UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Gravity Co., Ltd.
(Name of Issuer)
Common Stock, Par Value Won 500 Per Share
(Title of Class of Securities)
38911N107
(CUSIP Number)
Marran Ogilvie
666 Third Avenue
26th Floor
New York, New York 10017
(212) 845-7909 (Name, Address and Telephone
Number of Person
Authorized to Receive Notices and Communications)
July 14, 2006
(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.
(Page 1 of 28 Pages)
----------------
*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. 38911N107 13D Page 2 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Starboard Value and Opportunity Master Fund Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
53,646.50
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
53,646.50
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
53,646.50
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.77%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 3 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Parche, LLC 20-0870632
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
74,006.75
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
74,006.75
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
74,006.75
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.07%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 4 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
RCG Ambrose Master Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
44,244
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
44,244
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
44,244
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.64%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 5 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
RCG Halifax Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
44,676
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
44,676
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
44,676
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.64%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 6 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Ramius Master Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
156,607.50
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
156,607.50
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
156,607.50
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.25%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 7 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Ramius Fund III, Ltd
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
6,663
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
6,663
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
6,663
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.10%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 8 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Admiral Advisors, LLC 37-1484525
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
127,653.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
127,653.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
127,653.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.84%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IA, OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 9 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Ramius Advisors, LLC 13-3954331
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
163,270.50
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
163,270.50
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
163,270.50
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.35%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IA, OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 10 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Safe Harbor Master Fund, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
181,420.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
181,420.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
181,420.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.61%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 11 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Safe Harbor Investment Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
181,420.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
181,420.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
181,420.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.61%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 12 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Ramius Capital Group, L.L.C. 13-3937658
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
561,264
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
561,264
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IA, OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 13 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
C4S & Co., L.L.C. 13-3946794
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
561,264
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
561,264
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 14 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Peter A. Cohen
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
561,264
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
561,264
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 15 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Morgan B. Stark
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
561,264
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
561,264
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 16 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Thomas W. Strauss
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
561,264
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
561,264
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 17 of 28 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Jeffrey M. Solomon
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
561,264
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
561,264
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
561,264
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.08%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 38911N107 13D Page 18 of 28 Pages
This Amendment No. 4 ("Amendment No. 4") amends the statement on Schedule
13D dated March 28, 2006 as amended by Amendment No. 1 dated May 2, 2006,
Amendment No. 2 dated May 23, 2006 and Amendment No. 3 dated June 1, 2006 (the
"Original Statement"). Any capitalized terms used in this Amendment No. 4 and
not otherwise defined herein shall have the meanings ascribed to such terms in
the Original Statement.
CUSIP No. 38911N107 13D Page 19 of 28 Pages
Item 4. Purpose of the Transaction.
Item 4 is hereby amended and supplemented by the addition of the following:
As previously disclosed, on June 1, 2006, the Committee filed a petition for
injunction with the Seoul Central District Court against Gravity to exercise its
shareholder's rights under Korean law to inspect the financial documents of
Gravity, including with respect to certain related party transactions among
Gravity, GungHo Online Entertainment ("GungHo"), SOFTBANK Corp. ("SOFTBANK") and
certain affiliates of GungHo and SOFTBANK.
On July 18, 2006, the Seoul Central District Court granted the Committee's
petition to inspect financial documents of Gravity. The Committee intends to
commence its inspection of the documents immediately.
The Court did not grant the Committee's request for access to a subset of
documents that it did not classify as financial documents.
The Committee issued a press release on July 19, 2006 regarding this decision, a
copy of which is attached as Exhibit VI hereto and is incorporated by reference
herein.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as follows:
Transactions in the Common Stock since the filing of the Original Statement
(which were all in the open market unless otherwise noted on Schedule F-4) by
the Reporting Persons are set forth in Schedule F-4 attached hereto and
incorporated by reference herein.
1. Starboard
(a) As of July 17, 2006, Starboard may be deemed the
beneficial owner of 53,646.50 shares of Common Stock.
Percentage: Approximately 0.77% as of the date hereof.
The percentages used herein and in the rest of Item 5
are calculated based upon 6,948,900 shares, which
reflects the shares of Common Stock outstanding as of
December 31, 2005, as reported by the Company on its
Form 20-F filed on June 30, 2006.
(b) 1. Sole power to vote or direct vote: 53,646.50
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
53,646.50
4. Shared power to dispose or direct the disposition: 0
(c) The number of shares of Common Stock acquired by
Starboard since the filing of the Original Statement is
set forth in Schedule F-4 and is incorporated by
reference. Starboard entered into transactions in the
Common Stock since the filing of the Original Statement
which are set forth on Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
2. Parche
(a) As of July 17, 2006, Parche may be deemed the beneficial
owner of 74,006.75 shares of Common Stock.
Percentage: Approximately 1.07% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 74,006.75
2. Shared power to vote or direct vote: 0
CUSIP No. 38911N107 13D Page 20 of 28 Pages
3. Sole power to dispose or direct the disposition:
74,006.75
4. Shared power to dispose or direct the disposition: 0
(c) The number of shares of Common Stock acquired by Parche
since the filing of the Original Statement is set forth
in Schedule F-4 and is incorporated by reference. Parche
entered into transactions in the Common Stock since the
filing of the Original Statement which are set forth on
Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
3. RCG Ambrose
(a) As of July 17, 2006, RCG Ambrose may be deemed the
beneficial owner of 44,244 shares of Common Stock.
Percentage: Approximately 0.64% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 44,244
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
44,244
4. Shared power to dispose or direct the disposition: 0
(c) The number of shares of Common Stock acquired by RCG
Ambrose since the filing of the Original Statement is
set forth in Schedule F-4 and is incorporated by
reference. RCG Ambrose entered into transactions in the
Common Stock since the filing of the Original Statement
which are set forth on Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
4. RCG Halifax
(a) As of July 17, 2006, RCG Halifax may be deemed the
beneficial owner of 44,676 shares of Common Stock.
Percentage: Approximately 0.64% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 44,676
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
44,676
4. Shared power to dispose or direct the disposition: 0
CUSIP No. 38911N107 13D Page 21 of 28 Pages
(c) The number of shares of Common Stock acquired by RCG
Halifax since the filing of the Original Statement is
set forth in Schedule F-4 and is incorporated by
reference. RCG Halifax entered into transactions in the
Common Stock since the filing of the Original Statement
which are set forth on Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
5. Ramius Master Fund
(a) As of July 17, 2006, Ramius Master Fund may be deemed
the beneficial owner of 156,607.50 shares of Common
Stock.
Percentage: Approximately 2.25% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 156,607.50
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
156,607.50
4. Shared power to dispose or direct the disposition: 0
(c) The number of shares of Common Stock acquired by Ramius
Master Fund since the filing of the Original Statement
is set forth in Schedule F-4 and is incorporated by
reference. Ramius Master Fund entered into transactions
in the Common Stock since the filing of the Original
Statement which are set forth on Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
6. Ramius Fund III
(a) As of July 17, 2006, Ramius Fund III may be deemed the
beneficial owner of 6,663 shares of Common Stock.
Percentage: Approximately 0.10% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 6,663
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
6,663
4. Shared power to dispose or direct the disposition: 0
CUSIP No. 38911N107 13D Page 22 of 28 Pages
(c) The number of shares of Common Stock acquired by Ramius
Fund III since the filing of the Original Statement is
set forth in Schedule F-4 and is incorporated by
reference. Ramius Fund III entered into transactions in
the Common Stock since the filing of the Original
Statement which are set forth on Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
7. Admiral
(a) As of July 17, 2006, Admiral may be deemed the
beneficial owner of 127,653.25 shares of Common Stock.
Percentage: Approximately 1.84% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 127,653.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
127,653.25
4. Shared power to dispose or direct the disposition: 0
(c) Admiral did not enter into any transactions in the
Common Stock since the filing of the Original Statement.
