UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 6)1
ModusLink Global Solutions, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
60786L107
(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
Authorized to Receive Notices and Communications)
March 7, 2012
(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.
_______________
1 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).
CUSIP NO. 60786L107
|
1
|
NAME OF REPORTING PERSON
HANDY & HARMAN LTD.
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||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
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3
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SEC USE ONLY
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||
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4
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SOURCE OF FUNDS
WC
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||
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
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SOLE VOTING POWER
5,657,801
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|
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8
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SHARED VOTING POWER
- 0 -
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||
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9
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SOLE DISPOSITIVE POWER
5,657,801
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||
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10
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SHARED DISPOSITIVE POWER
- 0 -
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||
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,657,801
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||
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.9%
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||
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14
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TYPE OF REPORTING PERSON
CO
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||
2
CUSIP NO. 60786L107
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1
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NAME OF REPORTING PERSON
BNS HOLDING, INC.
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||
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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
(b) o
|
|
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3
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SEC USE ONLY
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||
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4
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SOURCE OF FUNDS
WC
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||
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
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SOLE VOTING POWER
- 0 -
|
|
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8
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SHARED VOTING POWER
540,015
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||
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9
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SOLE DISPOSITIVE POWER
- 0 -
|
||
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10
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SHARED DISPOSITIVE POWER
540,015
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||
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,015
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||
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
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||
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14
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TYPE OF REPORTING PERSON
CO
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||
3
CUSIP NO. 60786L107
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1
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NAME OF REPORTING PERSON
STEEL PARTNERS, LTD.
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||
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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
(b) o
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|
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3
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SEC USE ONLY
|
||
|
4
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SOURCE OF FUNDS
WC
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||
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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¨
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|
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
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SOLE VOTING POWER
- 0 -
|
|
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8
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SHARED VOTING POWER
60,000
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||
|
9
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SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
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SHARED DISPOSITIVE POWER
60,000
|
||
|
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,000
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||
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
|
||
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14
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TYPE OF REPORTING PERSON
CO
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||
4
CUSIP NO. 60786L107
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1
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NAME OF REPORTING PERSON
STEEL PARTNERS HOLDINGS L.P.
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||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
|
3
|
SEC USE ONLY
|
||
|
4
|
SOURCE OF FUNDS
OO
|
||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
|
8
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SHARED VOTING POWER
540,015
|
||
|
9
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SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
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SHARED DISPOSITIVE POWER
540,015
|
||
|
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,015
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||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
|
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
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||
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14
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TYPE OF REPORTING PERSON
PN
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||
5
CUSIP NO. 60786L107
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1
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NAME OF REPORTING PERSON
SPH GROUP LLC
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||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
|
3
|
SEC USE ONLY
|
||
|
4
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SOURCE OF FUNDS
OO
|
||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
|
6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
|
8
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SHARED VOTING POWER
540,015
|
||
|
9
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SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
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SHARED DISPOSITIVE POWER
540,015
|
||
|
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,015
|
||
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12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
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||
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14
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TYPE OF REPORTING PERSON
OO
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||
6
CUSIP NO. 60786L107
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1
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NAME OF REPORTING PERSON
SPH GROUP HOLDINGS LLC
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||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
|
3
|
SEC USE ONLY
|
||
|
4
|
SOURCE OF FUNDS
OO
|
||
|
5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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¨
|
|
|
6
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CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
|
8
|
SHARED VOTING POWER
540,015
|
||
|
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
|
SHARED DISPOSITIVE POWER
540,015
|
||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,015
|
||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
|
||
|
14
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TYPE OF REPORTING PERSON
OO
|
||
7
CUSIP NO. 60786L107
|
1
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NAME OF REPORTING PERSON
STEEL PARTNERS HOLDINGS GP INC.
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||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
|
3
|
SEC USE ONLY
|
||
|
4
|
SOURCE OF FUNDS
OO
|
||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
|
8
|
SHARED VOTING POWER
540,015
|
||
|
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
|
SHARED DISPOSITIVE POWER
540,015
|
||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,015
|
||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
|
||
|
14
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TYPE OF REPORTING PERSON
CO
|
||
8
CUSIP NO. 60786L107
|
1
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NAME OF REPORTING PERSON
WARREN G. LICHTENSTEIN
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||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
|
3
|
SEC USE ONLY
|
||
|
4
|
SOURCE OF FUNDS
AF
|
||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
|
8
|
SHARED VOTING POWER
60,000
|
||
|
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
|
10
|
SHARED DISPOSITIVE POWER
60,000
|
||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,000
|
||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
|
||
|
14
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TYPE OF REPORTING PERSON
IN
|
||
9
CUSIP NO. 60786L107
The following constitutes Amendment No. 6 to the Schedule 13D filed by the undersigned (“Amendment No. 6”). This Amendment No. 6 amends the Schedule 13D as specifically set forth herein.
|
Item 3.
