UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
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 26, 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
55,809
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
55,809
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
55,809
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.80%
-----------------------------------------------------------------------------
(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
75,829.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
75,829.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
75,829.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.09%
-----------------------------------------------------------------------------
(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
45,167.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
45,167.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
45,167.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.65%
-----------------------------------------------------------------------------
(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
159,829.5
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
159,829.5
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
159,829.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.30%
-----------------------------------------------------------------------------
(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
6,851.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
6,851.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
6,851.25
-----------------------------------------------------------------------------
(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
131,638.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
131,638.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
131,638.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.89%
-----------------------------------------------------------------------------
(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
166,680.75
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
166,680.75
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
166,680.75
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.40%
-----------------------------------------------------------------------------
(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
188,486.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
188,486.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
188,486.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.71%
-----------------------------------------------------------------------------
(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
188,486.25
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
188,486.25
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
188,486.25
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.71%
-----------------------------------------------------------------------------
(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
576,648.5
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
576,648.5
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(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
576,648.5
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
0
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
576,648.5
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(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
576,648.5
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
576,648.5
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(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
576,648.5
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
576,648.5
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(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
576,648.5
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
576,648.5
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(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
576,648.5
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
576,648.5
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
576,648.5
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.30%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
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CUSIP No. 38911N107 13D Page 18 of 28 Pages
This Amendment No. 5 ("Amendment No. 5") 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, Amendment No. 3 dated June 1, 2006 and
Amendment No. 4 dated July 18, 2006 (the "Original Statement"). Any capitalized
terms used in this Amendment No. 5 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 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-5) by
the Reporting Persons are set forth in Schedule F-5 attached hereto and
incorporated by reference herein.
1. Starboard
(a) As of July 31, 2006, Starboard may be deemed the
beneficial owner of 55,809 shares of Common Stock.
Percentage: Approximately 0.80% 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: 55,809
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
55,809
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-5 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-5.
(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 31, 2006, Parche may be deemed the beneficial
owner of 75,829.25 shares of Common Stock.
Percentage: Approximately 1.09% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 75,829.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
75,829.25
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-5 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-5.
(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.
CUSIP No. 38911N107 13D Page 20 of 28 Pages
3. RCG Ambrose
(a) As of July 31, 2006, RCG Ambrose may be deemed the
beneficial owner of 45,167.25 shares of Common Stock.
Percentage: Approximately 0.65% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 45,167.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
45,167.25
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-5 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-5.
(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 31, 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
(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-5 and is incorporated by
reference. RCG Halifax has not entered into transactions
in the Common Stock since the filing of the Original
Statement.
(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.
CUSIP No. 38911N107 13D Page 21 of 28 Pages
5. Ramius Master Fund
(a) As of July 31, 2006, Ramius Master Fund may be deemed
the beneficial owner of 159,829.5 shares of Common
Stock.
Percentage: Approximately 2.30% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 159,829.5
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
159,829.5
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-5 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-5.
(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 31, 2006, Ramius Fund III may be deemed the
beneficial owner of 6,851.25 shares of Common Stock.
Percentage: Approximately 0.10% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 6,851.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
6,851.25
4. Shared power to dispose or direct the disposition: 0
(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-5 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-5.
(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.
CUSIP No. 38911N107 13D Page 22 of 28 Pages
7. Admiral
(a) As of July 31, 2006, Admiral may be deemed the
beneficial owner of 131,638.25 shares of Common Stock.
Percentage: Approximately 1.89% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 131,638.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
131,638.25
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-5), are set forth in
Schedule F-5, 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 31, 2006, Ramius Advisors may be deemed the
beneficial owner of 166,680.75 shares of Common Stock.
Percentage: Approximately 2.40% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 166,680.75
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
166,680.75
4. Shared power to dispose or direct the
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-5), are set forth in Schedule F-5, 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.
CUSIP No. 38911N107 13D Page 23 of 28 Pages
(e) Not applicable.
9. Safe Harbor Master Fund
(a) As of July 31, 2006, Safe Harbor Master Fund may be
deemed the beneficial owner of 188,486.25 shares of
Common Stock.
