SEC Info - Citigroup Investments Inc., et al. - ‘5’ for 12/31/04 re: Foster Wheeler AG

<?xml version="1.0" encoding="windows-1252"?>

<issuerName> FOSTER WHEELER LTD </issuerName>

<issuerTradingSymbol> FWHLF.OB </issuerTradingSymbol>

</issuer>

<rptOwnerName> CITIGROUP INC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 399 PARK AVENUE </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> CITIGROUP GLOBAL MARKETS HOLDINGS INC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 388 GREENWICH STREET </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> CITIGROUP FINANCIAL PRODUCTS INC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 388 GREENWICH STREET </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> CITIGROUP GLOBAL MARKETS INC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 388 GREENWICH STREET </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> CITIGROUP INVESTMENTS INC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 399 PARK AVENUE </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> Tribeca Global Management LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 399 PARK AVENUE </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Common Shares, $0.01 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

<value> Series B Convertible Preferred Shares, $1.00 par value </value>

</securityTitle>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeTransaction>

</nonDerivativeTable>

<value> Series B Convertible Preferred Shares, $0.01 par value </value>

</securityTitle>

</conversionOrExercisePrice>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</exerciseDate>

</expirationDate>

<value> Common Shares, $0.01 par value </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</derivativeTransaction>

<value> Series B Convertible Preferred Shares, $0.01 par value </value>

</securityTitle>

</conversionOrExercisePrice>

</transactionDate>

</transactionCoding>

</transactionShares>

</transactionPricePerShare>

</transactionAcquiredDisposedCode>

</transactionAmounts>

</exerciseDate>

</expirationDate>

<value> Common Shares, $0.01 par value </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> By Subsidiary </value>

</natureOfOwnership>

</ownershipNature>

</derivativeTransaction>

</derivativeTable>

<footnote id="F1"> The Common Shares ("Common") reported in Table I represent 4,917,919 Common directly beneficially owned by Citigroup Global Markets Inc ("CGM") at the end of Foster Wheeler Ltd.'s ("the Issuer") fiscal year. The sales reported in Table I represent sales effected by Tribeca Global Management LLC ("Tribeca"). </footnote>

<footnote id="F2"> Citigroup Financial Products Inc. ("CFP") is the sole stockholder of CGM. Citigroup Global Markets Holdings Inc. ("CGM Holdings") is the sole stockholder of CFP. Citigroup Inc. ("Citigroup") is the sole stockholder of CGM Holdings. CFP, CGM Holdings and Citigroup disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interests therein. </footnote>

<footnote id="F3"> Citigroup Investments Inc. ("CII") is the sole member of Tribeca. Citigroup is the sole stockholder of CII. CII and Citigroup disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. </footnote>

<footnote id="F4"> On November 29, 2004, the Issuer's shareholders approved a series of proposals which included (i) increasing the number of Common authorized for issuance from 160,000,000 to 1,475,908,957 Common, (ii) reducing the par value of the Common and the Series B Convertible Preferred Shares ("Preferred") from $1.00 to $0.01 per share and (iii) a 1-for-20 Common consolidation. As a result of such actions, (a) the 73,140 Preferred held by the Reporting Persons became optionally convertible into 4,754,100 Common, (b) the Preferred ceased to have voting rights, except in limited circumstances as required under Bermuda law and the Company's by-laws and (c) the Class A Warrants and the Class B Warrants became exercisable into Common in accordance with their terms on or after September 24, 2005. </footnote>

<footnote id="F5"> The Reporting Persons converted 69,949 Preferred on December 1, 2004 at a conversion rate of 1 share of Preferred for 65 Common, resulting in an acquisition of 4,546,685 Common. </footnote>

<footnote id="F6"> The Preferred reported in Table I and Table II represent (i) 3,187 Preferred directly beneficially owned by Tribeca and (ii) 4 Preferred directly beneficially owned by CGM at the end of the Issuer's fiscal year. The Preferred reported in Table I represent securities held prior to November 29, 2004, the date on which the Preferred became optionally convertible into Common. See Note 4 above. </footnote>

<footnote id="F7"> There is no expiration date on the right to convert the Preferred into Common. </footnote>

</footnotes>

<signatureName> Citigroup Inc., By: /s/ Serena D. Moe, Assistant Secretary </signatureName>

</ownerSignature>

<signatureName> Citigroup Global Markets Holdings Inc., By: /s/ Serena D. Moe, Assistant Secretary </signatureName>

</ownerSignature>

<signatureName> Citigroup Financial Products, By: /s/ Serena D. Moe, Assistant Secretary </signatureName>

</ownerSignature>

<signatureName> Citigroup Global Markets Inc., By: /s/ Serena D. Moe, Assistant Secretary </signatureName>

</ownerSignature>

<signatureName> Citigroup Investments Inc., By: /s/ Millie Kim, Secretary </signatureName>

</ownerSignature>

<signatureName> Tribeca Global Management LLC, By: /s/ Andrew E. Feldman, Assistant Secretary </signatureName>

</ownerSignature>

</ownershipDocument>

Citigroup Investments Inc., et al. – ‘5’ for 12/31/04 re: Foster Wheeler AG

On: Friday, 1/7/05, at 4:58pm ET · For: 12/31/04 · As: 10% Owner · Accession #: 1181431-5-2105 · File #: 1-31305

Previous ‘5’: ‘5’ on 6/14/04 for 12/31/04 · Next & Latest: ‘5/A’ on 6/21/05 for 12/31/04

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Citigroup Investments Inc., et al. – ‘5’ for 12/31/04 re: Foster Wheeler AG

On: Friday, 1/7/05, at 4:58pm ET · For: 12/31/04 · As: 10% Owner · Accession #: 1181431-5-2105 · File #: 1-31305

Previous ‘5’: ‘5’ on 6/14/04 for 12/31/04 · Next & Latest: ‘5/A’ on 6/21/05 for 12/31/04

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34Filing Table of Contents

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents