UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
PRT Group, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001
- --------------------------------------------------------------------------------
(Title of Class of Securities)
693579104
- --------------------------------------------------------------------------------
(CUSIP Number)
- --------------------------------------------------------------------------------
Joseph B. Wollard, Esq.
Citigroup Inc.
425 Park Avenue, 3rd Floor
New York, NY 10043
(212) 793-7167
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 14, 2000
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 2 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Travelers Indemnity Company ("Travelers Indemnity")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,257,540**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,257,540**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,257,540**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents 632,540 shares of Common Stock, 3,750,000 shares of Series A
Senior Participating Convertible Preferred Stock which are convertible into
Common Stock on a one to one basis, and 1,875,000 warrants which are convertible
into Common Stock on a one to one basis.
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 3 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Travelers Property Casualty Corp. ("TAP")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,257,540**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,257,540**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,257,540**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Travelers Indemnity.
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 4 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Travelers Insurance Group Inc. ("TIGI")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,257,540**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,257,540**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,257,540**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Travelers Indemnity.
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 5 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PFS Services, Inc. ("PFS")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,257,540**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,257,540**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,257,540**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Travelers Indemnity.
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 6 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Associated Madison Companies, Inc. ("Associated Madison")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,257,540**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,257,540**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,257,540**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Travelers Indemnity.
<PAGE>
SCHEDULE 13D
- ----------------------- -------------------
CUSIP No. 693579104 Page 7 of 25 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citigroup Inc. ("Citigroup")
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 6,265,204**
EACH REPORTING ----------------------------------------------------------
PERSON 9) SOLE DISPOSITIVE POWER
WITH none
----------------------------------------------------------
10) SHARED DISPOSITIVE POWER
6,265,204**
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,265,204**
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.1%**
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Travelers Indemnity and
other subsidiaries of Citigroup Inc.
<PAGE>
SCHEDULE 13D
Item 1. Security and Issuer.
The title of the class of equity securities to which this statement
relates is Common Stock, par value $.001, of PRT Group, Inc. (the "Issuer").
The principal executive offices of the Issuer are located at 80 Lamberton
Road, Windsor, Connecticut, 06095.
Item 2. Identity and Background.
Pursuant to Rule 13d-1(k)(1) of Regulation 13D-G of the Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the
"Act"), the undersigned hereby file this Schedule 13D Statement on behalf of
The Travelers Indemnity Company ("Travelers Indemnity"), a Connecticut
corporation, Travelers Property Casualty Corp. ("TAP"), a Delaware
corporation, Travelers Insurance Group Inc. (TIGI"), a Connecticut
corporation, PFS Services, Inc. ("PFS"), a Georgia corporation, Associated
Madison Companies, Inc. ("Associated Madison"), a Delaware corporation and
Citigroup Inc. ("Citigroup"), a Delaware corporation (each, a "Reporting
Person" and collectively, the "Reporting Persons").
Travelers Indemnity
(a) Name: The Travelers Indemnity Company
(b) Address of Principal Place of Business and Office: One Tower
Square, Hartford, Connecticut 06183
(c) Principal Business: Insurance
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Connecticut
Officers and Directors: See Exhibit A attached hereto, and
incorporated herein by reference with respect to each executive
officer and director of Travelers Indemnity.
TAP
- ---
(a) Name: Travelers Property Casualty Corp.
(b) Address of Principal Place of Business and Office: One Tower
Square, Hartford, Connecticut 06183
(c) Principal Business: Holding company for insurance company
subsidiaries.
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Delaware
Page 8
of 25 pages
<PAGE>
TIGI
- ----
(a) Name: Travelers Insurance Group Inc.
(b) Address of Principal Place of Business and Office: One Tower
Square, Hartford, Connecticut 06183
(c) Principal Business: Holding company for insurance company
subsidiaries.
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Connecticut
PFS
- ---
(a) Name: PFS Services, Inc.
(b) Address of Principal Place of Business and Office: 3120
Breckinridge Boulevard, Duluth, Georgia 30199
(c) Principal Business: Holding company for insurance company
subsidiaries.
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Georgia
Associated Madison
- ------------------
(a) Name: Associated Madison Companies, Inc.
(b) Address of Principal Place of Business: 153 East 53rd Street, New
York, New York 10043
(c) Principal Business: Holding company for insurance company
subsidiaries
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Delaware
Citigroup
- ---------
(a) Name: Citigroup Inc.
