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i don't understand all this mistery about a thing
that was released for years and know silent!!!!
kisses
Eva
On April 18, 2003, the Board of Directors of Trenwick, in accordance with the Rights Agreement, as amended by the First Amendment, adopted a resolution excluding European Re from the definition of Acquiring Person under the Rights Agreement (the "Exclusion"). The Exclusion only applies to the Beneficial Ownership (as defined in the Rights Agreement) resulting from the right of conversion under the Series B Shares that arises upon the occurrence of a Net Worth Conversion Event on April 21, 2003, and does not by its terms apply with respect to any Common Shares acquired by European Re upon exercise of such rights of conversion. In addition, the Exclusion will no longer apply (i) following the date which is 10 days after the date on which European Re provides notice to Trenwick of a Proposed Conversion Date (as defined in the Rights Agreement) or (ii) if European Re becomes the Beneficial Owner of any additional Common Shares.
LASALLE RE HOLDINGS LTD - 10-Q Quarterly Report - 03/31/2003
The Series B Shares are convertible into common shares of Trenwick after five
years or upon the occurrence of certain "special conversion events" or the
failure of Trenwick to maintain certain levels of capital. On February 20, 2003,
Trenwick delivered a notice to European Re that Trenwick's GAAP Net Worth (as
defined in the Certificate of Designation, Preferences and Rights (the
"Certificate of Designation") of the Series B Shares) had fallen below $225
million. Trenwick's GAAP Net Worth did not equal or exceed $225 million during
the period from February 20, 2003 through April 21, 2003 (which is 60 days after
the date of notice). As a result, a Net Worth Conversion Event (as defined in
the Certificate of Designation) occurred on April 21, 2003, and the Series B
Shares are now convertible at the option of European Re into Trenwick common
shares upon no less than 60 trading days advance notice to Trenwick. European Re
has not delivered to Trenwick such a notice of conversion. As of December 31,
2002, the Series B Shares would be settled upon conversion with approximately
12.2 million common shares, or 33% of Trenwick's common shares, based on the
year end figures for 2002. Trenwick has recently been notified by European Re
that European Re believes Trenwick's calculation of the number of common shares
to be received upon conversion of the Series B Preferred Shares is erroneous and
that under European Re's interpretation of the documentation the Series B
Preferred Shares would have been entitled to convert into approximately 48.1
million shares, or 56.6% of the common shares, based on the year end figures for
2002. Trenwick believes its calculation is correct but intends to discuss this
issue with European Re. If European Re converts its Series B Preferred Shares,
there would be substantial dilution to the holders of the common shares, and
this conversion could result in European Re obtaining control of Trenwick, and
therefore the Company, subject to compliance with applicable insurance law and
regulation.
HAMILTON, Bermuda--(BUSINESS WIRE)--Sept. 6, 2002
Trenwick Group Ltd. (NYSE: TWK)("Trenwick") today announced that European Reinsurance Company of Zurich, a subsidiary of Swiss Reinsurance Company, purchased 550,000 of Trenwick's Series B Cumulative Convertible Perpetual Preferred Shares with a liquidation preference of $100 per share for an aggregate purchase price of $40 million.
The purchase was made pursuant to a Second Amended and Restated Catastrophe Equity Securities Issuance Option Agreement between European Re and Trenwick. Concurrently with the purchase of the preferred shares Trenwick and European Re agreed to terminate the pending arbitration proceedings, increase the dividend rate applicable to the preferred shares by 2.0% and reduce the restrictions on European Re's ability to transfer the preferred shares from three years to six months. The preferred shares are convertible after five years into Trenwick's common shares at the higher of Trenwick's book value or common share market value at the time of conversion.
can you ask European Re?
kisses
Eva
i'm in from the 2002
and waiting again
hope someday that someone up in the sky look at me!
kisses
Eva
dont'be so negative!
be happy!
kisses
Eva
do you have a link?
ehy life...
tell me about our right of vote like shareholders
over the decisions on the sub's!!!
is yet alive?
yeah Scorp thanks
and..............kisses!
Eva
also at $2 they made a very good deal,
with 500% of gain!
i remember they made a tender offer at $1 for 1.5M shares!
but don't work!
All of this is just a nightmare!!!!
We shareholders own the 100% of all of our sub's
and we can't know anithing about our company!!
Morrison and the gang know everything
and they are not the owners!!
At this point and at this price we can buy all together
the 51% of the TWKGQ shares and vote to merge with LSRH
or dissolve it, so the money in the end can flow to us!
)
i hope that some good lawman, look into the documents
and in all steps made by the JPl's
to preserve TGL interest!
Canopius is in the Agent Hands (ex Trenwick Group), if you look this company is like a mirror of the old TGL with his sub's (they steal all of the sugar cake), that are the same of ex TWK sub's
Canopius has also office in Bermuda with Canopis Bermuda Holding, very near that "la ville road"
Canopius buy all the LSUK interest and also all the Oaks
interests, LSUK is 100% of LSRE that is 100% of LSRH
that is our sub, where he ask shareholders to vote for this?
