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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 5)
OPTIBASE, LTD.
(Name of Issuer)
ORDINARY SHARES M7524R108
NOMINAL VALUE NIS 0.13 PER SHARE
(Title of class of securities) (CUSIP number)
DAVID P. STONE, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NY 10153
(Name, address and telephone number of person authorized
to receive notices and communications)
FEBRUARY 25, 2003
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for other parties
to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
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CUSIP No. M7524R108 13D Page 2 of 6
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1 NAME OF REPORTING PERSON: MOSHE NAMDAR
I.R.S. IDENTIFICATION NO. N/A
OF ABOVE PERSON (ENTITIES ONLY):
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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: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: ISRAELI
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NUMBER OF 7 SOLE VOTING POWER: 1,265,000
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 1,265,000
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER:
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,159,300 (1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 17.6%
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14 TYPE OF REPORTING PERSON: IN
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(1) Mr. Moshe Namdar disclaims beneficial ownership of all ordinary shares that are owned, may be owned or deemed owned by
Mr. Avraham Namdar.
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CUSIP No. M7524R108 13D Page 3 of 6
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1 NAME OF REPORTING PERSON: AVRAHAM NAMDAR
I.R.S. IDENTIFICATION NO. N/A
OF ABOVE PERSON (ENTITY ONLY):
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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: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: ISRAELI
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NUMBER OF 7 SOLE VOTING POWER: 894,300
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 894,300
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER:
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,159,300 (1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 17.6%
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14 TYPE OF REPORTING PERSON: IN
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(1) Mr. Avraham Namdar disclaims beneficial ownership of all ordinary shares that are owned, may be owned or deemed owned
by Mr. Moshe Namdar
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CUSIP No. M7524R108 13D Page 4 of 6
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 5 ("Amendment No. 5") amends and supplements the
statement on Schedule 13D filed on July 24, 2002 (the "Statement"), as amended
and supplemented by Amendment No. 1, filed on August 1, 2002, Amendment No. 2,
filed on October 3, 2002, Amendment No. 3, filed on November 25, 2002 and
Amendment No. 4, filed on December 30, 2002, relating to Ordinary Shares, par
value NIS 0.13 per share (the "Ordinary Shares"), of Optibase Ltd., a
corporation organized under the laws of Israel (the "Issuer") filed on behalf of
Messrs. Moshe and Avraham Mandar (collectively, the "Reporting Persons").
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
As of the date hereof, the Reporting Persons purchased an aggregate
of 2,159,300 Ordinary Shares for total consideration (including brokerage
commissions) of $5,808,417. Such shares were purchased with the Reporting
Person's personal funds.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Mr. Moshe Namdar and Mr. Avraham Namdar are brothers. As a result, each of
the Reporting Persons may be deemed to beneficially own 2,159,300 Ordinary
Shares, or approximately 17.6% of the total outstanding Ordinary Shares (based
on the number of the Issuer's Ordinary Shares outstanding as of October 27,
2002, of 12,268,596, as stated in the Issuer's report on form 6-K, filed with
the Securities and Exchange Commission on December 20, 2002).
(b) Mr. Moshe Namdar has the power to vote or direct the vote and dispose or
direct the disposition of 1,265,000 Ordinary Shares covered by this Schedule
13D.
Mr. Avraham Namdar has the power to vote or direct the vote and dispose or
direct the disposition of 894,300 Ordinary Shares covered by this Schedule 13D.
(c) Transactions in the Ordinary Shares effected by the Reporting Persons since
December 23, 2002 are described in Schedule A attached hereto and incorporated
herein by reference. All such transactions were effected in the open market on
the Nasdaq National Market.
(d), (e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit No. Description
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Schedule A Information concerning transactions in the
Ordinary Shares effected by the Reporting Persons
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CUSIP No. M7524R108 13D Page 5 of 6
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this Amendment No. 4 is true,
complete and correct.
February 27, 2003
Moshe Namdar
/s/ Moshe Namdar
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Avraham Namdar
/s/ Avraham Namdar
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CUSIP No. M7524R108 13D Page 6 of 6
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SCHEDULE A
Schedule of Transactions in the Ordinary Shares
Date of Number of Price per Nature of
Transaction Shares Share Transaction
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2/18/03 100,000 $ 1.84 Purchase (1)
2/25/03 100,000 $ 1.84 Purchase (1)
2/26/03 5,000 $ 1.84 Sale (2)
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(1) - Purchase by Mr. Moshe Namdar
(2) - Sale by Mr. Moshe Namdar