UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 4)
Under the Securities Exchange Act of 1934
ERESEARCH TECHNOLOGY, INC.
-----------------
(Name of Issuer)
Common Stock
-----------------------------
(Title of Class of Securities)
29481V108
---------
(CUSIP Number)
Gregory D. Hitchan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 2007
--------------
(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 Section 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).
Page 1 of 15
CUSIP NO. 29481V108 SCHEDULE 13D Page 2 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
------------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 3 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 4 of 15
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP II, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3395150
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 5 of 15
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 04-3809436
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 6 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 02-0742606
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 7 of 15
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1. NAME OF REPORTING PERSON SADDLEPOINT PARTNERS GP, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 83-0424234
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
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
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 7,428,769**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 7,428,769**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,769**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.7%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 8 of 15
Item 1. Security and Issuer
----------------------------
This Amendment No. 4 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on August
22, 2005 by Blum Capital Partners, L.P., a California limited partnership
("Blum LP"); Richard C. Blum & Associates, Inc., a California corporation
("RCBA Inc."); Blum Strategic GP II, L.L.C., a Delaware limited liability
company ("Blum GP II")."); Blum Strategic GP III, L.L.C., a Delaware limited
liability company ("Blum GP III"); and Blum Strategic GP III, L.P., a Delaware
limited partnership ("Blum GP III LP") (collectively, the "Reporting
Persons").
This amendment relates to shares of common stock, $.01 par value (the "Common
Stock") of eResearch Technology, Inc., a Delaware corporation (the "Issuer").
The principal executive office and mailing address of the Issuer is 30 South
17th Street, Philadelphia, Pennsylvania 19103.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the Schedule 13D.
Item 2. Identity and Background
---------------------------------
Item 2 of the Schedule 13D is hereby amended and restated in its entirety with
the following:
Blum LP is a California limited partnership whose principal business is
acting as general partner for investment partnerships and providing
investment advisory services. Blum LP is an investment advisor registered
with the Securities and Exchange Commission. The sole general partner of
Blum LP is RCBA Inc.
The principal business office address of Blum LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the executive officers and directors of RCBA Inc., their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizenship Principal Occupation
Office Held Address or Employment
-------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President, Suite 400 Blum LP
Chairman & Director San Francisco, CA 94133
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 9 of 15
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- -------- --------------------
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Partner Suite 400 Norway Blum LP
& Director San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Partner, Chief Suite 400 Operating Officer,
Operating Officer, San Francisco, CA 94133 General Counsel and
General Counsel and Secretary, Blum LP
Secretary
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Partner, Chief Suite 400 Financial Officer,
Financial Officer, San Francisco, CA 94133 Blum LP
Assistant Secretary
& Director
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 10 of 15
Blum GP II is a Delaware limited liability company whose principal business
is acting as the sole general partner of Blum Strategic II and also as
managing limited partner of Blum Strategic Partners II GmbH & Co. KG.( "Blum
Strategic II KG").
The principal business office address of Blum GP II is 909 Montgomery Street,
Suite 400, San Francisco, CA 94133. The names of the managing members and
members of Blum GP II, their addresses, citizenship and principal occupations
are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Member Suite 400 Norway Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Managing Member Suite 400 Operating Officer,
San Francisco, CA 94133 General Counsel &
Secretary, Blum LP
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Managing Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 11 of 15
Blum GP III is a Delaware limited liability company whose principal business
is acting as the general partner of Blum GP III LP, a Delaware limited
partnership, whose principal business is acting as the general partner of
Blum Strategic III, whose principal office is 909 Montgomery Street, Suite
400, San Francisco, California 94133.
The principal business office address of Blum GP III and Blum GP III LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP III, their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Member Suite 400 Norway Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Managing Member Suite 400 Operating Officer,
San Francisco, CA 94133 General Counsel and
Secretary, Blum LP
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 12 of 15
Saddlepoint GP is a Delaware limited liability company whose principal
business is acting as the general partner of Saddlepoint Partners, L.P.,
a Delaware limited partnership ("Saddlepoint LP"), and Saddlepoint Partners
(Cayman), L.P., a Cayman Islands exempted limited partnership ("Saddlepoint
(Cayman) LP"). The principal business office address of Saddlepoint GP,
Saddlepoint LP and Saddlepoint (Cayman) LP is 909 Montgomery Street, Suite
400, San Francisco, California 94133. Blum LP is the managing member of
Saddlepoint GP. RCBA Inc. is the sole general partner of Blum LP. The
principal business office for Blum LP and RCBA Inc. and the names of the
executive officers and directors of RCBA Inc. and their addresses,
citizenship and principal occupations are disclosed above.
