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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0202 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2006-01-27 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <issuer> |
| | <issuerCik> 0001130385 </issuerCik> |
| | <issuerName> FOSTER WHEELER LTD </issuerName> |
| | <issuerTradingSymbol> FWLT </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001221431 </rptOwnerCik> |
| | | <rptOwnerName> GARDNER LISA FRIES </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> C/O FOSTER WHEELER LTD </rptOwnerStreet1> |
| | | <rptOwnerStreet2> PERRYVILLE CORPORATE PARK </rptOwnerStreet2> |
| | | <rptOwnerCity> CLINTON </rptOwnerCity> |
| | | <rptOwnerState> NJ </rptOwnerState> |
| | | <rptOwnerZipCode> 08809-4000 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 1 </isOfficer> |
| | | <isTenPercentOwner> 0 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle> Vice President and Secretary </officerTitle> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Shares </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2006-01-27 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> M </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 265.87 </value> |
| <footnoteId id="F1"/> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 9.15 </value> |
| <footnoteId id="F1"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 3853.87 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <derivativeTable> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Class B Warrants </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 9.378 </value> |
| <footnoteId id="F1"/> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2006-01-27 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> M </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 3588 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> D </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <value> 2005-09-24 </value> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2007-09-24 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Shares </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 265.87 </value> |
| <footnoteId id="F1"/> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 0 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> Class B Warrants were distributed to all common shareholders of record on a one-to-one basis for common shares held as of the close of business on September 23, 2004 and was exempt from prior reporting under Rule 16a(9). Each Class B Warrant is exercisable into .0723 common shares and an additional .0018 common shares upon participation in an offer to exercise such warrants on or before January 27, 2006 at an exercise price of $9.378 per common share issuable. The reporting person exercised 3,588 warrants for 265.87 common shares due to early exercise. The effective pricing due to early exercise is $9.15 per common share issuable. The warrants became exercisable on 9/24/05 and expire on 9/24/07. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ John A. Doyle, Jr., by power of atty. </signatureName> |
| | <signatureDate> 2006-01-30 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |