PLATINUM UNDERWRITERS HOLDINGS LTD 4/A
4/A · PLATINUM UNDERWRITERS HOLDINGS LTD · Filed Mar 20, 2015
Insider Transaction Report
Form 4/AAmended
Hass A John
Director
Transactions
- Disposition to Issuer
Common Shares
2015-03-02−14,827→ 0 total
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 were cancelled and the holder received, per his election, an amount equal to $66.00 in cash per each Common Share with respect to 14,077 of his Common Shares and an amount equal to $35.96 in cash and 0.2960 common shares of RenaissanceRe per each Common Share with respect to 750 of his Common Shares.
- [F3]This consideration amount was subject to adjustment due to possible proration calculations provided for in the Merger Agreement. Specifically, the cash election consideration was subject to proration if the un-prorated aggregate share consideration was less than 7,500,000 RenaissanceRe common shares, and the share election consideration was subject to proration if the un-prorated aggregate share consideration is greater than 7,500,000 RenaissanceRe common shares. This proration calculation has been finalized as of the date of this Form 4 and only the share election consideration was prorated.
- [F4]To gain access to the filing system, this line item is being re-reported only to amend footnotes 2 and 3 to state the exact amount of consideration received by the reporting person.