10th Jul 2006 15:46
BRIT Insurance Holdings PLC10 July 2006 10 July 2006 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("the Company"), the UK-domiciled internationalgeneral insurer and reinsurer, confirms that this disclosure relates to a singletransaction of which notification was received under Paragraph 3.1.2 of theDisclosure Rules and, in respect of the Directors of the Company only, Section324 of the Companies Act 1985. The ESOP is an Inland Revenue approved trust arrangement, operated through HillSamuel ESOP Trustees Limited ("the Trustees"), under which employees are able tobuy ordinary shares of 75 pence each in the Company ("partnership shares"),using monthly deductions from salary, and receive free ordinary shares of 75pence each in the Company ("matching shares") on the basis of one matching sharefor every two partnership shares purchased. Both the partnership shares and thematching shares are acquired by and held in the ESOP Trust. The Company has been notified that on 7 July 2006, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased 48 partnership shares at a price of £2.5925 each andreceived 24 matching shares free of charge: Mr D J Douetil (Director) Mr R A Field (PDMR) Mr P J Goddard (PDMR) Mr M Scales (Director) Mr M A Sibthorpe (PDMR) No shares were forfeited under the ESOP in the period since the last purchase.Following the transaction on 7 July 2006, the executive directors of theCompany, who, together with other employees, are potential participants in theESOP and are to be treated as interested in the 32 ordinary shares of 75 penceeach held by Lloyds TSB Registrars Corporate Nominee Ltd AESOP 2 (unallocatedshares). Lucie Gilbert Deputy Secretary Brit Insurance Holdings PLC Tel: 020 7984 8664 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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