22nd Nov 2005 11:56
BRIT Insurance Holdings PLC22 November 2005 REGULATORY RELEASE 22 November 2005 Brit Insurance Holdings PLC 8.5% Convertible Unsecured Subordinated Loan Stock 2008 Brit Insurance Holdings PLC ("Brit" or "the Company"), the UK-basedinternational general insurer and reinsurer, announces that a total of 4,795,611units of 8.5% Convertible Unsecured Subordinated Loan Stock 2008 ("CULS") wereconverted into 5,920,622 ordinary shares of 25p each in the Company ("Shares")on the final conversion date, 31 October 2005. Following the expiry of the twenty-one day period during which the CULS werestill technically capable of conversion under the terms of the Trust Deedconstituting the CULS ("the Trust Deed"), all conversion rights have now ceasedto be exercisable. In accordance with the Trust Deed, this loan stock will nowbe known as 8.5% Unsecured Subordinated Loan Stock 2008 ("ULS"). 40,309,683units of ULS remain outstanding. The associated blocklisting of Shares is beingcancelled. Brit now has 980,817,305 Shares in issue and a further 3,285,575 Shares listedbut unissued under a blocklisting in respect of the Company's share incentiveschemes. Brit further announces the following changes to the interests of directors andpersons discharging managerial responsibility (PDMR) in the Company's Sharesfollowing the exercise of all their conversion rights: Executive director: Name Number of Shares allotted Registered holder Total holding in Shares on conversion following conversionN D Eckert 563,917 Strand Nominees Limited 6,600,946 PDMR: Name Number of Shares allotted on conversionR A Field 2,849 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BRE.L