(b) Address of Principal Place of Business and Office: 153 East 53rd
Street, New York, NY, 10043.
(c) Principal Business: Holding company for banking, securities and
insurance subsidiaries.
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Delaware
Officer and Directors: See Exhibit A attached hereto, and incorporated
herein by reference with respect to each executive officer and
director of Citigroup Inc.
Page 9
of 25 pages
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
On November 22, 1996, Travelers Indemnity acquired 76,196 shares of
convertible preferred stock of PRT Group, Inc. at a purchase price of
$65.62 per share for a total purchase price of $4,999,981.52. The source of
such funds was internal capital. On December 11, 1997, the shares of
convertible preferred stock held by Travelers Indemnity were converted into
761,960 shares of Common Stock. In December 1997, Travelers Indemnity sold
129,420 shares of Common Stock at a price of $12.09 per share for a total
sale price of $1,564,687.80. Travelers Indemnity presently owns the
remaining 632,540 shares of Common Stock.
On April 14, 2000 Travelers Indemnity acquired 3,750,000 shares of the
Issuer's Series A Senior Participating Convertible Preferred Stock, par
value $.001 per share, ("Series A Preferred Stock"), including 1,875,000
warrants ("Warrants"), at a price of $1.00 per share for a total purchase
price of $3,750,000. The source of such funds was internal capital. Each
share of Series A Preferred Stock may be converted into one share of the
Issuer's Common Stock at any time, and each Warrant may be converted into
one share of the Issuer's Common Stock at any time at an exercise price of
$1.00 per share.
Item 4. Purpose of Transaction.
Travelers Indemnity acquired the Common Stock, Series A Preferred Stock and
Warrants reported herein for investment purposes. Depending on market
conditions and other factors (including evaluation of the Issuer's
businesses and prospects, availability of funds, alternative uses of funds
and general economic conditions), Travelers Indemnity may from time to time
purchase additional securities of the Issuer or dispose of all or a portion
of its investment in the Issuer.
Jack L. Rivkin, an employee of an affiliate of Travelers Indemnity, serves
on the Issuer's Board of Directors. Mr. Rivkin's term of office will expire
at the Issuer's annual meeting in 2001. Mr. Rivkin disclaims beneficial
ownership of the Common Stock, Series A Preferred Stock and Warrants
reported in this Schedule 13D, and the Reporting Persons disclaim
beneficial ownership of any of the Issuer's securities that may be owned by
Mr. Rivkin.
Except as described in this Item 4, none of the Reporting Persons nor, to
the best knowledge of such persons, any of the persons named in Exhibit A
to this Schedule 13D, has formulated any plans or proposals which relate to
or would result in: (a) the acquisition by any person of additional
securities of the Issuer, or the disposition of securities of the Issuer;
(b) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its
subsidiaries; (c) a sale or transfer of a material amount of assets of the
Issuer or any of its subsidiaries; (d) any change in the present Board of
Directors or management of the Issuer, including any plans or proposals to
change the number or term of directors or to fill any existing vacancies on
the Board; (e) any material change in the present capitalization or
dividend policy of the Issuer; (f) any other material change in the
Issuer's business or corporate structure; (g) any changes in the Issuer's
charter or by-laws or other actions which may impede the acquisition of
control of the Issuer by any
Page 10
of 25 pages
<PAGE>
person; (h) causing a class of securities of the Issuer to be delisted from
a national securities exchange or to cease to be authorized to be quoted in
an inter-dealer quotation system of a registered national securities
association; (i) causing a class of equity securities of the Issuer to
become eligible for termination of registration pursuant to Section
12(g)(4) of the Act; or (j) any action similar to those enumerated above.
Item 5. Interest in Securities of the Issuer.
The percentages calculated in this Item 5 are based upon 23,980,005 shares
of Common Stock outstanding, including 18,355,005 shares outstanding as of
March 10, 2000 as disclosed in the Issuer's Form 10-K dated April 14, 2000
and 5,625,000 shares issuable to Travelers Indemnity upon conversion of the
Series A Preferred Stock and exercise of the Warrants.
