General Maritime Corporation
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934

GENERAL MARITIME CORPORATION
(Name of Issuer)

Common Stock, par value $0.01 per share
(Title of Class of Securities)

Y2692M 10 3
(CUSIP Number)

     
Kate Blankenship   With a copy to:
Frontline Ltd.    
Par-La-Ville Place, 4th Floor   Charles K. Ruck, Esq.
14 Par-La-Ville Road   Latham & Watkins LLP
Hamilton HM 08   650 Town Center Drive, 20th Floor
Bermuda   Costa Mesa, CA 92626
(441) 295-6935   (714) 540-1235


(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

December 3, 2004


(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.

*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 14 Pages

 


Table of Contents

SCHEDULE 13D

     
  CUSIP No. Y2692M 10 3
    Page 2 of 14 Pages
     
1.
  NAMES OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
   
  Frontline Ltd.
  I.R.S. Employer Identification No.: Not Applicable.
 
   
2.
  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
   
  (a) [ ]
  (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
 
   
  Bermuda

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

     
7.
  SOLE VOTING POWER:                    None
     
8.
  SHARED VOTING POWER:              1,625,000
     
9.
  SOLE DISPOSITIVE POWER:            None
     
10.
  SHARED DISPOSITIVE POWER:      1,625,000
     
11.
  AGGREGATE AMOUNT BENEFICIALLY
  OWNED BY EACH REPORTING PERSON:      1,625,000
     
12.
  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
  SHARES  [ ]
     
13.
  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.3%
     
14.
  TYPE OF REPORTING PERSON:       CO

2


Table of Contents

SCHEDULE 13D

   
 CUSIP No. Y2692M   10 3
Page 3 of 14 Pages
     
1.
  NAMES OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
     
  Bandama Investment Ltd.
    I.R.S. Employer Identification No.: Not Applicable.
     
2.
  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     
  (a) [ ]
(b) [ ]
     
3.
  SEC USE ONLY
     
4.
  SOURCE OF FUNDS
     
  AF
     
5.
  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) or 2(e)
     
  [ ]
     
6.
  CITIZENSHIP OR PLACE OF ORGANIZATION
     
  Republic of Liberia

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

             
7.
  SOLE VOTING POWER:                       None        
             
             
8.
  SHARED VOTING POWER:                  1,625,000        
             
             
9.
  SOLE DISPOSITIVE POWER:                 None        
             
             
10.
  SHARED DISPOSITIVE POWER:           1,625,000        
             
             
11.
  AGGREGATE AMOUNT BENEFICIALLY        
  OWNED BY EACH REPORTING PERSON:           1,625,000        
             
             
12.
  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN        
    SHARES [ ]        
             
             
13.
  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):  4.3%        
             
             
14.
  TYPE OF REPORTING PERSON:  CO        

3


Table of Contents

SCHEDULE 13D

     
CUSIP No. Y2692M 10 3
  Page 4 of 14 Pages
     
     
     
1.
  NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
     
   
  Hemen Holding Limited
I.R.S. Employer Identification No.: Not Applicable
     
     
2.
  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     
     
  (a) [    ]
(b) [    ]
     
     
3.
  SEC USE ONLY
     
     
4.
  SOURCE OF FUNDS
     
     
  AF
     
     
5.
  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
    ITEMS 2(d) or 2(e)
     
     
  [    ]
     
6.
  CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
  Republic of Cyprus

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

         
7.
  SOLE VOTING POWER:  None    
         
         
8.
  SHARED VOTING POWER:  1,625,000    
         
         
9.
  SOLE DISPOSITIVE POWER:  None    
         
         
10.
  SHARED DISPOSITIVE POWER:  1,625,000    
         
         
11.
  AGGREGATE AMOUNT BENEFICIALLY    
  OWNED BY EACH REPORTING PERSON:  1,625,000    
         
         
12.
  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN    
    SHARES    
         
         
13.
  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):  4.3%    
         
         
14.
  TYPE OF REPORTING PERSON:  CO    

4


Table of Contents

SCHEDULE 13D

     
CUSIP No. Y2692M 10 3
  Page 5 of 14 Pages
     
1.
  NAMES OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
     
     
  John Fredriksen
     
     
2.
  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     
     
  (a) [    ]
(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
     
  Norway

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

         
7.
SOLE VOTING POWER: None    
         
         
8.
SHARED VOTING POWER: 1,625,000    
         
         
9.
SOLE DISPOSITIVE POWER: None    
         
         
10.
SHARED DISPOSITIVE POWER: 1,625,000    
         
         
11.
AGGREGATE AMOUNT BENEFICIALLY 1,625,000    
OWNED BY EACH REPORTING PERSON:      
         
         
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN    
  SHARES  [    ]      
         