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor 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 Considerations
------------------------------------------------------------
Item 3 is hereby amended and restated in its entirety with the following:
The source of funds for the purchases of securities was the working capital
of Blum LP's limited partnerships and investment advisory clients, the
partnership for which Blum GP II LP serves as the sole general partner, the
partnership for which Blum GP III LP serves as the sole general partner, and
the partnerships for which Saddlepoint GP serves as the general partner.
Item 4. Purpose of Transaction
-------------------------------
There have been no changes to Item 3 since the Schedule 13D Amendment
filed on May 6, 2005.
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 13 of 15
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's Form 10-Q filed with the Securities and
Exchange Commission on November 5, 2007, there were 50,615,672 shares of
Common Stock issued and outstanding as of October 26, 2007. Based on such
information, the Reporting Persons report beneficial ownership of the
following shares of Common Stock: (i) 4,256,551 shares of Common Stock held by
Blum L.P. and RCBA Inc. on behalf of the limited partnerships for which Blum
L.P. serves as the general partner, which represents 8.4% of the outstanding
shares of the Common Stock; (ii) 1,672,900 shares of the Common Stock held by
Blum GP II on behalf of the limited partnership for which it serves as the
general partner and on behalf of the limited partnership for which it serves
as the managing limited partner, which represents 3.3% of the outstanding
shares of the Common Stock; (iii) 1,121,318 shares of the Common Stock held by
Blum GP III which serves as general partner of Blum GP III LP which, in turn,
serves as the general partner of Blum Strategic III, which represents 2.2% of
the outstanding shares of the Common Stock; (iv) 22,600 shares of the Common
Stock held by Saddlepoint GP on behalf of a partnership for which it serves as
the general partner, which represents less than 0.1% of the outstanding shares
of the Common Stock; and (v) 177,700 shares of the Common Stock that are
legally owned by The Nuclear Decommissioning Trust of Dominion Nuclear
Connecticut, Inc. ("Dominion Connecticut"), which represents 0.4% of the
outstanding shares of the Common Stock and 177,700 shares of the
Common Stock that are legally owned by Virginia Electric and Power Company
Qualified Nuclear Decommissioning Trust ("Virginia Electric"), which
represents 0.4% of the outstanding shares of the Common Stock, (collectively,
the "Investment Advisory Clients"), with respect to which Blum L.P. has voting
and investment power. Each Investment Advisory Client has entered into an
investment management agreement with Blum L.P., but neither Investment
Advisory Client has any contract, arrangement or understanding with the other
Investment Advisory Client, or any other Reporting Person, with respect to the
acquisition, ownership, disposition or voting of any shares of the Common
Stock. Each Investment Advisory Client disclaims membership in a group with
any Reporting Person or with the other Investment Advisory Client, and each
disclaims beneficial ownership of any shares beneficially owned by the
Reporting Persons other than for their own account.
Voting and investment power concerning the above shares are held solely by
Blum L.P., Blum GP II and Blum GP III. The Reporting Persons therefore may be
deemed to be members in a group, in which case the group would be deemed to
have beneficial ownership of an aggregate of 7,428,769 shares of the Common
Stock, which is 14.7% of the outstanding Common Stock. As the sole general
partner of Blum L.P., RCBA Inc. is deemed the beneficial owner of the
securities over which Blum L.P. has voting and investment power. The filing
of this Schedule shall not be construed as an admission that any of the
officers, managing members and members of Blum L.P., Blum GP II, Blum GP III
LP and Blum GP III, is, for any purpose, the beneficial owner of any of the
securities that are beneficially owned by Blum L.P., Blum GP II, Blum GP III
LP or Blum GP III.
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 14 of 15
(c) On December 31, 2007, the Reporting Persons distributed 1,100,467 shares
of Common Stock to limited partners in two of the limited partnerships for
which Blum LP serves as the general partner and transferred 5,676 shares of
Common Stock to Blum LP.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
----------------------------------------------------------------------
There have been no changes to Item 6 since the Schedule 13D Amendment
filed on August 22, 2005.
Item 7. Material to be Filed as Exhibits
-----------------------------------------
Exhibit A - Joint Filing Undertaking
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 15 of 15
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: January 3, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP II, L.L.C. BLUM STRATEGIC GP III, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC GP III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.L.C. By: Blum Capital Partners, L.P.
its General Partner its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary
* * * * * *
CUSIP NO. 29481V108 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: January 3, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP II, L.L.C. BLUM STRATEGIC GP III, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC GP III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.L.C. By: Blum Capital Partners, L.P.
its General Partner its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Partner, Chief Operating Officer,
General Counsel and Secretary