SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) - March 20, 2003
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TRENWICK AMERICA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-31967 06-1087672
(State or other jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
One Canterbury Green 06901
Stamford, Connecticut (Zip Code)
(Address of principal executive offices)
(203) 353-5500
(Registrant's telephone number,
including area code)
None
(Former name or address, if changed since last report)
Item 5. Other Events.
On March 20, 2003, the New York Stock Exchange issued a press release
announcing that the common shares of Trenwick Group Ltd. ("Trenwick") and the
Series A Perpetual Preferred Shares of LaSalle Re Holdings Ltd. ("LaSalle Re
Holdings") would be delisted prior to the opening of the market on Tuesday,
March 25, 2003 or such earlier date as (i) Trenwick commences trading in another
securities marketplace or (ii) there is a material adverse development.
A copy of the press release is filed herewith as Exhibit 99.1 and is
incorporated by reference herein.
As a consequence of delisting, except as noted below, all transfers of
shares involving holders of Trenwick's or LaSalle Re Holdings' securities must
be approved by the Bermuda Monetary Authority ("BMA") before they can be entered
into Trenwick's or LaSalle Re Holdings' share register. This procedure will only
apply to share transfers involving shareholders who hold shares in their own
name on Trenwick's or LaSalle Re Holdings' share register (a "record holder").
Shareholders who hold through nominees, brokers, or banks, which in turn have
accounts through other nominees, will not be affected by this approval procedure
unless one of the parties to the transfer becomes a record holder on Trenwick's
or LaSalle Re Holdings' share register or the number of shares held by an
existing record holder is increased or decreased by the transfer.
The BMA has complete discretion to grant or withhold permission for
transfers and is not required to disclose the reason for a declination. The BMA
looks at each transfer request for indications of fraudulent or illegal activity
such as money laundering as well as other irregularities. Trenwick's and LaSalle
Re Holdings' respective transfer agents will be instructed to notify them
immediately of any request for transfers involving record holders and hold the
transfer until notified of the BMA's approval.
The pre-approval process will cause a delay in a share transfer. Any
transfer involving more than five percent of the outstanding common shares or
perpetual preferred shares requires additional information be provided to the
BMA, including a sworn Personal Declaration and a compliance questionnaire.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release of the New York Stock Exchange issued March 20, 2003.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRENWICK AMERICA CORPORATION
By: /s/ Stephen H. Binet
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Name: Stephen H. Binet
Title: President and
Chief Executive Officer
Dated: March 20, 2003
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of the New York Stock Exchange issued March 20,
2003.
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