9th Jun 2008 17:10
9 June 2008
BRIT INSURANCE HOLDINGS PLC
EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP")
Brit Insurance Holdings PLC ("Brit Insurance" or "the Company"), the UK-domiciled international general insurance and reinsurance group, confirms that this disclosure relates to a single transaction of which notification was received under Paragraph 3.1.2 of the Disclosure and Transparency Rules.
The ESOP is a HM Revenue and Customs approved trust arrangement, operated through Equiniti Share Plan Trustees Limited ("the Trustees"), under which employees are able to buy ordinary shares of 75 pence each in the Company ("partnership shares"), using monthly deductions from salary, and receive free ordinary shares of 75 pence each in the Company ("matching shares") on the basis of one matching share for every two partnership shares purchased. Both the partnership shares and the matching shares are acquired by and held in the ESOP Trust.
The Company has been notified that on 6 June 2008 the following executive directors and persons discharging managerial responsibility ("PDMR") of the Company each purchased partnership shares at a price of 210p each and received matching shares free of charge.
|
Name |
Partnership shares purchased at 210p each |
Matching shares received free of charge |
|
Mr D J Douetil (Director) |
60 |
30 |
|
Mr P J Goddard (PDMR) |
60 |
30 |
|
Mr M Scales (Director) |
60 |
30 |
|
Mr J R Turner (PDMR) |
59 |
29 |
The Trustees transferred 0 ordinary shares of 75 pence each from Lloyds TSB Registrars Corporate Nominee Limited AESOP 1 (allocated shares) to Lloyds TSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares). The transfer was made following the forfeiture of shares, under the ESOP, by participants who had left the group since the last purchase. Following the transaction on 06 June 2008 the executive directors of the Company, who together with other employees, are potential participants in the ESOP and are to be treated as interested in the remaining 31 ordinary shares of 75 pence each held by Lloyds TSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares).
Peter Goddard
Company Secretary
Brit Insurance Holdings PLC
Tel: 020 7984 8741
Related Shares:
BRE.L