-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BYTzV3IGRzFOTrKiWXSq7Zat9q93DYhGReAwRCdBjAvsW6zC9deoib81MMfEJhhv pW8oQXIoce4D4Cyyr4gdMw== 0001005477-07-003065.txt : 20070517 0001005477-07-003065.hdr.sgml : 20070517 20070517183420 ACCESSION NUMBER: 0001005477-07-003065 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070507 FILED AS OF DATE: 20070517 DATE AS OF CHANGE: 20070517 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: SCOTTISH RE GROUP LTD CENTRAL INDEX KEY: 0001064122 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: GRAND PAVILION COMMERCIAL CENTRE STREET 2: 802 WEST BAY RD GEORGE TOWN GRAND CAYMAN CITY: GRAND CAYMAN CAYMAN STATE: E9 ZIP: 00000 BUSINESS PHONE: 3459492800 MAIL ADDRESS: STREET 1: P O BOX HM 2939 CITY: HAMILTON STATE: D0 ZIP: HM MX FORMER COMPANY: FORMER CONFORMED NAME: SCOTTISH LIFE HOLDINGS LTD DATE OF NAME CHANGE: 19980615 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: FEINBERG STEPHEN CENTRAL INDEX KEY: 0000947822 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-16855 FILM NUMBER: 07862508 BUSINESS ADDRESS: BUSINESS PHONE: 2128912120 MAIL ADDRESS: STREET 1: 299 PARK AVENUE STREET 2: 22ND FL CITY: NEW YORK STATE: NY ZIP: 10171 3 1 edgar123.xml FORM 3 X0202 3 2007-05-07 0 0001064122 SCOTTISH RE GROUP LTD SCT 0000947822 FEINBERG STEPHEN C/O CERBERUS CAPITAL MANAGEMENT, L.P. 299 PARK AVENUE - 22ND FLOOR NEW YORK NY 10171 0 0 1 0 Convertible Cumulative Participating Preferred Shares Ordinary Shares, par value $0.01 per share 75000000 I By limited duration company Scottish Re Group Limited's (the "Company") newly issued shares of convertible cumulative participating preferred stock (the "Convertible Shares") have no expiration date, but are mandatorily convertible as described herein. Pursuant to a Securities Purchase Agreement dated as of November 26, 2006, as amended (the "Securities Purchase Agreement"), entered into by the Company, MassMutual Capital Partners LLC ("MassMutual") and SRGL Acquisition, LLC, an affiliate of Cerberus Capital Management, L.P. ("Cerberus"), the Convertible Shares may be converted into 75,000,000 shares of the Company's ordinary stock, par value $0.01 per share (the "Ordinary Shares"), at any time, and will automatically convert into Ordinary Shares on the ninth anniversary of the issue date if not previously converted, subject to certain adjustments. This Form 3 is being filed in connection with the closing of the Securities Purchase Agreement. Prior to the closing of the Securities Purchase Agreement, SRGL Acquisition, LLC assigned its rights and obligations pursuant to the Securities Purchase Agreement to SRGL Acquisition, LDC, an affiliate of Cerberus then controlled by Cerberus International, Ltd. ("International"). On May 7, 2007, pursuant to the Securities Purchase Agreement, SRGL Acquisition, LDC purchased 500,000 Convertible Shares. International granted an irrevocable proxy of unlimited duration to SRGL Dir Co., Ltd., an affiliate of Cerberus, pursuant to which SRGL Dir Co., Ltd. shall exercise all of the voting rights of International in SRGL Acquisition, LDC (SRGL Acquisition, LDC, and together with Cerberus, SRGL Acquisition, LLC, International and SRGL Dir Co., Ltd., the "Cerberus Entities"). Stephen Feinberg, directly or through one or more intermediate entities, possesses the sole power to vote and the sole power to direct the disposition of all securities of the Company held by the Cerberus Entities. Mr. Feinberg's interest in such securities is limited to the extent of his pecuniary interest in the Cerberus Entities, if any. /s/ Stephen Feinberg 2007-05-17 -----END PRIVACY-ENHANCED MESSAGE-----