Travelers Indemnity
-------------------
As of April 14, 2000 Travelers Indemnity beneficially owned 6,257,540
shares of the Issuer's Common stock, including 632,540 shares directly and
5,625,000 shares indirectly through ownership of Series A Preferred Stock
and Warrants issued by the Issuer.
To the best knowledge of Travelers Indemnity, none of the persons named in
Exhibit A hereto under Travelers Indemnity owns securities of the Issuer.
The following information is being provided as of April 14, 2000 with
respect to Travelers Indemnity's direct beneficial ownership of the
Issuer's Common Stock.
(a) Amount Beneficially Owned: 6,257,540
(b) Percent of Class: 26.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 6,257,540
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,257,540
Page 11
of 25 pages
<PAGE>
TAP
---
TAP is the parent company of Travelers Indemnity. To the best knowledge of
TAP, none of its executive officers or directors owns securities of the
Issuer. The following information is being provided as of April 14, 2000
with respect to TAP's indirect beneficial ownership of the Issuer's Common
Stock.
(a) Amount Beneficially Owned: 6,257,540
(b) Percent of Class: 26.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 6,257,540
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,257,540
TIGI
----
TIGI is the parent company of TAP. To the best knowledge of TIGI, none of
its executive officers or directors owns securities of the Issuer. The
following information is being provided as of April 14, 2000 with respect to
TIGI's indirect beneficial ownership of the Issuer's Common Stock.
(a) Amount Beneficially Owned: 6,257,540
(b) Percent of Class: 26.1%
Page 12
of 25 pages
<PAGE>
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 6,257,540
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,257,540
PFS
---
PFS is the parent company of TIGI. To the best knowledge of PFS, none of its
executive officers or directors owns securities of the Issuer. The following
information is being provided as of April 14, 2000 with respect to PFS's
indirect beneficial ownership of the Issuer's Common Stock.
(a) Amount Beneficially Owned: 6,257,540
(b) Percent of Class: 26.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 6,257,540
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,257,540
Page 13
of 25 pages
<PAGE>
Associated Madison
------------------
Associated Madison is the parent company of PFS. To the best knowledge of
Associated Madison, none of its executive officers or directors owns
securities of the Issuer. The following information is being provided as of
April 14, 2000 with respect to Associated Madison's indirect beneficial
ownership of the Issuer's Common Stock.
(a) Amount Beneficially Owned: 6,257,540
(b) Percent of Class: 26.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 6,257,540
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,257,540
Citigroup
---------
Citigroup is the parent company of Associated Madison. To the best knowledge
of Citigroup, none of the persons named in Exhibit A hereto under Citigroup
owns securities of the Issuer. The following information is being provided
as of April 14, 2000 with respect to Citigroup's indirect beneficial
ownership of the Issuer's Common Stock.
(a) Amount Beneficially Owned: 6,265,204
(b) Percent of Class: 26.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
Page 14
of 25 pages
<PAGE>
(ii) shared power to vote or direct
the vote............................. 6,265,204
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of.................... 6,265,204
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Except as set forth in Items 3, 4, and 5, to the best knowledge of the
Reporting Persons, no contracts, arrangements, understandings or
relationships (legal or otherwise) exist among the persons named in Item 2
or between such persons and any other person with respect to the securities
of the Issuer, including but not limited to transfer or voting of any such
securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, divisions of profits or loss, or the
giving or withholding of proxies.
Item 7. Material to be filed as Exhibits.
Exhibit Description
------- -----------
A Officers and Directors of The Travelers Indemnity
Company and Citigroup Inc.
B Securities Purchase Agreement dated as of April 13,
2000, by and among PRT Group, Inc., Tudor BVI Global
Portfolio Ltd., Raptor Global Portfolio Ltd., Tudor
Arbitrage Partners L.P., The Travelers Indemnity
Company and EFG Eurofinancial Investment Company
relating to the Series A Senior Participating
Convertible Preferred Stock, par value $.001, of PRT
Group, Inc. (incorporated as an exhibit hereto by
reference to Exhibit 99.1 on Form 8-K filed by PRT
Group, Inc. with the Securities and Exchange
Commission on April 14, 2000).
C Consent to Joint Filing of Schedule 13D pursuant to
Rule 13d-1(k) of the Act.
Page 15
of 25 pages
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Dated: April 21, 2000
The Travelers Indemnity Company
-------------------------------
By: /s/ Daniel W. Jackson
-------------------------
Name: Daniel W. Jackson
Title: Assistant Secretary
Travelers Property Casualty Corp.