The transactions in the Common Stock since the filing of
the Original Statement on behalf of Starboard and
Parche, which were all in the open market (except as
otherwise indicated on Schedule F-4), are set forth in
Schedule F-4, and are incorporated by reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
8. Ramius Advisors
(a) As of July 17, 2006, Ramius Advisors may be deemed the
beneficial owner of 163,270.50 shares of Common Stock.
Percentage: Approximately 2.35% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 163,270.50
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
163,270.50
4. Shared power to dispose or direct the
CUSIP No. 38911N107 13D Page 23 of 28 Pages
disposition: 0
(c) Ramius Advisors did not enter into any transactions in
the Common Stock since the filing of the Original
Statement. The transactions in the Common Stock since
the filing of the Original Statement on behalf of Ramius
Master Fund and Ramius Fund III, which were all in the
open market (except as otherwise indicated on Schedule
F-4), are set forth in Schedule F-4, and are
incorporated by reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
9. Safe Harbor Master Fund
(a) As of July 17, 2006, Safe Harbor Master Fund may be
deemed the beneficial owner of 181,420.25 shares of
Common Stock.
Percentage: Approximately 2.61% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 181,420.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
181,420.25
4. Shared power to dispose or direct the disposition: 0
(c) The number of shares of Common Stock acquired by Safe
Harbor Master Fund is set forth in Schedule F-4 and is
incorporated by reference. Safe Harbor Master Fund
entered into transactions in the Common Stock since the
filing of the Original Statement which are set forth on
Schedule F-4.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
10. Safe Harbor Investment
(a) As of July 17, 2006, Safe Harbor Investment may be
deemed the beneficial owner of 181,420.25 shares of
Common Stock.
Percentage: Approximately 2.61% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 181,420.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
CUSIP No. 38911N107 13D Page 24 of 28 Pages
181,420.25
4. Shared power to dispose or direct the disposition: 0
(c) Safe Harbor Investment did not enter into any
transactions in the Common Stock since the filing of the
Original Statement. The transactions in the Common Stock
since the filing of the Original Statement on behalf of
Safe Harbor Master Fund, which were all in the open
market (except as otherwise indicated on Schedule F-4),
are set forth in Schedule F-4, and are incorporated by
reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
11. Ramius Capital
(a) As of July 17, 2006, Ramius Capital may be deemed the
beneficial owner of 561,264 shares of Common Stock.
Percentage: Approximately 8.08% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 561,264
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
561,264
4. Shared power to dispose or direct the disposition: 0
(c) Ramius Capital did not enter into any transactions in
the Common Stock since the filing of the Original
Statement. The transactions in the Common Stock since
the filing of the Original Statement on behalf of
Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius
Master Fund, Ramius Fund III and Safe Harbor Master
Fund, which were all in the open market (except as
otherwise indicated on Schedule F-4), are set forth in
Schedule F-4, and are incorporated by reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
12. C4S
(a) As of July 17, 2006, C4S may be deemed the beneficial
owner of 561,264 shares of Common Stock.
Percentage: Approximately 8.08% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 561,264
CUSIP No. 38911N107 13D Page 25 of 28 Pages
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
561,264
4. Shared power to dispose or direct the disposition: 0
(c) C4S did not enter into any transactions in the Common
Stock since the filing of the Original Statement. The
transactions in the Common Stock since the filing of the
Original Statement on behalf of Starboard, Parche, RCG
Ambrose, RCG Halifax, Ramius Master Fund, Ramius Fund
III and Safe Harbor Master Fund, which were all in the
open market (except as otherwise indicated on Schedule
F-4), are set forth in Schedule F-4, and are
incorporated by reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
such shares of the Common Stock.
(e) Not applicable.
13. Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon
(a) As of July 17, 2006, each of Mr. Cohen, Mr. Stark, Mr.
Strauss and Mr. Solomon may be deemed the beneficial
owner of 561,264 shares of Common Stock. Each of Mr.
Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon disclaims
beneficial ownership of the shares of Common Stock owned
by Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius
Master Fund, Ramius Fund III and Safe Harbor Master
Fund, and the filing of this Schedule 13D shall not be
construed as an admission that any such person is the
beneficial owner of any such securities.
Percentage: Approximately 8.08% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 561,264
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition:
561,264
(c) Neither Mr. Cohen, Mr. Stark, Mr. Strauss nor Mr.
Solomon has entered into any transactions in the Common
Stock since the filing of the Original Statement. The
transactions in the Common Stock since the filing of the
Original Statement on behalf of Starboard, Parche, RCG
Ambrose, RCG Halifax, Ramius Master Fund, Ramius Fund
III and Safe Harbor Master Fund, which were all in the
open market (except as otherwise indicated on Schedule
F-4), are set forth in Schedule F-4, and are
incorporated by reference.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the
receipt of dividends from, or proceeds from the sale of,
CUSIP No. 38911N107 13D Page 26 of 28 Pages
such shares of the Common Stock.
(e) Not applicable.
Upon information and belief, as of the close of business on July 17, 2006,
Moon may be deemed to beneficially own 564,400.25 shares of Common Stock,
105,971 of which, representing approximately 1.53% of its beneficial ownership,
are owned directly in the form of Common Stock and 458,429.25 of which,
representing approximately 6.60% of its beneficial ownership, are owned in the
form of ADSs.
Item 7. Material to be Filed as Exhibits.
Item 7 is hereby amended to add the following Exhibit:
Exhibit VI: Press Release, issued July 19, 2006 by the Gravity
Committee for the Fair Treatment of Minority Shareholders.
CUSIP No. 38911N107 13D Page 27 of 28 Pages
SCHEDULE F-4
PURCHASES OF COMMON STOCK
Date Price Qua(1)
RCG Ambrose Master Fund, Ltd. 6/1/2006 7.8360 670
6/2/2006 7.8648 287
6/5/2006 7.8015 747
6/6/2006 7.5000 29
6/7/2006 7.3582 241
6/8/2006 7.1297 1,495
6/9/2006 7.4181 154
6/13/2006 7.2291 525
6/14/2006 6.9689 403
6/15/2006 7.0052 266
6/16/2006 7.2338 91
6/19/2006 7.1537 108
6/20/2006 6.9500 57
6/20/2006 6.9609 872
6/21/2006 6.9922 58
6/23/2006 7.2162 250
6/27/2006 7.1000 205
6/28/2006 7.0933 51
6/29/2006 7.1264 1,426
6/30/2006 6.9780 748
7/3/2006 7.0450 11
7/5/2006 6.8818 377
7/6/2006 6.9983 1,687
7/7/2006 6.8400 6
7/10/2006 6.9500 15
7/11/2006 6.8706 273
7/12/2006 6.9067 171
7/13/2006 6.9212 506
7/14/2006 6.7254 1,085
7/17/2006 6.5108 423
RCG Halifax Fund, Ltd. 6/1/2006 7.8360 684
6/2/2006 7.8648 293
6/5/2006 7.8015 763
6/6/2006 7.5000 29
6/7/2006 7.3582 246
6/8/2006 7.1297 1,525
