- Amended Statement of Ownership (SC 13G/A)
February 10 2009 - 10:39AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
MAGAL SECURITY SYSTEMS, LTD.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
M6786D104
(CUSIP Number)
December 31, 2008
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
þ
Rule 13d-1(b)
o
Rule 13d-1(c)
o
Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting persons 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).
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CUSIP No.
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M6786D104
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13G
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Page
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2
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of
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10
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1.
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NAME OF REPORTING PERSONS / I.R.S. IDENTIFICATION
NO. OF ABOVE PERSONS (ENTITIES ONLY)
CLOUGH CAPITAL PARTNERS L.P.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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770,842 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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770,842 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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770,842 (see Item 4)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.41% (see Item 4)
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12.
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TYPE OF REPORTING PERSON
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IA Investment Adviser
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CUSIP No.
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M6786D104
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13G
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Page
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3
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of
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10
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1.
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NAME OF REPORTING PERSONS / I.R.S. IDENTIFICATION
NO. OF ABOVE PERSONS (ENTITIES ONLY)
CLOUGH CAPITAL PARTNERS LLC
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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770,842 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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770,842 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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770,842 (see Item 4)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.41% (see Item 4)
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12.
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TYPE OF REPORTING PERSON
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HC Parent Holding Company/Control Person
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CUSIP No.
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M6786D104
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13G
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Page
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4
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of
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10
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1.
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NAME OF REPORTING PERSONS / I.R.S. IDENTIFICATION
NO. OF ABOVE PERSONS (ENTITIES ONLY)
CHARLES I. CLOUGH, JR.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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UNITED STATES
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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770,842 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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770,842 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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770,842 (see Item 4)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.41% (see Item 4)
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12.
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TYPE OF REPORTING PERSON
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HC Parent Holding Company/Control Person
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CUSIP No.
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M6786D104
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13G
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Page
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5
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of
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10
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1.
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NAME OF REPORTING PERSONS / I.R.S. IDENTIFICATION
NO. OF ABOVE PERSONS (ENTITIES ONLY)
JAMES E. CANTY
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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UNITED STATES
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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770,842 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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770,842 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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770,842 (see Item 4)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.41% (see Item 4)
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12.
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TYPE OF REPORTING PERSON
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HC Parent Holding Company/Control Person
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CUSIP No.
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M6786D104
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13G
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Page
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6
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of
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10
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1.
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NAME OF REPORTING PERSONS / I.R.S. IDENTIFICATION
NO. OF ABOVE PERSONS (ENTITIES ONLY)
ERIC A. BROCK
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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UNITED STATES
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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770,842 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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770,842 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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770,842 (see Item 4)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.41% (see Item 4)
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12.
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TYPE OF REPORTING PERSON
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HC Parent Holding Company/Control Person
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CUSIP No.
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M6786D104
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13G
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Page
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7
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of
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10
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(a) Name of Issuer: Magal Security System, Ltd.
(b) Address of Issuers Principal Executive Offices:
P.O. Box 70, Industrial Zone
56000, Yahud, Israel
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(a) and (c)
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Name and Domicile/Citizenship of Persons Filing:
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(i)
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Clough Capital Partners L.P., a Delaware limited partnership.
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(ii)
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Clough Capital Partners LLC, a Delaware limited liability company.
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(iii)
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Charles I. Clough, Jr., a United States citizen.
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(iv)
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James E. Canty, a United States citizen.
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(v)
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Eric A. Brock, a United States citizen.
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(b)
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Each of the Reporting Persons has a business address of:
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One Post Office Square, 40th Floor, Boston, MA 02109.
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(d)
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Title of Class of Securities: Common Stock, par value $0.01 per share.
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(e)
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CUSIP Number: M6786D104
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ITEM 3.
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IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C), CHECK WHETHER
THE PERSON FILING IS A:
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(a)
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o
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Broker or Dealer registered under Section 15 of the Act
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(b)
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o
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Bank as defined in section 3(a)(6) of the Act
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(c)
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o
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Insurance Company as defined in section 3(a)(19) of the Act
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(d)
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o
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Investment Company registered under section 8 of the Investment Company
Act of 1940
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(e)
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þ
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Investment Adviser registered under section 203 of the Investment Advisers
Act or under the laws of any State
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(f)
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o
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Employee Benefit Plan, Pension fund which is subject to the provisions of
the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Section
240.13d-1(b)(1)(ii)(F)
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(g)
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þ
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A Parent Holding Company or control person, in accordance with Section
240.13d-1(b)(ii)(G) (Note: See Item 7)
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(h)
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o
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A Savings Association as defined in Section 3(b) of the Federal Deposit
Insurance Act
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(i)
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o
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A Church Plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940
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(j)
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Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)
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CUSIP No.