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):  4.3%    
         
         
14.
TYPE OF REPORTING PERSON:  IN      

5


TABLE OF CONTENTS

Item 1. Security and Issuer.
Item 2. Identity and Background.
Item 3. Source and Amount of Funds or Other Consideration.
Item 4. Purpose of Transaction.
Item 5. Interest in Securities of the Issuer.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
SIGNATURES
INDEX OF EXHIBITS
EXHIBIT 1.1
EXHIBIT 99.1


Table of Contents

SCHEDULE 13D

     
CUSIP No. Y2692M 10 3
  Page 6 of 14 Pages

Item 1. Security and Issuer.

This statement on Schedule 13D (this “Statement”) relates to the Common Stock, par value $0.01 per share (the “Common Stock”), of General Maritime Corporation, a Marshall Islands corporation (the “Issuer”). The principal executive offices of the Issuer are located at 35 West 56th Street, New York, New York 10019.

Item 2. Identity and Background.

    (a)-(c), (f) This Statement is filed on behalf of:

  (i)   Frontline Ltd., a Bermuda corporation (“Frontline”);
 
  (ii)   Bandama Investment Ltd., a Liberian corporation (“Bandama”), and a wholly-owned subsidiary of Frontline;
 
  (iii)   Hemen Holding Limited, a Cyprus limited company (“Hemen”), the principal shareholder of Frontline; and
 
  (iv)   John Fredriksen, an individual (“Fredriksen”), the ultimate beneficiary of Hemen, and the Chairman, Chief Executive Officer, President and a Director of Frontline.

Frontline, Bandama, Hemen and Fredriksen are collectively referred to as the “Reporting Persons,” and individually, as a “Reporting Person.”

  (i)   The address of Frontline’s principal place of business is Par-La-Ville Place, 4th Floor, 14 Par-La-Ville Road, Hamilton HM 08, Bermuda. The principal business of Frontline is the international seaborne transportation of crude oil, and the operation of the world’s largest modern fleet of VLCC and Suezmax tankers and Suezmax OBO carriers. The name, citizenship, present principal occupation and the name, principal business and address of any corporation or other organization in which such employment is conducted of each executive officer and director of Frontline is set forth below. Unless otherwise indicated, the present principal occupation of each person is with Frontline. If no business address is given, the director’s or executive officer’s address is Par-La-Ville Place, 4th Floor, 14 Par- La-Ville Road, Hamilton HM 08, Bermuda.
         
John Fredriksen
  Chairman, Chief   Mr. Fredriksen is a citizen of Norway.
  Executive Officer,    
  President, Director    
 
       
Tor Olav Trøim
  Vice President, Director   Mr. Trøim is a citizen of Norway.
 
       
Kate Blankenship
  Chief Accounting Officer,   Ms. Blankenship is a citizen of the United Kingdom.
  Secretary, Director    
       

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Table of Contents

SCHEDULE 13D

   
CUSIP No. Y2692M 10 3  
         Page 7 of 14 Pages
         
Tom Erik Jebsen
  Chief Financial Officer   Mr. Jebsen is a citizen of Norway. Frontline Management
  of Frontline Management   AS is a wholly-owned subsidiary of Frontline, and its
  AS   principal business is the commercial management of
      Frontline’s shipowning subsidiaries, including chartering
      and insurance. Frontline Management AS’s principal
      addresses are Bryggegata 3, N-0250 Oslo, Norway and P.O.
      Box 1327 Vika, N-0112 Oslo, Norway.
       
       
       
 
       
Oscar Spieler
  Chief Executive Officer   Mr. Spieler is a citizen of Norway. Frontline Management
  of Frontline Management   AS is a wholly-owned subsidiary of Frontline, and its
  AS   principal business is the commercial management of
      Frontline’s shipowning subsidiaries, including chartering
      and insurance. Frontline Management AS’s principal
      addresses are Bryggegata 3, N-0250 Oslo, Norway and P.O.
      Box 1327 Vika, N-0112 Oslo, Norway.
       