Eva
PS GM all and kisses!
the LSRH Preferred are 3M
they are the more lucky here!
Who own that shares?
did TWKGQ own some preferred?
GM all,
have a nice day and a happy gain with TWK!!!
kisses
Eva
ah
ok don't know this
so we close at 1 pm!
but now is not AH market!
but is right or my pc is wrong?
ask is at 0.9?
kisses
Eva
gm all!
and kisses for TWKER'S
Eva
in pinksheets.com in the sec documents, go to the start of lasalle re sec doc is one of the first
lifegear, can you read this?
Section 4.5. Absence of Certain Changes or Events. Except in connection with this Agreement, the Plans, the Stock Option Agreements and the
transactions contemplated hereby and thereby, as disclosed in the LaSalle SEC Reports filed and publicly available prior to the date of this
Agreement (the "Filed LaSalle SEC Reports") since the date of the most recent audited financial statements included in the Filed LaSalle SEC
Reports, LaSalle Holdings and its Subsidiaries have conducted their business in the ordinary course consistent with past practice, and there has
not occurred (i) any event or change having individually or in the aggregate a Material Adverse Effect on LaSalle Holdings, (ii) any
declaration, setting aside or payment of any dividend or other distribution (whether in cash, stock or property) with respect to any of LaSalle
Holdings's outstanding capital stock, other than regular quarterly dividends in an amount payable in cash not in excess of $1.0938 per Series A
Preferred Share and quarterly dividends in an amount payable in cash not in excess of $0.375 per LaSalle Holdings Share, Voting Share and
Non Non-Voting Share and dividends paid by wholly owned Subsidiaries, (iii) (A) any granting by LaSalle Holdings or any of its Subsidiaries to
-any current or former director or officer of LaSalle Holdings or its Subsidiaries of any increase in compensation, bonus or other benefits, except
for normal increases in the ordinary course of business, (B) any granting by LaSalle Holdings or any of its Subsidiaries to any such current or
former director or officer of any increase in severance or termination pay or
(C) any entry by LaSalle Holdings or any of its Subsidiaries into, or any amendments of, any employment, deferred compensation, consulting,
severance, termination or indemnification agreement with any such current or former director or officer, (iv) any tax election that individually
or in the aggregate would have a Material Adverse Effect on LaSalle Holdings or any of its tax attributes or any settlement or compromise of
any material income tax liability, or (v) any change in accounting methods, principles or practices by LaSalle Holdings or any of its
Subsidiaries materially affecting their assets, liabilities or business, except insofar as may have been required or permitted by a change in
applicable accounting principles (including SAP).
i have send to you other documents!
good read!
GIVE ME A FEEDBACK ABOUT ALL THE DOCUMENTS!
PS I AM VERY AMZING THAT AFTER ALL THIS PAPERS, MORRISON JUST RELEASE FEW FEW INFORMATIONS,
I LOOK FOR MANY OTHER INFORMATIONS FROM MORRISON
HE CAN NOT LIQUIDATE US JUST IN FEW WORD!
HOPE HE READ THE BOARD.......
KISSES
EVA
lifegear
you have mail
uff!
i remember that period,
and a lot of people here remember with me.......
how many days lost in front of my pc
posting and reading a lot of message on YB....
seems to me to come back in 2003!!
and they learn the lesson?
ah ah ah
preferred has to take another $15
TWKGQ has 100% of LSRH
LSRH has 100% of LSRLTD and there....... is our money
my money from 7 years locked there!!
they give a gift to Watson and the band!
cruel!
0.01 now, they play with us and with weak that sell!
do you buy the turkey for the TDay?
what you think about my theory of the slow collect of shares
and buy what left with a big offer but only for few shares
because they collect all ?
i think so!
or to his pard A. Hunte!
the slave of the thief!
think to ask a turkey to mr. Becker
the king of thiefs!
price tell us that the few assets to liquidate are worth
$500K??
i don't think!
so you must realize that this is a slow collect
of shares
kisses
Eva
PS i don't have turkey to eat!
Dear Lifeagear,
just some for talk about..........
with an o/s number of 36.7M
they and "the friends", with the help of the MM's are buying a lot of shares at this price, so they are able to have the right vote on LSRH
and after made a fake offer to the o/s shares of TWKGQ, they only pay for the shares that don't collect!
imagine that the inventory of MBO maybe about 26/27M of shares
now, they can only spend few money for the rest of the 12M or minus shares and take all basket slowly and at this cheap price!
At this point 8K is not important, 8K give us nothing of interest, Morrison i think come near the end with not a lot of money for us, the important is that we have the right vote on LSRH and after on LSRL, this is the center of all, and the game is played here!!!!
Look at Watson he is the guy that steal all of our money from TWK and LSRH years ago, and now he want all the basket at Canopius for him, our enemy!!! Watson...........beware!
Eva