CAPITAL Z PARTNERS LP 4
4 · PXRE GROUP LTD · Filed Oct 17, 2005
Insider Transaction Report
Form 4
CAPITAL Z PARTNERS LP
10% Owner
Transactions
- Purchase
Series D Preferred Shares
2005-10-07$1000.00/sh+20,000$20,000,000→ 20,000 total(indirect: _)
Footnotes (3)
- [F1]Series D Perpetual Non-Voting Preferred Shares, par value $1.00 per share ("Series D Preferred Shares"), of PXRE Group, Ltd. (the "Company").
- [F2]Each Series D Preferred Share is exchangeable, without any further payment, for common shares of the Company ("Common Shares") at an exchange ratio equal to a fraction, of which the numerator is 1,000 and the denominator is 11, subject to adjustments for stock splits and stock dividends. The exchange of the Series D Preferred Shares for Commons Shares is conditioned on approval by the Company's shareholders and accordingly there is no fixed date for such exchange.
- [F3]Includes 18,894 Series D Preferred Shares held by CapZ PXRE Holdings, LLC and 106 Series D Preferred Shares held by CapZ PXRE Holdings Private, LLC. Reporting Person has indirect control of CapZ PXRE Holdings LLC and CapZ PXRE Holdings Private, LLC. Each Reporting Person disclaims beneficial ownership of the reported Common Shares except to the extent of its pecuniary interest therein, and the inclusion of such Common Shares in this report shall not be deemed an admission of beneficial ownership of such reported Common Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.