6/9/2006 7.4181 157
6/13/2006 7.2291 536
6/14/2006 6.9689 411
6/15/2006 7.0052 271
6/16/2006 7.2338 93
6/19/2006 7.1537 111
6/20/2006 6.9500 58
6/20/2006 6.9609 889
6/21/2006 6.9922 59
6/23/2006 7.2162 255
6/27/2006 7.1000 210
6/28/2006 7.0933 52
6/29/2006 7.1264 1,455
6/30/2006 6.9780 763
7/3/2006 7.0450 12
7/5/2006 6.8818 385
7/6/2006 6.9983 1,722
7/7/2006 6.8400 6
7/10/2006 6.9500 16
7/11/2006 6.8706 278
7/12/2006 6.9067 174
7/13/2006 6.9212 517
7/14/2006 6.7254 1,107
Parche, LLC 6/1/2006 7.8360 971
6/1/2006 7.8360 291
6/2/2006 7.8648 416
6/2/2006 7.8648 123
6/5/2006 7.8015 1,083
6/5/2006 7.8015 324
6/6/2006 7.5000 41
6/6/2006 7.5000 12
6/7/2006 7.3582 452
6/8/2006 7.1297 2,807
6/9/2006 7.4181 289
6/13/2006 7.2291 986
6/14/2006 6.9689 757
6/15/2006 7.0052 499
6/16/2006 7.2338 171
6/19/2006 7.1537 203
6/20/2006 6.9500 107
6/20/2006 6.9609 1,637
6/21/2006 6.9922 109
6/23/2006 7.2162 468
6/27/2006 7.1000 386
6/28/2006 7.0933 96
6/29/2006 7.1264 2,677
6/30/2006 6.9780 1,403
7/3/2006 7.0450 22
7/5/2006 6.8818 708
7/6/2006 6.9983 3,168
7/7/2006 6.8400 11
7/10/2006 6.9500 26
7/11/2006 6.8706 471
7/12/2006 6.9067 295
7/13/2006 6.9212 875
7/14/2006 6.7254 1,874
7/17/2006 6.5108 797
Ramius Master Fund, Ltd. 6/1/2006 7.8360 2,339
6/2/2006 7.8648 1,002
6/5/2006 7.8015 2,608
6/6/2006 7.5000 100
6/7/2006 7.3582 841
6/8/2006 7.1297 5,216
6/9/2006 7.4181 537
6/13/2006 7.2291 1,833
6/14/2006 6.9689 1,406
6/15/2006 7.0052 927
6/16/2006 7.2338 319
6/19/2006 7.1537 378
6/20/2006 6.9500 199
6/20/2006 6.9609 3,041
6/21/2006 6.9922 201
6/23/2006 7.2162 871
6/27/2006 7.1000 717
6/28/2006 7.0933 179
6/29/2006 7.1264 4,977
6/30/2006 6.9780 2,609
7/3/2006 7.0450 40
7/5/2006 6.8818 1,316
7/6/2006 6.9983 5,888
7/7/2006 6.8400 21
7/10/2006 6.9500 54
7/11/2006 6.8706 952
7/12/2006 6.9067 596
7/13/2006 6.9212 1,767
7/14/2006 6.7254 3,786
7/17/2006 6.5108 1,475
Ramius Fund III, Ltd. 6/1/2006 7.8360 137
6/2/2006 7.8648 59
6/5/2006 7.8015 153
6/6/2006 7.5000 6
6/7/2006 7.3582 49
6/8/2006 7.1297 305
6/9/2006 7.4181 31
6/13/2006 7.2291 107
6/14/2006 6.9689 82
6/15/2006 7.0052 55
6/16/2006 7.2338 19
6/19/2006 7.1537 22
6/20/2006 6.9500 12
6/20/2006 6.9609 178
6/21/2006 6.9922 12
6/23/2006 7.2162 51
6/27/2006 7.1000 42
6/28/2006 7.0933 10
6/29/2006 7.1264 291
6/30/2006 6.9780 153
7/3/2006 7.0450 2
7/5/2006 6.8818 77
7/6/2006 6.9983 344
7/7/2006 6.8400 1
7/10/2006 6.9500 3
7/11/2006 6.8706 56
7/12/2006 6.9067 35
7/13/2006 6.9212 103
7/14/2006 6.7254 221
7/17/2006 6.5108 86
Safe Harbor Master Fund L.P. 6/1/2006 7.8360 5,131
6/2/2006 7.8648 2,198
6/5/2006 7.8015 5,718
6/6/2006 7.5000 218
6/7/2006 7.3582 1,844
6/8/2006 7.1297 11,436
6/9/2006 7.4181 1,180
6/13/2006 7.2291 4,021
6/14/2006 6.9689 3,084
6/15/2006 7.0052 2,034
6/16/2006 7.2338 698
