SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )
Audiocodes, Ltd.
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(Name of Issuer)
Ordinary Shares, NIS 0.01 per share
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(Title of Class of Securities)
M15342104
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(CUSIP Number)
May 28, 2008
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(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)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
CUSIP No. M15342104
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rima Management, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
2,382,113
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
2,382,113
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,382,113
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.62%
12. TYPE OF REPORTING PERSON*
00
CUSIP No. M15342104
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard Mashaal
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
2,382,113
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
2,382,113
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,382,113
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.62%
12. TYPE OF REPORTING PERSON*
IN
CUSIP No. M15342104
---------------------
Item 1(a). Name of Issuer:
Audiocodes, Ltd.
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Item 1(b). Address of Issuer's Principal Executive Offices:
1 Hayarden Street
Airport City, Lod
70151
Israel
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Item 2(a). Name of Person Filing:
Rima Management, LLC
Richard Mashaal
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Item 2(b). Address of Principal Business Office, or if None, Residence:
110 East 55th Street
Suite 1600
New York, New York 10022
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Item 2(c). Citizenship:
Rima Management, LLC - Delaware
Richard Mashaal - Canada
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Item 2(d). Title of Class of Securities:
Ordinary Shares, NIS 0.01 per share
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Item 2(e). CUSIP Number:
M15342104
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 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;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Rima Management, LLC - 2,382,113
Richard Mashaal - 2,382,113
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(b) Percent of class:
Rima Management, LLC - 5.62%
Richard Mashaal - 5.62%
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(c) Number of shares as to which such person has:
Rima Management, LLC:
(i) Sole power to vote or to direct the vote 0
------------,
(ii) Shared power to vote or to direct the vote 2,382,113
------------,
(iii) Sole power to dispose or to direct the
disposition of 0
------------,
(iv) Shared power to dispose or to direct the
disposition of 2,382,113
------------.
Richard Mashaal:
(i) Sole power to vote or to direct the vote 0
------------,
(ii) Shared power to vote or to direct the vote 2,382,113
------------,
(iii) Sole power to dispose or to direct the
disposition of 0
------------,
(iv) Shared power to dispose or to direct the
disposition of 2,382,113
------------.
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 [ ].
Not applicable
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any 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, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
Not applicable
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
Not applicable
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to s.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to s.240.13d-1(c) or s.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
Not applicable
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
Not applicable
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Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having such purpose or effect.
SIGNATURE
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.
May 30, 2008
----------------------------------------
(Date)
RIMA MANAGEMENT, LLC*
By: /s/ George Malikotsis
-----------------------
George Malikotsis
Vice President
RICHARD MASHAAL*
By: /s/ Richard Mashaal
-----------------------
(signature)
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
for whom copies are to be sent.
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
* The Reporting Persons disclaim beneficial ownership in the Shares reported
herein except to the extent of their pecuniary interest therein.
Exhibit A
AGREEMENT
Each of the undersigned hereby consents and agrees to this joint filing on
Schedule 13G for the Ordinary Shares of Audiocodes, Ltd.
Dated: May 30, 2008
RIMA MANAGEMENT, LLC
By: /s/ George Malikotsis
-----------------------
George Malikotsis
Vice President
RICHARD MASHAAL
By: /s/ Richard Mashaal
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(signature)
SK 01780 0001 879323