 
(ii)
  The address of Bandama’s principal place of business is Par-la-Ville Place, 14 Par-La-Ville Road, Hamilton HM 08, Bermuda. The address of Bandama’s registered office is 80 Broad Street, Monrovia, Republic of Liberia. The principal business of Bandama is acting as an investment holding company. The name, citizenship, present principal occupation and the name, principal business and address of any corporation or other organization in which such employment is conducted of each executive officer and director of Bandama is set forth below.
         
Tom Erik Jebsen
  President and Director   Mr. Jebsen is a citizen of Norway. Mr. Jebsen also serves
      as Frontline Management AS’s Chief Financial Officer.
 
       
Nicholas Sherriff
  Treasurer and Director   Mr. Sherriff is a citizen of the United Kingdom. Mr.
      Sherriff’s principal occupation is an attorney, and he is
      principally employed by Maritime Recovery Ltd., a legal
      consulting services firm. Maritime Recovery Ltd.’s
      principal business address is P.O. Box 293, London SWII
      6DJ, United Kingdom.
 
       
Kate Blankenship
  Secretary and Director   Ms. Blankenship is a citizen of the United Kingdom. Ms.
       Blankenship also serves as Frontline’s Chief Accounting
      Officer, Secretary and Director.
       

 
(iii)
  The address of Hemen’s principal place of business is c/o Seatankers Management Co. Ltd., P.O. Box 53562, CY3399 Limassol, Cyprus. The principal business of Hemen is investing in shipping organisations. The name, citizenship, present principal occupation and the name, principal business and address of any corporation or other organization in which such employment is conducted of each director of Hemen is set forth below. Hemen does not have any executive officers.

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Table of Contents

SCHEDULE 13D

   
CUSIP No. Y2692M 10 3           
Page 8 of 14 Pages
         
Eva Agathangelou
  Director   Ms. Agathangelou is a citizen of Cyprus. Ms. Agathangelou also serves as
      Manager of Hive Management Services Ltd. (“Hive”). Hive is a
      management services provider, and its address is 229 Makarios Avenue,
      Meliza Court, 7th Floor, Limassol, Cyprus.
 
       
Stelios Savvidis
  Director   Mr. Savvidis is a citizen of Cyprus. Mr. Savvidis’s present principal
      occupation is as a self-employed tax manager and consultant. Mr.
      Savvidis’s present business address is 229 Makarios Avenue, Meliza Court,
      4th Floor, Limassol, Cyprus.
       
       
       
       

 
(iv)
  Fredriksen is a citizen of Norway, and his present principal occupation is serving as Chairman, Chief Executive Officer, President and a Director of Frontline. Fredriksen’s and Frontline’s principal business address is Par-La-Ville Place, 4th Floor, 14 Par-La-Ville Road, Hamilton HM 08, Bermuda. The principal business of Frontline is the international seaborne transportation of crude oil, and the operation of the world’s largest modern fleet of VLCC and Suezmax tankers and Suezmax OBO carriers.

  (d)   None of Frontline, Bandama, Hemen, Fredriksen, nor to the best of their knowledge, any of their respective executive officers or directors is required to disclose legal proceedings pursuant to Item 2(d).
 
  (e)   None of Frontline, Bandama, Hemen, Fredriksen, nor to the best of their knowledge, any of their respective executive officers or directors is required to disclose legal proceedings pursuant to Item 2(e).

Item 3. Source and Amount of Funds or Other Consideration.

     Between October 27, 2004 and December 3, 2004, Bandama acquired 2,451,300 shares of Common Stock through a series of New York Stock Exchange purchases for a total consideration of approximately $100,155,369 (excluding commissions) in cash paid from Frontline’s working capital funds. Between December 6, 2004 and December 10, 2004, Bandama sold an aggregate of 826,300 shares of Common Stock on the New York Stock Exchange.

     Frontline, Hemen and Fredriksen do not own any shares of Common Stock.

Item 4. Purpose of Transaction.

