9th Aug 2007 12:06
BRIT Insurance Holdings PLC09 August 2007 9 August 2007 BRIT INSURANCE HOLDINGS PLCEMPLOYEE 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 and Transparency Rules and, in respect of the Directors of theCompany only, Section 324 of the Companies Act 1985. The ESOP is a HM Revenue and Customs approved trust arrangement, operatedthrough Hill Samuel ESOP Trustees Limited ("the Trustees"), under whichemployees are able to buy ordinary shares of 75 pence each in the Company("partnership shares"), using monthly deductions from salary, and receive freeordinary shares of 75 pence each in the Company ("matching shares") on the basisof one matching share for every two partnership shares purchased. Both thepartnership shares and the matching shares are acquired by and held in the ESOPTrust. The Company has been notified yesterday that on 7 August 2007, the followingexecutive directors and persons discharging managerial responsibility ("PDMR")of the Company each purchased 36 partnership shares at a price of 346.50 penceeach and received 18 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) Mr J R Turner (PDMR) No ordinary shares of 75 pence each were transferred by the Trustees from LloydsTSB Registrars Corporate Nominee Limited AESOP 1 (allocated shares) to LloydsTSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares) as noshares were forfeited under the ESOP, by participants who had left the groupsince the last purchase. Following the transaction on 7 August 2007, theexecutive directors of the Company, who together with other employees, arepotential participants in the ESOP and are to be treated as interested in theremaining 35 ordinary shares of 75 pence each held by Lloyds TSB RegistrarsCorporate Nominee Limited AESOP 2 (unallocated shares). Vanessa JonesDeputy Company SecretaryBrit Insurance Holdings PLCTel: 020 7098 6963 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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