6/19/2006 7.1537 830
6/20/2006 6.9500 437
6/20/2006 6.9609 6,670
6/21/2006 6.9922 441
6/23/2006 7.2162 1,911
6/27/2006 7.1000 1,571
6/28/2006 7.0933 395
6/29/2006 7.1264 10,914
6/30/2006 6.9780 5,721
7/2/2006 7.0450 87
7/5/2006 6.8818 2,886
7/6/2006 6.9983 12,914
7/7/2006 6.8400 46
7/10/2006 6.9500 118
7/11/2006 6.8706 2,090
7/12/2006 6.9067 1,305
7/13/2006 6.9212 3,874
7/14/2006 6.7254 8,302
7/17/2006 6.5108 3,236
Starboard Value and Opportunity
Master Fund Ltd. 6/1/2006 7.8360 1,528
6/2/2006 7.8648 656
6/5/2006 7.8015 1,704
6/6/2006 7.5000 65
6/7/2006 7.3582 551
6/8/2006 7.1297 3,416
6/9/2006 7.4181 352
6/13/2006 7.2291 1,201
6/14/2006 6.9689 921
6/15/2006 7.0052 607
6/16/2006 7.2338 209
6/19/2006 7.1537 248
6/20/2006 6.9500 130
6/20/2006 6.9609 1,992
6/21/2006 6.9922 132
6/23/2006 7.2162 571
6/27/2006 7.1000 469
6/28/2006 7.0933 117
6/29/2006 7.1264 3,260
6/30/2006 6.9780 1,709
7/3/2006 7.0450 26
7/5/2006 6.8818 862
7/6/2006 6.9983 3,857
7/7/2006 6.8400 9
7/10/2006 6.9500 23
7/11/2006 6.8706 406
7/12/2006 6.9067 254
7/13/2006 6.9212 753
7/14/2006 6.7254 1,614
7/17/2006 6.5108 990
(1) The Reporting Persons purchased ADS, each of which represents .25 shares of
Common Stock.
CUSIP No. 38911N107 13D Page 28 of 28 Pages
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: July 18, 2006
STARBOARD VALUE AND OPPORTUNITY RAMIUS MASTER FUND, LTD.
MASTER FUND LTD. By: Ramius Advisors, LLC
its investment manager
PARCHE, LLC By: Ramius Capital Group, L.L.C.
By: Admiral Advisors, LLC, its its managing member
managing member
RAMIUS FUND III, LTD
RCG AMBROSE MASTER FUND, LTD. By: Ramius Advisors, LLC
By: Ramius Capital Group, L.L.C., its investment manager
its investment manager By: Ramius Capital Group, LLC
By: C4S & Co., L.L.C., its managing member
its managing member
ADMIRAL ADVISORS, LLC
RCG HALIFAX FUND, LTD. By: Ramius Capital Group, L.L.C.,
By: Ramius Capital Group, L.L.C., its managing member
its investment manager
By: C4S & Co., L.L.C., RAMIUS ADVISORS, LLC
its managing member By: Ramius Capital Group, L.L.C.,
its managing member
RAMIUS CAPITAL GROUP, L.L.C.
By: C4S & Co., L.L.C.,
as managing member
C4S & CO., L.L.C.
By: /s/ Jeffrey M. Solomon
-------------------------------
Name: Jeffrey M. Solomon
Title: Authorized Signatory
SAFE HARBOR MASTER FUND, L.P. SAFE HARBOR INVESTMENT LTD.
By: Safe Harbor Investment Ltd., By: /s/ Jeffrey M. Solomon
its general partner ----------------------------
Name: Jeffrey M. Solomon
By: /s/ Jeffrey M. Solomon Title: Authorized Signatory
----------------------------
Name: Jeffrey M. Solomon
Title: Authorized Signatory
JEFFREY M. SOLOMON
/s/ Jeffrey M. Solomon
--------------------------------
Individually and as attorney-in-
fact for Peter A. Cohen, Morgan
B. Stark and Thomas W. Strauss