     In the ordinary course of its business, Frontline is engaged in the evaluation of potential candidates for acquisitions and strategic transactions. As part of this evaluation strategy, Frontline has been aware of the Issuer as a candidate for a potential merger or a marketing joint venture by which the companies pool certain types of vessels and Frontline has evaluated certain of the Issuer’s assets for potential acquisition or joint venture partnering over several years. Frontline has raised the possibility of a business combination or joint venture with officers of the Issuer on several occasions and, in June of 2004, an investment bank prepared a relative valuation of Frontline and the Issuer and presented the evaluation to officers of both companies. However, the evaluation did not lead to further discussions between the parties.

     On December 3, 2004, officers of Frontline informed the Issuer that Frontline had acquired in excess of five percent of the outstanding shares of the Issuer and expressed an interest in discussing a possible business combination or joint venture between the two companies. The Issuer refused to engage in discussions or schedule a meeting with Frontline and on December 8, 2004 the Issuer issued a press release that stated:

     “Officers of Frontline Ltd. recently contacted the Company and indicated that they have acquired an unspecified amount of General Maritime’s common stock which would result in a filing by them on schedule 13D. They also expressed an interest in a business combination with the Company; however no offer or proposal has been made. General Maritime is not actively looking to sell the Company or enter into a business combination, but has always been and remains committed to exploring all opportunities that create value for our shareholders.”

     Since December 8, 2004, no other communications have occurred between Frontline and the Issuer, and Frontline has not made any specific offers or proposals to the Issuer regarding a possible business combination or marketing joint venture. However, Frontline may resume discussions with the Issuer at any time regarding a possible business combination or marketing joint venture.

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Table of Contents

SCHEDULE 13D

   
CUSIP No. Y2692M 10 3           
Page 9 of 14 Pages

     The purpose of the Reporting Persons in acquiring the securities of the Issuer indicated in Item 5 below was to obtain an equity position in the Issuer for investment purposes. The Reporting Persons may seek to acquire control of the Issuer although they have neither made any specific proposal nor formulated any specific plan in this regard and, as indicated below, there can be no assurance that any such plan will be developed or as to the terms or the timing of any such plan. Any such plan that may be formulated could involve proposing a business combination or marketing joint venture transaction with the Issuer or making a tender offer for some or all of the Issuer’s shares of Common Stock. The Reporting Persons intend to continue to evaluate the Issuer’s business, financial condition, results of operations, capital structure, management, stock market performance, competitive outlook and other relevant factors. As part of such evaluations, the Reporting Persons may seek the views of, hold discussions with and respond to inquiries from representatives of the Issuer, Issuer’s stockholders and other persons regarding the Issuer’s affairs and potential business combinations or joint ventures. Depending on such evaluations and applicable legal requirements, the Reporting Persons may purchase additional shares of Common Stock, or dispose of any and all shares of Common Stock held by them. Any acquisition or disposition of shares of Common Stock by the Reporting Persons may be effected through open market or privately negotiated transactions, or otherwise. In the interest of maximizing shareholder value, the Reporting Persons may, from time to time, develop plans respecting, or propose changes in the management, policies, operations, capital structure or business of the Issuer. Such plans or proposals may include or relate to one or more of the transactions specified in subparagraphs (a) through (j) of Item 4 of Schedule 13D, including, without limitation, a merger, disposition, sale of the Issuer’s assets or change in the Issuer’s capitalization.

     Except to the extent set forth herein, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the actions required to be described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons retain their respective rights to modify their plans with respect to the transactions described in this Item 4, to acquire or dispose of securities of the Issuer and to formulate plans and proposals which could result in the occurrence of any such events, subject to applicable laws and regulations.

Item 5. Interest in Securities of the Issuer.

     (a) Each of Frontline, Bandama, Hemen and Fredriksen may be deemed to beneficially own 1,625,000 shares of Common Stock, representing approximately 4.3% of the outstanding shares of Common Stock of the Issuer (based upon 37,692,745 shares of Common Stock outstanding as of November 4, 2004 as reported on the Issuer’s Form 10-Q for the period ended September 30, 2004). To the best of Frontline’s, Bandama’s, Hemen’s and Fredriksen’s knowledge, none of the other persons named in response to Item 2 own any securities of the Issuer.