Percentage: Approximately 2.71% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 188,486.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
188,486.25
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-5 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-5.
(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 31, 2006, Safe Harbor Investment may be
deemed the beneficial owner of 188,486.25 shares of
Common Stock.
Percentage: Approximately 2.71% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 188,486.25
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
188,486.25
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-5),
are set forth in Schedule F-5, 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.
CUSIP No. 38911N107 13D Page 24 of 28 Pages
(e) Not applicable.
11. Ramius Capital
(a) As of July 31, 2006, Ramius Capital may be deemed the
beneficial owner of 576,648.5 shares of Common Stock.
Percentage: Approximately 8.30% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 576,648.5
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
576,648.5
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-5), are set forth in
Schedule F-5, 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 31, 2006, C4S may be deemed the beneficial
owner of 576,648.5 shares of Common Stock.
Percentage: Approximately 8.30% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 576,648.5
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition:
576,648.5
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-5), are set forth in Schedule F-5, and are
incorporated by reference.
CUSIP No. 38911N107 13D Page 25 of 28 Pages
(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 31, 2006, each of Mr. Cohen, Mr. Stark, Mr.
Strauss and Mr. Solomon may be deemed the beneficial
owner of 576,648.5 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 8.30% as of the date hereof.
(b) 1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 576,648.5
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition:
576,648.5
(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-5), are set forth in Schedule F-5, 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.
Upon information and belief, as of the close of business on July 31, 2006,
Moon may be deemed to beneficially own 574,390.25 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 468,419.25 of
which, representing approximately 6.74% of its beneficial ownership, are
owned in the form of ADSs.
CUSIP No. 38911N107 13D Page 26 of 28 Pages
Item 6. Contracts, Arrangements, Understandings or Relationships with
respect to Securities of the Issuer.
Ramius Capital Group L.L.C., and Moon Capital Management LP, on behalf of
the Committee, have retained IRG Limited ("IRG") to provide financial advisory
services to the Committee with respect to the matters described in Item 4. Under
the terms of the engagement, among other things, IRG will assist the Committee
with evaluating various strategies and alternatives with respect to Gravity and
the Ragnarok license and if a transaction results in the sale of Gravity Common
Stock or ADSs, the Committee will pay IRG a fee based upon the sale price of
Gravity Common Stock or ADSs sold by members of the Committee during specified
time periods, although IRG will not be entitled to a fee if the sale price is
below a specified threshold. In addition, the Committee will pay IRG a retainer
fee.
CUSIP No. 38911N107 13D Page 27 of 28 Pages
SCHEDULE F-5
PURCHASES OF COMMON STOCK
Date Price Qua(1)
RCG Ambrose Master Fund, Ltd. 7/18/2006 6.5609 517
7/19/2006 6.7225 1,843
7/20/2006 6.5588 218
7/25/2006 5.4500 143
7/26/2006 6.3467 972
Parche, LLC 7/18/2006 6.5609 977
7/19/2006 6.7225 3,542
7/20/2006 6.5588 448
7/25/2006 6.4500 297
7/26/2006 6.3467 2,026
Ramius Master Fund, Ltd. 7/18/2006 6.5609 1,805
7/19/2006 6.7225 6,431
7/20/2006 6.5588 761
7/25/2006 6.4500 500
7/26/2006 6.3467 3,391
Ramius Fund III, Ltd. 7/18/2006 6.5609 106
7/19/2006 6.7225 376
7/20/2006 6.5588 44
7/25/2006 6.4500 29
7/26/2006 6.3467 198
Safe Harbor Master Fund L.P. 7/18/2006 6.5609 3,958
7/19/2006 6.7225 14,105
7/20/2006 6.5588 1,668
7/25/2006 6.4500 1,096
7/26/2006 6.3467 7,437
Starboard Value and Opportunity
Master Fund Ltd. 7/18/2006 6.5609 1,212
7/19/2006 6.7225 4,316
7/20/2006 6.5588 511
7/25/2006 6.4500 335
7/26/2006 6.3467 2,276
(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 31, 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