2%

 

8


13D

 

CUSIP No. M87915-10-0   Page 9 of 9

 

 

Arison Holdings (1998) Ltd.—Director Information

 

Name    Address    Citizenship    Principal Occupation

Irit Izakson

  

63 Yehuda Halevi St., Tel-

Aviv, Israel

   Israel    director in various companies

Shari Arison

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel & USA    Investor

James M. Dubin

  

c/o Paul Weiss, 1285

Avenue of the Americas,

New York, NY

   USA    Attorney—Paul Weiss

Jason Arison

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel & USA   

Chairman, The Ted Arison Family

Foundation (Israel) Ltd.

David Arison

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel & USA    Officer of MIYA, an Arison Group Company

Cassie Arison

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel & USA    Investor

Efrat Peled

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel   

Chairman of the Board and CEO of

Arison Holdings (1998) Ltd., CEO

and director in various companies

Daniel Arison

  

23 Shaul Hamelech Blvd.,

Tel-Aviv, Israel

   Israel & USA    Investor

Information Regarding Senior Officers and Directors

of Tarshish Hahzakot Vehashkaot Hapoalim Ltd.

Board of Directors

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Eran Zimmerman

  

11 Hanegev St., Tel-Aviv,

Israel

  

CEO (Tarshish). SVP capital

management -Bank Hapoalim

B.M.

   Israel

Dan Alexander Koller

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Head of Financial Markets -

Bank Hapoalim B.M.

   Israel

Ronen Meidan

  

63 Yehuda Halevi St., Tel

Aviv, Israel

  

Head of Equity Investment Unit-

Bank Hapoalim B.M.

   Israel

Arie Stainfeld

  

62 Yehuda Halevi St., Tel

Aviv, Israel

  

Head of Exposures and Risk

Management Department- Bank

Hapoalim B.M.

   Israel

Guy Kalif, C.P.A.

(Isr)

  

11 Hanegev St., Tel-Aviv,

Israel

  

Manager, Comptroller Division -

Bank Hapoalim B.M.

   Israel

 

9