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Source and Amount of Funds or Other Consideration.
|
Item 3 is hereby amended and restated to read as follows:
The aggregate purchase price of the 5,657,801 Shares owned directly by HNH is approximately $22,844,997, including brokerage commissions. The Shares owned directly by HNH were acquired with the working capital of HNH.
The aggregate purchase price of the 540,015 Shares owned directly by BNS is approximately $2,027,540, including brokerage commissions. The Shares owned directly by BNS were acquired with the working capital of BNS.
The aggregate purchase price of the 60,000 Shares owned directly by SPL is approximately $411,192, including brokerage commissions. The Shares owned directly by SPL were acquired with the working capital of SPL.
Set forth on Schedule B annexed to Amendment No. 4 to the Schedule 13D (“Schedule B”) is the aggregate purchase price of the Shares beneficially owned, if any, by each of the persons who are not Reporting Persons listed on Schedule A annexed to Amendment No. 4 to the Schedule 13D (“Schedule A”).
|
Item 4.
|
Purpose of Transaction.
|
Item 4 is hereby amended to add the following:
On March 7, 2012, HNH issued a press release announcing delivery of a letter to the Issuer requesting an exemption under the Issuer’s Tax Benefits Preservation Plan, as well as a limited waiver under Section 203 of the Delaware General Corporation Law, to enable the Reporting Persons to purchase, through open market transactions, up to such number of additional Shares (without triggering an “ownership change” under Section 382 of the Internal Revenue Code) that would result in the Reporting Persons collectively owning approximately 19.9% of the outstanding Shares. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Item 5.
|
Interest in Securities of the Issuer.
|
Item 5(a) is hereby amended and restated to read as follows:
(a) The aggregate percentage of Shares reported owned by each person named herein is based upon 43,831,809 Shares outstanding, which is the total number of Shares outstanding as of December 1, 2011, as reported in the Issuer’s Schedule 14A filed with the Securities and Exchange Commission on December 2, 2011.
As of the date hereof, HNH owned directly 5,657,801 Shares, constituting approximately 12.9% of the Shares outstanding.
As of the date hereof, BNS owned directly 540,015 Shares, constituting approximately 1.2% of the Shares outstanding. By virtue of their relationship with BNS discussed in further detail in Item 2, each of Steel Holdings, SPHG, SPHG Holdings and Steel Holdings GP may be deemed to beneficially own the Shares owned directly by BNS.
10
CUSIP NO. 60786L107
As of the date hereof, SPL owned directly 60,000 Shares, constituting less than 1% of the Shares outstanding. By virtue of his relationship with SPL discussed in further detail in Item 2, Warren G. Lichtenstein may be deemed to beneficially own the Shares owned directly by SPL.
Set forth on Schedule B is the aggregate number and percentage of Shares beneficially owned, if any, by each of the persons who are not Reporting Persons listed on Schedule A. Unless otherwise indicated thereon, each of the persons listed on Schedule B has (i) the sole power to vote and dispose of the Shares they beneficially own, if any, and (ii) the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares that they beneficially own, if any.
This statement reports an aggregate of 6,267,816 Shares, constituting approximately 14.3% of the Shares outstanding.
Item 5(c) is hereby amended to add the following:
(c) Schedule C annexed hereto lists all transactions in the Shares since the filing of Amendment No. 5 to the Schedule 13D by the Reporting Persons. All of such transactions were effected in the open market.
|
Item 7.
|
Material to be Filed as Exhibits.
|
Item 7 is hereby amended to add the following exhibit:
|
|
99.1
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Press Release dated March 7, 2012.
|
11
CUSIP NO. 60786L107
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
|
Dated: March 7, 2012
|
HANDY & HARMAN LTD.
|
|
|
By:
|
/s/ James F. McCabe, Jr.
|
|
|
James F. McCabe, Jr.
Senior Vice President and Chief Financial Officer
|
||
|
BNS HOLDING, INC.
|
||
|
By:
|
/s/ Terry Gibson
|
|
|
Terry Gibson
President and Chief Executive Officer
|
||
|
STEEL PARTNERS, LTD.
|
||
|
By:
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/s/ Jack L. Howard
|
|
|
Jack L. Howard
President
|
||
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STEEL PARTNERS HOLDINGS L.P.
|
|||
|
By:
|
Steel Partners Holdings GP Inc.
General Partner
|
||
|
By:
|
/s/ Jack L. Howard
|
||
|
Jack L. Howard
President
|
|||
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SPH GROUP LLC
|
|||
|
By:
|
Steel Partners Holdings GP Inc.