     (b) Frontline, as the corporate parent of Bandama, shares the power to vote, to direct the vote, to dispose and to direct the disposition of the 1,625,000 shares of Common Stock acquired by Bandama. In addition, Hemen, as the principal shareholder of Frontline, and Fredriksen, as the ultimate beneficiary of Hemen, also shares the power to vote, to direct the vote, to dispose and to direct the disposition of the shares of Common Stock acquired by Bandama. None of the other persons named in response to Item 2 have the sole power to vote or to direct the vote, the shared power to vote or direct the

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SCHEDULE 13D

   
CUSIP No. Y2692M 10 3         
  Page 10 of 14 Pages

vote, the sole power to dispose or to direct the disposition of the shares of Common Stock that are the subject of this Statement.

     (c) Schedule A annexed hereto lists all transactions in the shares of Common Stock during the past sixty days by the Reporting Persons. All of such transactions were effected on the New York Stock Exchange by Bandama. None of the other Reporting Persons, and to the best of the Reporting Persons’ knowledge, none of the other persons named in response to Item 2, were involved in any transactions in shares of Common Stock during the past sixty days.

     (d) No other person 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, any of the Issuer’s Common Stock beneficially owned by Frontline, Bandama, Hemen and Fredriksen.

     (e) The Reporting Persons ceased to be the beneficial owners of more than five percent of the Issuer’s Common Stock on December 10, 2004.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

     None of Frontline, Bandama, Hemen or Fredriksen, nor to the best of their knowledge, any of the persons named in response to Item 2, are parties to any contracts, arrangements, understandings or relationships (legal or otherwise) with respect to the Common Stock of the Issuer.

Item 7. Material to be Filed as Exhibits.

     The following is filed herewith as an Exhibit to this Statement:

     
Exhibit 1.1
  A written agreement relating to the filing of the joint acquisition statement as
  required by Rule 13d-1(k) under the Securities Exchange Act of 1934,
  as amended.
Exhibit 99.1
  Press Release dated December 13, 2004.

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SCHEDULE 13D

   
CUSIP No. Y2692M 10 3        
  Page 11 of 14 Pages

SIGNATURES

     After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certify that the information set forth in this Statement is true, complete and correct.

Date: December 13, 2004

         
      FRONTLINE LTD.
         
   
By:
/s/ Kate Blankenship
     
 
      Name: Kate Blankenship
      Title: Director, Chief Accounting Officer and Secretary
 
       
      BANDAMA INVESTMENT LTD.
         
   
By:
/s/ Kate Blankenship
     
 
      Name: Kate Blankenship
      Title: Director and Secretary
 
       
      HEMEN HOLDING LIMITED
         
   
By:
/s/ Eva Agathangelou
     
 
      Name: Eva Agathangelou
      Title: Director
 
       
      JOHN FREDRIKSEN
         
   
By:
/s/ John Fredriksen
     
 
      Name: John Fredriksen

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SCHEDULE 13D

   
CUSIP No. Y2692M 10 3        
 Page 12 of 14 Pages

SCHEDULE A

     During the past sixty days, Bandama made the following purchases of the Issuer’s Common Stock on the dates, in the amounts and for the price per share shown below.

                 
Date of the Purchase
 
Amount of Common
Stock Purchased
 
Price Paid Per Share
 
               
10/27/04
    209,700     $ 38.25  
11/10/04
    594,700     $ 37.86  
11/11/04
    149,100     $ 40.27  
11/12/04
    49,300     $ 40.95  
11/15/04
    169,100     $ 40.45  
11/16/04
    100,000     $ 41.04  
11/17/04
    110,000     $ 41.15  
11/18/04
    100,000     $ 41.72  
11/19/04
    100,000     $ 41.91  
11/22/04
    200,000     $ 43.40  
11/23/04
    25,000     $ 43.57  
11/24/04
    68,000     $ 43.95  
12/3/04
    576,400     $ 43.39  

     During the past sixty days, Bandama sold an aggregate of 826,300 shares of Common Stock on the New York Stock Exchange.

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SCHEDULE 13D

   
CUSIP No. Y2692M 10 3    
     Page 13 of 14 Pages

INDEX OF EXHIBITS

     
Exhibit No.
  Description
 
   
1.1
  A written agreement relating to the filing of the joint acquisition statement as
  required by Rule 13d-1(k) under the Securities Exchange Act of 1934, as
  amended.
99.1
  Press Release dated December 13, 2004.

13