================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________
SCHEDULE 13G
________________
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
SAIFUN SEMICONDUCTORS LTD.
--------------------------------------------------------------------------------
(NAME OF ISSUER)
ORDINARY SHARES
--------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
M8233P102
--------------------------------------------------------------------------------
(CUSIP NUMBER)
DECEMBER 31, 2006
--------------------------------------------------------------------------------
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[_] RULE 13d-1(b)
[_] RULE 13d-1(c)
[X] RULE 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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. M8233P102 SCHEDULE 13G Page 2 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel II Parallel Fund Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 3 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel II Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 4 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Advent PGGM Gemini Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 5 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Partners Investors L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 6 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel III Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 7 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel III Overflow Fund Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 8 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel III Parallel Fund Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ==================
CUSIP No. M8233P102 SCHEDULE 13G Page 9 of 20 Pages
=================== ==================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Capital Associates Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 10 of 20 Pages
=================== ===================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Capital Associates III Limited Partnership
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 11 of 20 Pages
=================== ===================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Gemini Israel Funds Ltd.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 12 of 20 Pages
=================== ===================
================================================================================
1 NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
Yossi Sela
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 13 of 20 Pages
=================== ===================
ITEM 1.
(a) Name of Issuer:
Saifun Semiconductors Ltd.
(b) Address of Issuer's Principal Executive Offices:
ELROD Building, 45 Hamelacha St., Sappir Industrial Park,
Netanya 42504 Israel
ITEM 2.
(a) Name of Person Filing:
(1) Gemini Israel II Parallel Fund Limited Partnership ("GIPF");
(2) Gemini Israel II Limited Partnership ("GI2");
(3) Advent PGGM Gemini Limited Partnership ("Advent");
(4) Gemini Partners Investors L.P. ("GPI");
(5) Gemini Israel III Limited Partnership ("GI3"); and
(6) Gemini Israel III Overflow Fund Limited Partnership
("Overflow").; and
(7) Gemini Israel III Parallel Limited Partnership ("Parallel");
and
(8) Gemini Capital Associates Limited Partnership ("GPLP1"); and
(9) Gemini Capital Associates III Limited Partnership ("GPLP2");
and
(10) Gemini Israel Funds Ltd. ("GPGP"); and
(11) Yossi Sela ("Sela")
The entities and persons named in this paragraph are referred to
individually herein as a "Reporting Person" and collectively as the
"Reporting Persons."
(b) Address of Principal Business Office or, if none, Residence:
The address of the principal business office of each of GIPF, GI2,
Advent, GPI, GI3, Overflow, Parallel, GPLP1, GPLP2, GPGP and Sela
is: 9 Hamenofim Street, Herzliya Pituach 46725 Israel
(c) Citizenship:
GIPF, Advent, GI3, Overflow, GPLP1 and GPLP2 and are limited
partnerships organized under the laws of the State of Delaware.
GI2, GPI and Parallel are limited partnerships organized under the
laws of the Country of Israel. Sela is an Israeli citizen.
(d) Title of Class of Securities: Ordinary Shares
(e) CUSIP Number: M8233P102
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
NOT APPLICABLE
(a) |_| Broker or dealer registered under section 15 of the Act
(b) |_| Bank as defined in section 3(a)(6) of the Act
(c) |_| Insurance company as defined in section 3(a)(19) of the Act
(d) |_| Investment company registered under section 8 of the Investment
Company Act of 1940
(e) |_| An investment adviser in accordance with
ss.240.13d-1(b)(1(ii)(E)
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 14 of 20 Pages
=================== ===================
(f) |_| An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F)
(g) |_| A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G)
(h) |_| A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act
(i) |_| A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940
(j) |_| Group, in accordance with ss.240.13d-1(b)-1(ii)(J)
ITEM 4. OWNERSHIP
N/A
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following |X|.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable. The Reporting Persons expressly disclaim membership in
a "group" as defined in Rule 13d-1(b)(ii)(j).
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
N/A
ITEM 10. CERTIFICATION
N/A
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 15 of 20 Pages
=================== ===================
SIGNATURE
---------
After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information set forth in this statement is
true, complete and correct. We also hereby agree to file this statement jointly
pursuant to the Agreement listed on Exhibit 1 hereto.
Date: February 1, 2007
GEMINI ISRAEL II PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL II LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
ADVENT PGGM GEMINI LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI PARTNERS INVESTORS L.P.
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL III LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 16 of 20 Pages
=================== ===================
GEMINI ISRAEL III OVERFLOW FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL III PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL FUNDS LTD.
By: *
-----------------------------------
* The undersigned attorney-in-fact, by signing his name below, does hereby sign
this statement on behalf of the above indicated filers pursuant to the Power of
Attorney previously filed with the Securities and Exchange Commission on
February 9, 2006 and attached hereto as Exhibit 2.
/s/ Yossi Sela
------------------------
Yossi Sela
Individually and as Attorney-in-Fact
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 17 of 20 Pages
=================== ===================
EXHIBIT 1
---------
AGREEMENT
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of Ordinary Shares of Saifun Semiconductors Ltd.
EXECUTED this 1st day of February, 2007.
GEMINI ISRAEL II PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL II LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
ADVENT PGGM GEMINI LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI PARTNERS INVESTORS L.P.
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL III LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 18 of 20 Pages
=================== ===================
GEMINI ISRAEL III OVERFLOW FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL III PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: *
-----------------------------------
GEMINI ISRAEL FUNDS LTD.
By: *
-----------------------------------
*By: /s/ Yossi Sela
---------------------------------------
Yossi Sela
Individually and as Attorney-in-Fact
This Schedule 13G was executed by Yossi Sela on behalf of the above indicated
filers pursuant to a Power of Attorney which was previously filed with the
Securities and Exchange Commission on February 9, 2006 and said Power of
Attorney is incorporated herein by reference, a copy of which is attached hereto
as Exhibit 2.
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 19 of 20 Pages
=================== ===================
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Yossi Sella and David Cohen, and
each of them with full power to act without the other, his true and lawful
attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as general partner of any partnership, pursuant to section 13 or 16 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 9th day of
February, 2006.
GEMINI ISRAEL II PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI ISRAEL II LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
ADVENT PGGM GEMINI LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI PARTNERS INVESTORS L.P.
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI ISRAEL III LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
=================== ===================
CUSIP No. M8233P102 SCHEDULE 13G Page 20 of 20 Pages
=================== ===================
GEMINI ISRAEL III OVERFLOW FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI ISRAEL III PARALLEL FUND LIMITED PARTNERSHIP
By: GEMINI CAPITAL ASSOCIATES III LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI CAPITAL ASSOCIATES, LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
-----------------------------------
GEMINI CAPITAL ASSOCIATES III, LIMITED PARTNERSHIP
By: GEMINI ISRAEL FUNDS LTD., its general partner
By: /s/ Yossi Sela
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GEMINI ISRAEL FUNDS LTD.
By: /s/ Yossi Sela
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