1st Jun 2007 15:16
BRIT Insurance Holdings PLC01 June 2007 For immediate release 1 June 2007 Brit Insurance Holdings PLC Notification of Interests of Directors and Persons Discharging Managerial Responsibility ("PDMR") and connected persons Brit Insurance Holdings PLC ("the Company"), the UK-domiciled internationalgeneral insurer and reinsurer, announces the following changes to the interestsof Directors and PDMRs in the Company's ordinary shares of 75p each ("Shares"). Following the purchase of Investment Shares on 24 May 2007 under the BritInsurance Holdings PLC Bonus Share Matching Plan 2007 ("BSMP") the followingDirectors and PDMRs were granted Matching Awards under the BSMP on 31 May 2007at nil cost as follows: Name Director/ BSMP BSMP Matching Awards Total options Percentage PDMR Investment (number) and awards now of Issued Shares held (number) Share purchased 24 Capital* May 2007 (number)D J Douetil Director 31,138 164,463 941,933 0.29K M Lisson Director 17,294 91,344 188,085 0.05M Scales Director 13,166 69,540 701,342 0.21P Burrows PDMR 5,020 26,519 106,905 0.03R A Field PDMR 13,947 73,664 609,135 0.18P J Goddard PDMR 13,947 73,664 660,084 0.20M A Sibthorpe PDMR 20,818 109,960 488,069 0.15J R Turner PDMR 19,526 103,131 382,687 0.11 *Based on issued share capital of 322,955,231 Ordinary Shares of 75p each(excluding Treasury Shares). Matching Awards granted under the BSMP will normally vest and become exercisablethree years from date of grant, but only to the extent that certain performanceconditions are satisfied by the Company over a three year performance period.Performance conditions will be based on the average annual Return on Equity ofthe Company over the performance period as follows: Average annual Return on Equity Portion of matching award subject to the ROE condition that will vestduring the performance period Equal to 6% over the risk free rate of return One-thirdEqual to 8% over the risk free rate of return Two-thirdsEqual to or greater than 10% over the risk free rate The whole awardof returnBetween 6% and 10% over the risk free rate of return Between one-third and the whole award vesting on a straight-line basis No consideration is payable for the grant of Matching Awards. The notification of these Awards is intended to satisfy the Company'sobligations under Section 324 of the Companies Act 1985 and Disclosure Rule3.1.4. Peter Goddard Company Secretary Brit Insurance Holdings PLC Tel: 020 7984 8741 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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