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M6786D104
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13G
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Page
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8
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of
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10
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Provide the following information regarding the aggregate number and percentage of the class of
securities of the issuer identified in Item 1.
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(a)
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Amount Beneficially Owned: 770,842 *
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(b)
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Percent of Class: 7.41%*
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(c)
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Number of shares as to which such person has:
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(i)
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sole power to vote or to direct the vote: 0
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(ii)
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shared power to vote or to direct the vote: 770,842 *
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(iii)
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sole power to dispose or to direct the disposition of: 0
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(iv)
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shared power to dispose or to direct the disposition of: 770,842 *
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*
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The shares reported above include shares beneficially owned by investment companies, pooled
investment vehicles and other accounts for which Clough Capital Partners L.P. serves as
investment adviser. Such shares may be deemed beneficially owner by (a) Clough Capital
Partners L.P., (b) Clough Capital Partners LLC, the general partner of Clough Capital Partners
L.P., and (c) Messrs. Clough, Canty and Brock, the managing members of Clough Capital Partners
LLC. Each such reporting person disclaims beneficial ownership of such shares except to the
extent of its respective pecuniary interest therein.
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The share holding and percent of class data set forth above is reported as of the date of
the filing of this statement on Schedule 13G.
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ITEM 5.
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OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
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If this statement is being filed to report the fact that as of the date hereof the reporting
person has ceased to be the beneficial owner of more than five percent of the class of securities,
check the following
o
.
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ITEM 6
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OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
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Not Applicable.
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ITEM 7.
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IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE PARENT HOLDING COMPANY
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See Exhibit 1.
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CUSIP No.
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M6786D104
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13G
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Page
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9
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of
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10
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ITEM 8.
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IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
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Not Applicable.
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ITEM 9.
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NOTICE OF DISSOLUTION OF GROUP
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Not Applicable.
By signing below, I certify that, to the best of my knowledge and belief, the securities
referred to above were acquired and are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the effect of changing or influencing the
control of the issuer of such securities and were not acquired and are not held in connection with
or as a participant in any transaction having that purpose or effect.
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CUSIP No.
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M6786D104
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13G
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Page
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10
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of
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10
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the
information set forth in this statement is true, complete and correct.
Date: February 9, 2009
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CLOUGH CAPITAL PARTNERS L.P.
By Clough Capital Partners LLC,
its general partner
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By:
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/s/ James E. Canty
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James E. Canty,
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a managing member
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CLOUGH CAPITAL PARTNERS LLC
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By:
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/s/ James E. Canty
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James E. Canty,
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a managing member
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/s/ Charles I. Clough
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Charles I. Clough, Jr., individually
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/s/ James E. Canty
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James E. Canty, individually
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/s/ Eric A. Brock
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Eric A. Brock, individually
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Exhibit 1
This statement on Schedule 13G (and any amendments hereto) is filed by (a) Clough Capital
Partners L.P., (b) Clough Capital Partners LLC, the general partner of Clough Capital Partners
L.P., and (c) each of Charles I. Clough, Jr., James E. Canty and Eric A. Brock, the managing
members of Clough Capital Partners LLC.
Exhibit 2
JOINT FILING AGREEMENT
This Joint Filing Agreement, dated as of February 9, 2009, is by and among Clough Capital
Partners L.P., a Delaware limited partnership, Clough Capital Partners LLC, a Delaware limited
liability company, Charles I. Clough, Jr., James E. Canty and Eric A. Brock (the foregoing are
collectively referred to herein as the Clough Capital Filers).
Each of the Clough Capital Filers may be required to file with the United States Securities
and Exchange Commission a statement on Schedule 13G (and amendments thereto) with respect to shares
of Common Stock, par value $0.01 per share, of Magal Security Systems Ltd., an Israel corporation,
beneficially owned by them from time to time.
Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated under the Securities Exchange
Act of 1934, as amended, the Clough Capital Filers hereby agree to file a single statement on
Schedule 13G (and any amendments thereto) on behalf of each of the Clough Capital Filers, and
hereby further agree to file this Joint Filing Agreement as an exhibit to such statement, as
required by such rule.
This Joint Filing Agreement may be terminated by any of the Clough Capital Filers upon written
notice to the other Clough Capital Filers.
Executed and delivered as of the date first above written.
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CLOUGH CAPITAL PARTNERS L.P.
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By
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Clough Capital Partners LLC,
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/s/ Charles I. Clough
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its general partner
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Charles I. Clough, Jr., individually
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By:
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/s/ James E. Canty
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/s/ James E. Canty
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James E. Canty,
a managing member
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James E. Canty, individually
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CLOUGH CAPITAL PARTNERS LLC
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/s/ Eric A. Brock
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Eric A. Brock, individually
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By:
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/s/ James E. Canty
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James E. Canty,
a managing member
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Listed Funds Trust Round... (NASDAQ:MAGS)
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