Sec Form 13D Filing - Mubbadrah Investment LLC filing for NATIONAL ENERGY SVCS REUNITED (NESR) - 2020-10-21

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

National Energy Services Reunited Corp.

(Name of Issuer)

 

Ordinary Shares, no par value

(Title of Class of Securities)

 

G6375R107

(CUSIP Number)

 

Mubbadrah Investments LLC

Building No. 1/21 Way No. 5001

Near Al Nadha Towers, Ghala,

Muscat, Oman

+968 24390901

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

July 10, 2020

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [  ]

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent.

 

* 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. G6375R10713DPage 2 of 11

 

1

NAME OF REPORTING PERSONS.

 

Mubbadrah Investment LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [  ] (b) [X]*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [  ]

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

12,467,314**

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

12,467,314**

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

12,467,314**

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [  ]

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

14.2%***

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* This Schedule 13D is filed by Mubbadrah Investment LLC (“Mubbadrah”), Wild Investments LLC, formerly Wild Holding LLC (“Wild Investments”), Myrad Investment LLC, formerly Myrad Holding LLC (“Myrad Investment”), Yasser Al Barami (“Mr. Al Barami”) and Hilal Al Busaidi (“Mr. Al Busaidi” and, together with Mubbadrah, Wild Investments, Myrad Investment, and Mr. Al Barami, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13D.
** Consists of 12,467,314 ordinary shares, no par value (“Ordinary Shares”), of National Energy Services Reunited Corp. (the “Issuer”) held by Mubbadrah. Wild Investments and Myrad Investment each own 50% of Mubbadrah. Mr. Al Barami owns 90% of Wild Investments and Mr. Al Busaidi owns 90% of Myrad Investment. By virtue of these relationships, Wild Investments, Myrad Investment, Mr. Al Barami and Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Each of Wild Investments, Myrad Investment, Mr. Al Barami and Mr. Al Busaidi disclaim beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of each of their pecuniary interests therein.
*** The percentage is calculated based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.

 

 
CUSIP No. G6375R10713DPage 3 of 11

 

1

NAME OF REPORTING PERSONS.

 

Wild Investments LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [  ] (b) [X]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [  ]

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

12,467,314*

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

12,467,314*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

12,467,314*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [  ]

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

14.2%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* Consists of 12,467,314 Ordinary Shares held by Mubbadrah. Wild Investments owns 50% of Mubbadrah. By virtue of this relationship, Wild Investments may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Wild Investments disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein.
** The percentage is calculated based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.

 

 
CUSIP No. G6375R10713DPage 4 of 11

 

1

NAME OF REPORTING PERSONS.

 

Myrad Investment LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [  ] (b) [X]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [  ]

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

12,467,314*

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

12,467,314*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

12,467,314*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [  ]

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

14.2%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* Consists of 12,467,314 Ordinary Shares held by Mubbadrah. Myrad Investment owns 50% of Mubbadrah. By virtue of this relationship, Myrad Investment may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Myrad Investment disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein.
** The percentage is calculated based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.

 

 
CUSIP No. G6375R10713DPage 5 of 11

 

1

NAME OF REPORTING PERSONS.

 

Yasser Al Barami

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [  ] (b) [X]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [  ]

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

12,467,314*

9

SOLE DISPOSITIVE POWER

 

802,512*

10

SHARED DISPOSITIVE POWER

 

12,467,314*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

13,269,826*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [  ]

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.2%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

IN

 

* Consists of (i) 12,467,314 Ordinary Shares held by Mubbadrah and (ii) 802,512 Ordinary Shares held by Mr. Al Barami. Mr. Al Barami owns 90% of Wild Investments, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Barami may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Barami disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein.
** The percentage is calculated based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.

 

 
CUSIP No. G6375R10713DPage 6 of 11

 

1

NAME OF REPORTING PERSONS.

 

Hilal Al Busaidi

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [  ] (b) [X]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [  ]

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

12,467,314*

9

SOLE DISPOSITIVE POWER

 

169,009*

10

SHARED DISPOSITIVE POWER

 

12,467,314*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

12,636,323*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [  ]

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

14.4%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

IN

 

* Consists of (i) 12,467,314 Ordinary Shares held by Mubbadrah and (ii) 169,009 Ordinary Shares held by Mr. Al Busaidi. Mr. Al Busaidi owns 90% of Myrad Investment, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Barami disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein.
** The percentage is calculated based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.

