4//SEC Filing
PLATINUM UNDERWRITERS HOLDINGS LTD 4
Accession 0001209191-15-020098
CIK 0001171500operating
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 11:07 AM ET
Size
11.7 KB
Accession
0001209191-15-020098
Insider Transaction Report
Form 4
Megna Edmund R Jr
Director
Transactions
- Disposition to Issuer
Common Shares
2015-03-02$66.00/sh−12,298$811,668→ 0 total - Disposition to Issuer
Share Units
2015-03-02−803→ 0 total→ Common Shares (803 underlying)
Footnotes (4)
- [F1]Disposed of in connection with the Agreement and Plan of Merger ("Merger Agreement") between the Issuer, RenaissanceRe Holdings Ltd. ("RenaissanceRe") and Port Holdings Ltd., dated as of November 23, 2014.
- [F2]Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Common Shares will be cancelled and the holder will receive, per their election, an amount equal to $66.00 in cash per each Common Share, subject to proration.
- [F3]This consideration amount is subject to adjustment due to possible proration calculations provided for in the Merger Agreement. Specifically, the cash election consideration is subject to proration if the un-prorated aggregate share consideration is less than 7,500,000 RenaissanceRe common shares, and the share election consideration is subject to proration if the un-prorated aggregate share consideration is greater than 7,500,000 RenaissanceRe common shares. This proration calculation has not been finalized as of the date of this Form 4 and thus it is not possible to determine the exact amount of consideration to be received by the reporting person as of the date of this Form 4. Once the exact amount of consideration is determined, the reporting person will file an amendment to this Form 4, if necessary.
- [F4]Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Share Units will be cancelled and the holder will receive, per their election, an amount equal to 0.2960 common shares of RenaissanceRe and $35.96 in cash per each Common Share underlying each Share Unit, subject to proration. Fractional RenaissanceRe common shares will be paid in cash.
Issuer
PLATINUM UNDERWRITERS HOLDINGS LTD
CIK 0001171500
Entity typeoperating
IncorporatedBermuda
Related Parties
1- filerCIK 0001171500
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 11:07 AM ET
- Size
- 11.7 KB