---------------------------------
By: /s/ Daniel W. Jackson
-------------------------
Name: Daniel W. Jackson
Title: Assistant Secretary
Page 16
of 25 pages
<PAGE>
Dated: April 21, 2000
Travelers Insurance Group Inc.
------------------------------
By: /s/ Joseph B. Wollard
-------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
PFS Services, Inc.
------------------
By: /s/ Joseph B. Wollard
-------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
Associated Madison Companies, Inc.
----------------------------------
By: /s/ Joseph B. Wollard
Name: Joseph B. Wollard
Title: Assistant Secretary
Citigroup Inc.
--------------
By: /s/ Joseph B. Wollard
-------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
Page 17
of 25 pages
<PAGE>
EXHIBIT A
---------
Executive Officers and Directors of The Travelers Indemnity Company
-------------------------------------------------------------------
Set forth below are the names, titles, business addresses, principal occupations
and citizenship of the Executive Officers and Directors of The Travelers
Indemnity Company.
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
Jay Steven Fishman Chairman, President and Chief Executive Officer
Director and The Travelers Indemnity Company
Executive Officer One Tower Square
United States Hartford, CT 06183
Charles Joseph Clarke Vice Chairman
Director and The Travelers Indemnity Company
Executive Officer One Tower Square
United States Hartford, CT 06183
Ronald Edward Foley, Jr. Executive Vice President and CEO, Risk Management
Director and The Travelers Indemnity Company
Executive Officer One Tower Square
United States Hartford, CT 06183
James David Gibbs Executive Vice President and CEO, Claim
Executive Officer The Travelers Indemnity Company
United States One Tower Square
Hartford, CT 06183
William Patrick Hannon Executive Vice President and Chief Financial
Director and Officer
Executive Officer The Travelers Indemnity Company
United States One Tower Square
Hartford, CT 06183
Joseph Patrick Kiernan Executive Vice President and CEO, Bond
Director and The Travelers Indemnity Company
Executive Officer One Tower Square
United States Hartford, CT 06183
James Michael Michener Senior Vice President, General Counsel and
Director and Secretary
Executive Officer The Travelers Indemnity Company
One Tower Square
Hartford, CT 06183
Page 18
of 25 pages
<PAGE>
Executive Officers and Directors of Citigroup Inc.
--------------------------------------------------
Set forth below are the names, titles, business addresses, principal
occupations and citizenship of the Executive Officers and Directors of
Citigroup Inc.
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
C. Michael Armstrong Chairman & Chief Executive Officer
Director AT&T Corporation
United States 295 North Maple Avenue, Room 4353L
Basking Ridge, NJ 07920
Alain J. P. Belda President & Chief Executive Officer
Director Alcoa Inc.
Brazil 201 Isabella Street, Floor 6J12
Pittsburgh, PA 15212-5858
Kenneth J. Bialkin Partner
Director Skadden, Arps, Slate, Meagher & Flom
United States 919 Third Avenue
New York, NY 10022
Kenneth T. Derr Chairman & Chief Executive Officer
Director Chevron Corporation
United States 575 Market Street, 40th fl
San Francisco, CA 94105
John M. Deutch Institute Professor
Director Massachusetts Institute of Technology
United States 77 Massachusetts Avenue, Room 6-208
Cambridge, MA 02139
The Honorable Gerald R. Ford Former President of the United States
Honorary Director 40365 Sand Dune Road
United States Rancho Mirage, CA 92270
Ann Dibble Jordan Consultant
Director 2940 Benton Place, N.W.
United States Washington, DC 20008-2718
Reuben Mark Chairman and Chief Executive Officer
Director Colgate-Palmolive Company
United States 300 Park Avenue
New York, NY 10022-7499
Page 19
of 25 pages
<PAGE>
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
Michael T. Masin Vice Chairman and President - International
Director GTE Corporation
United States 1255 Corporate Drive
Mail Code SVC06C30
Irving, TX 75038
Dudley C. Mecum Managing Director
Director Capricorn Management
United States 30 East Elm Street
Greenwich, CT 06830
Richard D. Parsons President
Director Time Warner Inc.