 

 
CUSIP No. G6375R10713DPage 7 of 11

 

This Amendment No. 3 (the “Amendment”) amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on September 27, 2018, by Mubbadrah Investments LLC, an Oman limited liability company (“Mubbadrah”), Wild Investments LLC, an Oman limited liability company, formerly Wild Holding LLC (“Wild Investments”), Myrad Investment LLC, an Oman limited liability company, formerly Myrad Holding LLC (“Myrad Investment”), Yasser Al Barami (“Mr. Al Barami”), and Hilal Al Busaidi (“Mr. Al Busaidi” and, together with Mubbadrah, Wild Investments, Myrad Investment, and Mr. Al Barami, the “Reporting Persons”), as amended by the Amendment No. 1 thereto filed with the Commission on October 8, 2019 and the Amendment No. 2 thereto filed with the Commission on June 24, 2020 (such Schedule 13D as amended by Amendment No. 1 and Amendment No. 2 thereof, the “Schedule 13D”). Capitalized terms used but not otherwise defined in this Amendment have the meanings ascribed to such terms in the Schedule 13D. Except as expressly amended and supplemented by this Amendment, the Schedule 13D is not amended or supplemented in any respect, and the disclosures set forth in the Schedule 13D, other than as amended herein are incorporated by reference herein.

 

Item 2. Identity and Background

 

This Schedule 13D is being filed by Mubbadrah Investments LLC, an Oman limited liability company (“Mubbadrah”), Wild Investments LLC, an Oman limited liability company, formerly Wild Holding LLC (“Wild Investments”), Myrad Investment LLC, an Oman limited liability company, formerly Myrad Holding LLC (“Myrad Investment”), Yasser Al Barami (“Mr. Al Barami”), and Hilal Al Busaidi (“Mr. Al Busaidi” and, together with Mubbadrah, Wild Investments, Myrad Investment, and Mr. Al Barami, the “Reporting Persons”).

 

The principal business of Mubbadrah is to invest in businesses and other ventures. The address of the principal office of Mubbadrah is Building No. 1/21 Way No. 5001 Near Al Nadha Towers, Ghala, Musc at, Oman.

 

The principal business of Wild Investments is to invest in businesses and other ventures. The address of the principal office of Wild Investments is P.O. Box 342, 116 Mina Al Fahal, Oman.

 

The principal business of Myrad Investment is to invest in businesses and other ventures. The address of the principal office of Myrad Investment is P.O. Box 342, 133 Al Khuwair, Oman.

 

The business address of Mr. Al Barami is P.O. Box 786, Postal Code 116, Mina Al Fahal, Oman. Mr. Al Barami’s present principal occupation is serving as COO of Mubbadrah. Mr. Al Barami is a citizen of Oman.

 

The business address of Mr. Al Busaidi is P.O. Box 786, Postal Code 116, Mina Al Fahal, Oman. Mr. Al Busaidy’s present principal occupation is serving as CEO of Mubbadrah. Mr. Al Busaidy is a citizen of Oman.

 

During the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3. Source and Amount of Funds or Other Consideration

 

Item 3 is hereby amended and modified to include the following (which shall be in addition to the information previously included in the Schedule 13D):

 

This Amendment reports:

 

(a) the change in the name of Wild Holding LLC to Wild Investments LLC and Myrad Holding LLC to Myrad Investment LLC,

 

 
CUSIP No. G6375R10713DPage 8 of 11

 

(b) the sale by Mubbadrah in open market transactions from August 19, 2020 through September 17, 2020, of 254,534 ordinary shares of the Issuer as described on Schedule A,

 

(c) the sale by Mr. Al Busaidi in open market transactions from August 10, 2020 through September 17, 2020, of 512,690 ordinary shares of the Issuer as described on Schedule B,

 

(d) the purchase by Mr. Al Busaidi in open market transactions of (i) 5,200 ordinary shares of the Issuer at an average price of $7.242 per share on September 4, 2020, and (ii) 1,173 ordinary shares of the Issuer at an average price of $6.682 on September 11, 2020; and   (e) the transfer from Mubbadrah on July 10, 2020, of 1,000,000 ordinary shares of the Issuer to each of Mr. Al Busaidi and Mr. Al Barami.

 

Item 5. Interest in Securities of the Issuer

 

  (a) The information set forth on rows 11 and 13 of the cover pages of this Schedule 13D/A is incorporated by reference. The percentage set forth in row 13 is based upon 87,495,221 outstanding Ordinary Shares, as reported on the Issuer’s Form 6-K, as of June 30, 2020, as filed with the Securities and Exchange Commission on August 6, 2020.
     
  (b) The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D/A is incorporated by reference.

 

  (c) This Amendment reports:

 

(a) the change in the name of Wild Holding LLC to Wild Investments LLC and Myrad Holding LLC to Myrad Investment LLC,

 

(b) the sale by Mubbadrah in open market transactions from August 19, 2020 through September 17, 2020, of 254,534 ordinary shares of the Issuer as described on Schedule A,

 

(c) the sale by Mr. Al Busaidi in open market transactions from August 10, 2020 through September 17, 2020, of 512,690 ordinary shares of the Issuer as described on Schedule B,

 

(d) the purchase by Mr. Al Busaidi in open market transactions of (i) 5,200 ordinary shares of the Issuer at an average price of $7.242 per share on September 4, 2020, and (ii) 1,173 ordinary shares of the Issuer at an average price of $6.682 on September 11, 2020; and   (e) the transfer from Mubbadrah on July 10, 2020, of 1,000,000 ordinary shares of the Issuer to each of Mr. Al Busaidi and Mr. Al Barami.

 

< /tr>
  (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 the proceeds from the sale of, the Ordinary Shares subject to this Schedule 13D/A.
     
  (e) Not applicable.

 

 
CUSIP No. G6375R10713DPage 9 of 11

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 21, 2020

 

  MUBBADRAH INVESTMENT, LLC
     
  By: /s/ Hilal Al Busaidi
  Name: Hilal Al Busaidi
     
  By: /s/ Yasser Al Barami
  Name: Yasser Al Barami
     
  WILD INVESTMENTS LLC
     
  By: /s/ Yasser Al Barami
  Name: Yasser Al Barami
     
  MYRAD INVESTMENT LLC
     
  By: /s/ Hilal Al Busaidi
  Name: Hilal Al Busaidi
     
  By: /s/ Yasser Al Barami
    YASSER AL BARAMI
     
  By: /s/ Hilal Al Busaidi
    HILAL AL BUSAIDI

 

 
CUSIP No. G6375R10713DPage 10 of 11

 

SCHEDULE A

 

Class of Security  Date of Sale  Shares Sold   Average Price Per Share Sold ($) 
Ordinary Shares  8/19/2020   2,325   $8.3000 
Ordinary Shares  8/20/2020   4,109   $8.3000 
Ordinary Shares  8/25/2020   50,000   $8.0200 
Ordinary Shares  9/4/2020   154,457   $7.3911 
Ordinary Shares  9/16/2020   3,433   $7.2000 
Ordinary Shares  9/17/2020   40,210   $7.2007 
   TOTAL   254,534      

 

 
CUSIP No. G6375R10713DPage 11 of 11

 

SCHEDULE B

 

Class of Security  Date of Sale  Shares Sold   Average Price Per Share Sold ($) 
Ordinary Shares  8/10/2020   39,815   $7.6710 
Ordinary Shares  8/11/2020   68,475   $8.2658 
Ordinary Shares  8/12/2020   32,400   $8.3044 
Ordinary Shares  8/17/2020   20,000   $8.5065 
Ordinary Shares  8/18/2020   10,000   $8.2750 
Ordinary Shares  8/21/2020   5,000   $8.0000 
Ordinary Shares  8/24/2020   55,000   $8.0680 
Ordinary Shares  8/25/2020   15,000   $8.1433 
Ordinary Shares  8/26/2020   10,000   $7.6732 
Ordinary Shares  8/27/2020   40,000   $7.1275 
Ordinary Shares  8/28/2020   10,000   $7.2700 
Ordinary Shares  9/1/2020   62,000   $7.5583 
Ordinary Shares  9/2/2020   30,000   $7.5783 
Ordinary Shares  9/3/2020   50,000   $7.7102 
Ordinary Shares  9/16/2020   20,000   $7.0103 
Ordinary Shares  9/17/2020   45,000   $7.1297 
   TOTAL   512,690