Managing Member
|
||
|
By:
|
/s/ Jack L. Howard
|
||
|
Jack L. Howard
President
|
|||
12
CUSIP NO. 60786L107
|
SPH GROUP HOLDINGS LLC
|
|||
|
By:
|
Steel Partners Holdings GP Inc.
Manager
|
||
|
By:
|
/s/ Jack L. Howard
|
||
|
Jack L. Howard
President
|
|||
|
STEEL PARTNERS HOLDINGS GP INC.
|
||
|
By:
|
/s/ Jack L. Howard
|
|
|
Jack L. Howard
President
|
||
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/s/ Jack L. Howard
|
|
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JACK L. HOWARD
as Attorney-In-Fact for Warren G. Lichtenstein
|
13
CUSIP NO. 60786L107
SCHEDULE C
Transactions in the Shares of the Issuer Since the Filing of Amendment No. 5 to the Schedule 13D
|
Class of
Security
|
Securities
Purchased
|
Price ($)
|
Date of
Purchase
|
HANDY & HARMAN LTD.
|
Common Stock
|
28,706
|
5.5602
|
01/19/12
|
|
|
Common Stock
|
7,100
|
5.5915
|
01/20/12
|
|
|
Common Stock
|
8,952
|
5.5998
|
01/23/12
|
|
|
Common Stock
|
44,030
|
5.5985
|
01/25/12
|
|
|
Common Stock
|
14,210
|
5.6000
|
01/26/12
|
|
|
Common Stock
|
20,782
|
5.5984
|
02/10/12
|
|
|
Common Stock
|
13,786
|
5.5915
|
02/13/12
|
|
|
Common Stock
|
27,617
|
5.5743
|
02/14/12
|
|
|
Common Stock
|
23,530
|
5.5878
|
02/15/12
|
|
|
Common Stock
|
1,300
|
5.5900
|
02/16/12
|
|
|
Common Stock
|
300
|
5.5998
|
02/17/12
|
|
|
Common Stock
|
1,780
|
5.6000
|
02/21/12
|
|
|
Common Stock
|
14,805
|
5.5977
|
02/22/12
|
|
|
Common Stock
|
350
|
5.6000
|
02/23/12
|
|
|
Common Stock
|
6,597
|
5.5879
|
02/27/12
|
|
|
Common Stock
|
22,460
|
5.5951
|
02/29/12
|
|
|
Common Stock
|
27,500
|
5.5982
|
03/01/12
|
|
|
Common Stock
|
44,111
|
5.5122
|
03/02/12
|
|
|
Common Stock
|
69,400
|
5.4592
|
03/05/12
|
|
|
Common Stock
|
60,200
|
5.4700
|
03/06/12
|
|
| Common Stock | 162,747 | 5.5570 | 03/07/12 |
Exhibit 99.1
HANDY & HARMAN LTD. REQUESTS EXEMPTION TO ACQUIRE UP TO 19.9%
OF MODUSLINK GLOBAL SOLUTIONS, INC.
WHITE PLAINS, N.Y., March 7, 2012 /PRNewswire/ — Handy & Harman Ltd. (NASDAQ: HNH) (“HNH”), which together with certain affiliates owns approximately 14.3% of the outstanding shares of ModusLink Global Solutions, Inc. (NASDAQ: MLNK) (“ModusLink”), today issued a letter requesting an exemption under ModusLink’s tax benefits preservation plan, as well as a limited waiver under Section 203 of the Delaware General Corporation Law, to enable HNH and its affiliates to purchase in the open market up to 19.9% of ModusLink’s outstanding shares. ModusLink’s board of directors had previously granted to HNH and its affiliates an exemption under the plan to purchase up to 14.9% of the outstanding shares. Based on previous discussions with ModusLink, it was HNH’s belief that ModusLink would have no objection authorizing the purchase of additional shares by HNH and its affiliates to the extent that additional shares may be purchased without triggering an “ownership change” under Section 382 of the Internal Revenue Code.
Our Company
Handy & Harman Ltd. is a diversified global industrial company delivering value through the HNH Business System which drives innovation, operating excellence and superior customer service. HNH and its affiliated companies employ over 1,800 people at 29 locations in seven countries.
Our companies are organized into five businesses: Precious Metals, Tubing, Engineered Materials, Arlon Electronic Materials and Kasco.
We sell our products and services through direct sales forces, distributors and manufacturer’s representatives. We serve a diverse customer base, including the construction, electronics, telecommunications, home appliance, transportation, utility, medical, semiconductor, and aerospace and aviation markets. Other markets served include blade products and repair services for the food industry.
We are based in White Plains, New York and our common stock is listed on the NASDAQ Capital Market under the symbol HNH.
CONTACT:
Handy & Harman Ltd.
Glen Kassan,
Vice Chairman of the Board and Chief Executive Officer
914-461-1260