UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. 11)*
RADA ELECTRONIC INDUSTRIES LIMITED
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(Name of Issuer)
Ordinary Shares, Par Value NIS .005 Per Share
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(Title of Class of Securities)
750115305
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(CUSIP Number)
Robert T. Burke, Esq.
MBV Law LLP
855 Front Street
San Francisco, CA 94111
(415) 781-4400
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 14, 2002
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(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 schedules, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page should 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).
SCHEDULE 13D
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CUSIP NO. 750115305 PAGE 2 OF 5 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Howard P.L. Yeung
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS
4
PF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong
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SOLE VOTING POWER
7
NUMBER OF 3,837,084
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
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EACH SOLE DISPOSITIVE POWER
9
REPORTING 3,837,084
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,837,084
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[X]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
27.3%
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TYPE OF REPORTING PERSON
14
IN
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SCHEDULE 13D
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CUSIP NO. 750115305 PAGE 3 OF 5 PAGES
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This Amendment amends Item 5 of the Statement on Schedule 13D filed by
Howard P.L. Yeung, an individual residing in Hong Kong ("H. Yeung"), on June 8,
1998, as amended by amendments to the Schedule 13D filed on August 11, 1999,
February 1, 2001, March 28, 2001, April 23, 2001, May 21, 2001, July 17, 2001,
October 10, 2001, December 12, 2001, January 28, 2002, and March 29, 2002,
relating to the Ordinary Shares, par value NIS.005 per share (the "Ordinary
Shares"), of Rada Electronic Industries Limited, an Israeli corporation
("Rada"), by amending such item as set forth below.
ITEM 5: INTEREST IN SECURITIES OF THE ISSUER
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Item 5 of the Schedule 13D is amended by adding the following to the
disclosure already made under the indicated subparagraphs of Item 5:
(a) H. Yeung owns directly 3,601,172 Ordinary Shares, representing
approximately 26.1% of the outstanding Ordinary Shares. If H. Yeung were to
exercise the First Stock Purchase Warrant and the 2001 Warrant previously
reported, he would own 3,837,084 Ordinary Shares, representing approximately
27.3% of the outstanding Ordinary Shares. These percentages are based on
13,816,829 Ordinary Shares issued and outstanding as of November 23, 2001,
according to Rada's Proxy Statement dated November 27, 2001. Any percentages in
this report that assume exercise of warrants include in the total number of
outstanding Ordinary Shares the number of Ordinary Shares that would be acquired
by the exercise of such warrants.
As previously reported, H. Yeung owns 50% of the issued and outstanding
capital stock of Horsham Enterprises Limited, a British Virgin Islands
corporation ("Horsham"). Horsham currently owns 1,350,086 Ordinary Shares (the
"Horsham-Rada Shares"). If, by virtue of his ownership interest in Horsham, H.
Yeung is deemed to be the beneficial owner of the Horsham-Rada Shares, H. Yeung
would be the beneficial owner of 5,187,170 Ordinary Shares (assuming full
exercise of the First Stock Purchase Warrant and the 2001 Warrant). Such
5,187,170 Ordinary Shares would represent approximately 36.9% of the total
number of the outstanding Ordinary Shares. The filing of this statement shall
not be construed as an admission that H. Yeung is the beneficial owner of the
Horsham-Rada Shares.
(b) H. Yeung has sole voting and sole dispositive power over the Ordinary
Shares acquired as described under Item 5(c) below.
SCHEDULE 13D
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CUSIP NO. 750115305 PAGE 4 OF 5 PAGES
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(c) H. Yeung has purchased Ordinary Shares as described below. All
transactions were purchases in the open market:
Date Ordinary Shares Price per Share
03/21/02 20,000 1.63250
11,000 1.60000
03/22/02 50,000 1.65000
03/25/02 10,000 1.60000
04/05/02 1,000 1.56000
04/08/02 1,000 1.58000
04/09/02 1,000 1.57000
5,000 1.55000
04/11/02 6,000 1.54750
04/12/02 1,000 1.59000
5,000 1.55000
5,000 1.50000
04/15/02 1,000 1.60000
300 1.50000
04/16/02 1,000 1.57000
3,600 1.50000
04/17/02 1,000 1.55000
2,000 1.50000
04/18/02 1,000 1.60000
04/19/02 1,000 1.54000
04/22/02 1,000 1.55000
04/23/02 1,000 1.59000
04/24/02 1,000 1.52000
04/25/02 1,000 1.50000
1,000 1.54000
04/26/02 7,000 1.50000
1,000 1.54000
04/29/02 12,000 1.50000
1,000 1.53000
04/30/02 1,000 1.54000
05/01/02 1,000 1.52000
SCHEDULE 13D
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CUSIP NO. 750115305 PAGE 5 OF 5 PAGES
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5,890 1.50000
05/02/02 1,000 1.55000
100 1.50000
1,200 1.47000
05/03/02 1,000 1.54000
18,000 1.50000
05/06/02 21,000 1.50000
05/07/02 1,000 1.52000
20,000 1.50000
05/08/02 1,000 1.51000
5,000 1.50000
05/09/02 1,000 1.54000
5,000 1.50000
05/10/02 1,000 1.50000
05/13/02 1,000 1.50000
05/14/02 1,000 1.50000
(d) Not applicable.
(e) Not applicable.
SIGNATURE
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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.
May 15, 2002
/s/ Howard P.L. Yeung
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Howard P.L. Yeung