United States 75 Rockefeller Plaza, 29th fl
New York, NY 10019
Andrall E. Pearson Chairman & Chief Executive Officer
Director TRICON Global Restaurants, Inc.
United States 660 Steamboat Road
Greenwich, CT 06830
Robert E. Rubin Member of the Office of the Chairman
Director and Citigroup Inc.
Executive Officer 153 East 53rd Street, 4th fl
United States New York, NY 10043
Franklin A. Thomas Former President
Director The Ford Foundation
United States 595 Madison Avenue, 33rd fl
New York, NY 10022
Page 20
of 25 pages
<PAGE>
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
Sanford I. Weill Chairman and Chief Executive Officer
Director and Citigroup Inc.
Executive Officer 153 East 53rd Street, 4th fl
United States New York, NY 10043
Edgar S. Woolard, Jr. Former Chairman & Chief Executive Officer
Director E.I. du Pont de Nemours & Company
United States 1007 Market Street
Wilmington, DE 19898
Arthur Zankel General Partner
Director High Rise Partners, LP
United States 535 Madison Avenue
New York, NY 10022
Michael A. Carpenter Co-Chief Executive Officer
Executive Officer Global Corporate and Investment Bank
United States Citigroup Inc.
399 Park Avenue, 2nd fl
New York, NY 10043
Paul J. Collins Vice Chairman
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
Michael D'Ambrose Senior Human Resources Officer
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
Jay S. Fishman President & CEO
Executive Officer Travelers Property Casualty Corp.
United States One Tower Square, 8GS
Hartford, CT 06183
Edward D. Horowitz Citigroup Inc.
Executive Officer 153 East 53rd St., 4th fl
United States New York, NY 10043
Page 21
of 25 pages
<PAGE>
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
Thomas Wade Jones Co-Chairman & CEO
Executive Officer SSB Asset Management Group
United States 153 East 53rd St., 4th fl
New York, NY 10043
Robert I. Lipp Chairman & CEO
Executive Officer Global Consumer Business
United States Citigroup Inc.
153 East 53rd St., 4th fl
New York, NY 10043
Deryck C. Maughan Vice Chairman
Executive Officer Citigroup Inc.
United Kingdom 153 East 53rd St., 4th fl
New York, NY 10043
Victor J. Menezes Co-Chief Executive Officer
Executive Officer Global Corporate and Investment Bank
India Citigroup Inc.
399 Park Avenue, 2nd fl
New York, NY 10043
Charles O. Prince, III Co-General Counsel/Corporate Secretary
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
William R. Rhodes Vice Chairman
Executive Officer Citigroup Inc.
United States 399 Park Avenue, 2nd fl
New York, NY 10043
Petros Sabatacakis Senior Risk Officer
Executive Officer Citigroup Inc.
United States 153 East 53rd Street
New York, NY 10043
Page 22
of 25 pages
<PAGE>
Name, Title and Citizenship Principal Occupation and Business Address
- --------------------------- -----------------------------------------
Todd S. Thomson Chief Financial Officer
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
Marc P. Weill Head of Citigroup Investments
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
Robert B. Willumstad Chairman
Executive Officer CitiFinancial Credit Company
United States 153 East 53rd St., 5th fl
New York, NY 10043
Page 23
of 25 pages
<PAGE>
EXHIBIT C
---------
Pursuant to Rule 13d-1(k)(1)(iii) of Regulation D of the Rules and
Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agree that the attached
Schedule 13D is, and any future amendments thereto may be, filed on behalf
of each of us.
Dated: April 21, 2000
The Travelers Indemnity Company
-------------------------------
By: /s/ Daniel W. Jackson
------------------------
Name: Daniel W. Jackson
Title: Assistant Secretary
Travelers Property Casualty Corp.
By: /s/ Daniel W. Jackson
------------------------
Name: Daniel W. Jackson
Title: Assistant Secretary
Page 24
of 25 pages
<PAGE>
Dated: April 21, 2000
Travelers Insurance Group Inc.
------------------------------
By: /s/ Joseph B. Wollard
------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
PFS Services, Inc.
------------------
By: /s/ Joseph B. Wollard
------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
Associated Madison Companies, Inc.
----------------------------------
By: /s/ Joseph B. Wollard
------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
Citigroup Inc.
--------------
By: /s/ Joseph B. Wollard
------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
Page 25
of 25 pages
