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Forbes Energy Services Ltd. (FES): Warren Lichtenstein Begins Trimming Position

Warren Lichtenstein‘s Steel Partners has filed a 13D on Forbes Energy Services Ltd. (NASDAQ:FES). The filing shows that Mr. Lichtenstein’s firm now owns 3.27 million shares of the company, down from 3.55 million shares owned in early February and 3.65 million shares owned at the end of 2015. Forbes Energy was one of Steel Partners’ smallest holdings at the end of 2015, accounting for just 0.20% of its highly concentrated public equity portfolio.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
STEEL EXCEL INC 3,271,518 3,271,518 3,271,518 14.7%
STEEL PARTNERS HOLDINGS 3,271,518 3,271,518 3,271,518 14.7%
SPH GROUP 3,271,518 3,271,518 3,271,518 14.7%
SPH GROUP HOLDINGS 3,271,518 3,271,518 3,271,518 14.7%
STEEL PARTNERS HOLDINGS GP INC 3,271,518 3,271,518 3,271,518 14.7%
Warren Lichtenstein
Warren Lichtenstein
Steel Partners

Page 1 of 10 SEC Filing



Washington, D.C. 20549



(Rule 13d-101)




§ 240.13d-2(a)


(Amendment No. 5)1


Forbes Energy Services Ltd.

(Name of Issuer)


Common Stock, par value $0.04

(Title of Class of Securities)


(CUSIP Number)


Warren G. Lichtenstein

Steel Partners Holdings L.P.

590 Madison Avenue, 32nd Floor

New York, New York 10022

(212) 520-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)


March 4, 2016

(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 §§ 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 § 240.13d-7 for other parties to whom copies are to be sent.




1              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).


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